Under Armour Showing Weakness On Upcoming Nike Earnings
Shares of Under Armour Inc (NYSE: UA) are showing weakness Tuesday, trading down 3.25 percent from the open at $81.05 to a daily low of $77.92. This downward pressure may be attributed to Nike Inc (NYSE: NKE) moving higher, up 0.71 percent. The latter will report earnings after the market closes Tuesday afternoon.
Jim Cramer told viewers on Monday's edition of CNBC's Mad Money to hold onto Under Armour shares, despite the potential that shares could trade lower.
Continue to look for movement in each of these sport retailers as market inches toward Tuesday's close. Nike typically reports at 4:15 p.m ET, so expect volatility in peers of athletic retailers around then.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.