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Why Under Armour Stock Was Sliding Today

Why Under Armour Stock Was Sliding Today

Shares of Under Armour (NYSE: UA) (NYSE: UAA) were pulling back today in sympathy with a disappointing earnings report from Nike (NYSE: NKE). As of 11:56 a.m. ET, Under Armour shares were down 5.5%, while Nike stock was off 11.5%. Nike's fiscal first-quarter performance was actually in line with estimates, though its guidance for the upcoming holiday quarter seemed to spook investors.