Under Armour falls after Footwear executive resigns Shares of athletic apparel and footwear maker Under Armour (UA) are lower after the company announced the resignation of an executive. The company stated in a press release before the open that Gene McCarthy is resigning as Senior Vice President, Footwear, effective February 22. The company did not state a reason for McCarthy's resignation, but did say COO Kip Fulks will assume responsibility of Footwear and continue to oversee the company's Operations division. In early trading, Under Armour shares slipped $2.34, or 4.91%, to $45.35.
lululemon upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded lululemon (LULU) to Overweight saying its recent field work has indicated positive traffic and demand trends while management is laying the foundation for sustainable growth. The firm raised its price target for shares to $75 from $50. The retailer of athletic apparel closed yesterday up 90c to $63.76. JPMorgan notes that its $75 price target reflects a 20% discount to peers Nike (NKE) and Under Armour (UAUA).