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January 16, 2014
10:01 EDTUAUnder Armour forms partnership with Naval Academy Athletic Association
The Naval Academy Athletic Association and Under Armour announced a new multiyear partnership that designates Under Armour as the official outfitter of their varsity intercollegiate athletic programs. Under Armour will outfit all of the Naval Academy's 33 men's and women's varsity athletic teams beginning in the 2014-15 season. The partnership also includes marketing and promotional opportunities.
News For UA From The Last 14 Days
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November 30, 2015
17:04 EDTUAOn The Fly: Top stock stories for Monday
After seeing an early-morning jump, stocks on Wall Street spent Monday's trading session generally lower amid a glut of reports on Black Friday and Cyber Monday sales trends as well as weaker than expected financial data on manufacturing and home sales. ECONOMIC EVENTS: In the U.S., the Chicago purchasing managers' index dropped 7.5 points to 48.7 in November, coming in much worse than the expected 54.0 reading. Pending home sales for October, meanwhile, rose 0.2% from the prior month, lower than the forecasted 1% monthly increase. The Dallas Fed's manufacturing index rose 7.8 points to -4.9 in November, which was better than the anticipated -10.0 reading. The National Retail Federation said that about 151M people say they shopped in-store or on-line over the past four days, compared with 136M who said in a mid-November survey that they planned to shop over the holiday period. Also, as expected, the International Monetary Fund Monday added the Chinese yuan to the the fund's basket of reserve currencies, joining the U.S. dollar, the euro, the Japanese yen and the British pound. COMPANY NEWS: Shares of Amazon (AMZN) spiked momentarily on Monday morning amid media reports that the company was seeing a strong start to the holiday sales season, with ChannelAdvisor reporting same-store sales growth of above 20% for the e-commerce giant over Black Friday and the rest of the long Thanksgiving weekend. By session close, however, the shares gave up their early gains, falling 1.26% to $664.80. Meanwhile, Target (TGT) slipped 1.28% to $72.50 as shoppers visiting the company's website in search of Cyber Monday deals encountered intermittent delays, which the company pinned on record sales volumes. Fellow retailer Wal-Mart (WMT) dipped 1.70% to $58.87, while specialty names Express (EXPR), Urban Outfitters (URBN), and Guess? (GES) fell a respective 5.48%, 5.29%, and 6.68%. MAJOR MOVERS: Among the notable gainers were a number of renewable fuel companies, with Pacific Ethanol (PEIX) and Renewable Energy Group (REGI) advancing a respective 21.12% and 6.50% after the EPA finalized its biofuel targets. Petroleum refiners HollyFrontier (HFC) and Tesoro (TSO) slipped 3.30% and 1.74%, respectively, following the news, while oil majors Exxon Mobil (XOM) and Chevron (CVX) closed the day up a respective 0.69% and 1.24%. Also higher was ITC Holdings (ITC), which jumped $3.11, or 9.21%, to $36.86 following a Bloomberg report that the company is exploring a potential sale. Separately, Microsoft (MSFT) rose 42c, or 0.78%, to $54.35 after research firm Raymond James upgraded the company two notches to Strong Buy from Hold, predicting that the tech giant will become one of the few large scale cloud vendors that can succeed across the industry's various segments. Among the noteworthy losers was Lockheed Martin (LMT), which declined $6.65, or 2.94%, to $219.26 after Barclays downgraded the shares to Underweight from Equal Weight, saying it "doesn't make sense" to expect further outperformance from the defense major. Also lower was Under Armour (UA), which fell $3.43, or 3.82%, to $86.25 after Piper Jaffray analyst Erinn Murphy cut her price target on the stock following visits to malls and retailers Thanksgiving night, reportedly finding evidence of deeper discounts than last year. Additionally, Lululemon (LULU) lost 8.91% to $47.82 after being downgraded to Underperform from Market Perform at FBR Capital after the research firm discovered "significantly higher" clearance levels on company products in-store and online. INDEXES: The Dow fell 78.57, or 0.44%, to 17,719.92, the Nasdaq lost 18.86, or 0.37%, to 5,108.67, and the S&P 500 slipped 9.70, or 0.46%, to 2,080.41.
12:37 EDTUAOn The Fly: Top stock stories at midday
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10:39 EDTUAUnder Armour volatility elevated on wide price movement
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08:36 EDTUAUnder Armour Steven Madden outlook positive, says Canaccord
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08:14 EDTUAThanksgiving deals seen as negative for Under Armour, Deckers
After visiting stores and doing other checks throughout the Thanksgiving holiday weekend, an analyst at research firm Piper Jaffray concluded that Under Armour (UA), Deckers Outdoor (DECK) and Steven Madden (SHOO) offered higher promotions than last year, prompting her to lower her estimates and price targets on the three stocks. MORE PROMOTIONAL: After visiting malls and big box retailers on Thanksgiving night, Piper Jaffray analyst Erinn Murphy said in a note to investors on Friday that brands that appeared more promotional than last year included Under Armour, Deckers Outdoor, Steven Madden, GoPro (GPRO), Michael Kors (KORS) and Ralph Lauren (RL). In a post-weekend follow-up note, Murphy lowered her estimates for Under Armour, saying the company remains one of the more promotional brands across the athletic landscape and that the brand remained promotional during the Thanksgiving weekend. She lowered her estimates on Under Armour for the upcoming quarter and beyond, cut her price target on the stock to $88 from $97 and keeps a Neutral rating on the name. Murphy also lowered her estimates for Deckers Outdoor after observing more UGG promotions over the Thanksgiving weekend relative to last year. The analyst cut her price target for Deckers to $55 from $63 and keeps a Neutral rating on the name. Remarking on Steven Madden, Murphy noted that the brand was more promotional not only on Black Friday but in the two days following as well. She lowered her forecast for the shoemaker to the lower end of guidance for FY15 and trimmed her price target on the stock to $36 from $41, but keeps an Overweight rating on the name. FITBIT: Murphy, who said in her Thanksgiving notes that she views the "must-have" items as being in the electronics and cosmetics spaces this holiday season, said her checks suggested that levels of Fitbit (FIT) products sold down well during the weekend. Importantly, the company's Flex, which she believes is the highest margin offering in its lineup, was full-price throughout the weekend. Murphy has an Overweight rating with a $60 price target on Fitbit shares. PRICE ACTION: In Friday's holiday shortened session, Under Armour shares sunk about 2.6% to $89.68, Deckers dropped 3.2% to $50.11 and Steven Madden added 10c to $33.03.
06:47 EDTUAUnder Armour estimates and price target lowered at Piper Jaffray
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05:39 EDTUAFitbit upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Matthew McClintock upgraded Fitbit (FIT) to Overweight saying the 26% pullback in shares over the past 30 days is unjustified. New product launches, new corporate wellness deals and margin improvement should provide share catalysts over the next year, McClintock tells investors in a research note. Current valuation levels "are just too compelling to ignore" now that potential headwinds from the Nike (NKE) and Under Armour (UA) analyst days as well as initial performance from Apple (AAPL) Watch are in the rearview mirror, the analyst contends. He keeps a $49 price target for Fitbit shares. The provider of health and fitness products closed Friday down 16c to $27.80.
November 27, 2015
06:39 EDTUAPiper says Deckers, GoPro look more promotional than last year
After visiting malls and big box retailers during the initial 6 PM store openings last night, Piper Jaffray analyst Erinn Murphy says brands that appear more promotional than last year include Deckers Outdoor (DECK), GoPro (GPRO), Michael Kors (KORS), Ralph Lauren (RL), Steven Madden (SHOO) and Under Armour (UA). Customer traffic "was robust" at the open on Thanksgiving, Murphy tells investors this morning in a research note. She views the "must-have" items as being in the electronics and cosmetics spaces.
November 23, 2015
13:25 EDTUALululemon adds to gains as takeover speculation persists
Shares of Lululemon Athletica (LULU) rose in afternoon trading as speculation over a possible takeover by a larger rival persists, fueled by continued media mentions. WHAT'S NEW: On Friday, dealReporter credited a Thursday gain for Lululemon to "unsubstantiated rumors" that Under Armour (UA is seeking to make a $62 per share takeover bid for the yoga apparel maker. DealReporter said that Under Armour may not be the best fit to acquire Lululemon based on differences in branding, marketing and culture, but said that Nike (NKE) would be a better fit to take over the apparel company, since it is in the "right position at the right time" to make such a deal work, contacts told The Fly. WHAT'S NOTABLE: Three days after dealReporter commented on the rumors, the New York Post said today that there was "plenty of chatter" that Lulu and Under Armour were in discussions over a possible deal, noting that the latter company has been "actively seeking" growth in the women's sportswear sector. The Post noted that Bloomberg Gadfly suggested that Nike should be spending $7.5B to acquire Lululemon instead of using that money for a $12B buyback. PRICE ACTION: In afternoon trading, Lululemon rallied 5% to $51.76. Over the past five days, Lululemon is up nearly 15%. Reference Link
November 20, 2015
16:02 EDTUAOptions Update; November 20, 2015
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09:36 EDTUANike, not Under Armour, should buy lululemon, dealReporter says
Lululemon (LULU) gained 3.6% yesterday, which dealReporter credits to "unsubstantiated rumors" that Under Armour (UA) was planning to make a $62 per share takeover bid. Given the differences in their branding, marketing, and culture, dealReporter said it is not sure such a deal would be a good fit, but added that it believes Nike (NKE) is in the "right position at the right time" to make such an acquisition of lululemon work, contacts tell The Fly.
November 18, 2015
07:28 EDTUAUnder Armour sell-off on Dick's Sporting worries overdone, says SunTrust
November 17, 2015
10:01 EDTUAUnder Armour, Nike slide after Dick's outlook misses expectations
Shares of Under Armour (UA) and Nike (NKE) slipped after Dick's Sporting Goods (DKS) provided guidance for the fourth quarter and fiscal 2015 that both missed consensus estimates. WHAT'S NEW: Dick's Sporting Goods reported Q3 adjusted earnings per share of 45c on revenue of $1.64B, mostly in-line with analyst estimates of 47c on revenues of $1.64B. The company guided for Q4 EPS of $1.10-$1.25, short of the consensus estimate of $1.43. Dick's also said it anticipates FY15 adjusted EPS of $2.85-$3.00, lower than current analyst expectations of $3.19. STREET RESEARCH: Following the report, Baird analyst Justin Kleber said that Dick's Sporting Goods is the "strongest player" in its segment, which should enable the company to grow its sector-leading 10% market share at the expense of smaller competitors. The analyst added that profitability for the company should improve as volumes increase and as the company leverages its store base to fulfill further orders. Kleber said that Dick's Sporting Goods' e-commerce business will be more profitable than its brick-and-mortar business by 2017. The analyst maintained a Neutral rating and $48 price target on Dick's Sporting Goods' stock. PRICE ACTION: In morning trading, Dick's Sporting Goods dropped 17.5% to $33.67, while supplier Under Armour fell 5.6% to $84.95 and Nike was down 2% to $121.08. Dick's peers fell as well, with Finish Line (FINL) dropping 1%, Foot Locker (FL) slid 1.3% and Cabela's (CAB) dipping marginally in morning trading.

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