Under Armour's Profit is Up 73%; Stocks Trading Slightly Higher
PUBLISHED ON: Apr 24, 2014
Though slightly higher, the stock trading was uneven this Thursday. Verizon (VZ) was down to $46.32 largely due to missing profit expectations. There is a rising concern that the company's reluctance to offer discounts will turn away new customers in an already saturated market. Crude oil prices rise 0.5% to recover after a two week low. After posting strong sales, Under Armour's (UA) first-quarter profit is up 73%. DoJ and SEC are conducting an investigation into GM (GM) in connection with recent recalls.This investigation could potentially lead to damages and multiple fines. Amidst the news of Zynga (ZNGA) founder leaving, company's shares continue to fall and were down almost 2% on Thursday.
Word on the Street
- Vic Gundotra, the Google+ (GOOG) creator, is leaving the company.
- Former KPMG partner Scott London is sentenced to 14 months in prison.
- Facebook (FB) acquires Moves, a fitness tracking app.
- Microsoft (MSFT) propelled by sells, earns $7B in Q3.
- Taco Bell to try out a fast-casual Mexican restaurant.
- Apple (AAPL) reports stellar earnings, 7 for 1 stock split and share buyback increase.
Posted in ...Daily Market Commentary