Dow Edges Higher; Under Armour Shares Tumble After Q4 Earnings

U.S. stocks traded mostly lower midway through trading, with the Nasdaq Composite falling more than 400 points on Tuesday.

The Dow traded up 0.05% to 49,731.53 while the NASDAQ dipped 1.56% to 25,864.14. The S&P 500 also fell, dropping, 0.66% to 7,364.20.

Leading and Lagging Sectors

Health care shares jumped by 2.4% on Tuesday.

In trading on Tuesday, information technology stocks fell by 2.2%.

Top Headline

Under Armour, Inc. (NYSE:UA) (NYSE:UAA) shares fell almost 20% on Tuesday after the company reported fourth-quarter results that missed Wall Street earnings expectations and warned that Middle East-related supply chain disruptions will continue weighing on margins in fiscal 2027.

Under Armour reported an adjusted loss of 3 cents per share for the quarter, missing analyst estimates for a loss of 2 cents per share. Revenue declined 1% year over year to $1.171 billion, slightly above the Street estimate of $1.167 billion.

Equities Trading UP
           

• Buzzfeed Inc (NASDAQ:BZFD) shares shot up 119% to $1.60 after the company reported first-quarter financial results. The company announced it will accept a majority investment from Allen Family Digital.
• Shares of Dreamland Ltd (NASDAQ:TDIC) got a boost, surging 101% to $2.09 after the Hong Kong-based event management company unveiled plans to explore an AI-powered intelligent image library platform through a new partnership, fueling investor optimism around its expansion into artificial intelligence-driven digital services.
• Vestis Corp (NYSE:VSTS) shares were also up, gaining 29% to $12.02 after the company reported better-than-expected second-quarter financial results.

Equities Trading DOWN

• Power Solutions International Inc (NASDAQ:PSIX) shares dropped 40% to $37.55 after the company reported worse-than-expected first-quarter financial results.
• Shares of Zoominfo Technologies Inc (NASDAQ:GTM) were down 34% to $3.96 after the company reported first-quarter financial results and issued second-quarter sales guidance below estimates. Also, the company cut its FY26 sales guidance below estimates.
• Peraso Inc (NASDAQ:PRSO) was down, falling 29% to $0.98 after the company reported worse-than-expected quarterly financial results.

Commodities

In commodity news, oil traded up 2.9% to $101.50 while gold traded down 1% at $4,685.10.

Silver traded down 0.4% to $85.625 on Tuesday, while copper rose 1.5% to $6.5555.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 1.01%, while Spain's IBEX 35 Index fell 1.56%. London's FTSE 100 fell 0.04%, Germany's DAX dipped 1.62%, while France's CAC 40 declined 0.95%.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan's Nikkei 225 gaining 0.52%, Hong Kong's Hang Seng Index falling 0.22%, China's Shanghai Composite declining 0.25% and India's BSE Sensex falling 1.92%

Economics

• The headline inflation rate climbed from 3.3% year-over-year in March to 3.8% in April, topping economist expectations of 3.7%, the Bureau of Labor Statistics reported Tuesday.
• Total household debt in the U.S. rose by $18 billion from the previous quarter to a new record high level of $18.8 trillion in the first quarter.
• U.S. private employers added an average of 33,000 jobs per week during the four weeks ending April 25, compared to the 30,250 weekly rise in the previous period.

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