S&P 500 Moves Higher; Under Armour Shares Tumble After Q1 Results

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 150 points on Friday.

The Dow traded up 0.54% to 44,205.48 while the NASDAQ gained 0.91% to 21,435.04. The S&P 500 also rose, gaining, 0.78% to 6,389.36.

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Leading and Lagging Sectors

Communication services shares jumped by 1% on Friday.

In trading on Friday, real estate stocks fell by 0.1%.

Top Headline

Under Armour, Inc. UAA stock dipped around 22% on Friday after the company reported first-quarter fiscal 2026 results that met or exceeded internal expectations but missed Wall Street estimates.

Revenue declined 4% year over year to $1.13 billion, falling short of the $1.154 billion consensus estimate. The company reported a GAAP net loss of $3 million, or 1 cent per diluted share, and adjusted net income of $9 million, or 2 cents per share, up from 1 cent a year ago.

For the second quarter of fiscal 2026, Under Armour expects revenue between $1.055 billion and $1.066 billion, well below the $1.374 billion analyst estimate. Adjusted diluted earnings per share are projected to range from 1 to 2 cents, compared to the 28 cents consensus.

Equities Trading UP
           

• LegalZoom.com Inc LZ shares shot up 41% to $11.82 after the company reported better-than-expected second-quarter financial results and issued third-quarter sales guidance above estimates.
• Shares of MEDIROM Healthcare Technologies Inc. MRM got a boost, surging 48% to $1.77 following the company’s announcement of a strategic collaboration with Hakuhodo Inc. to participate in “World,” a “proof of human” protocol co-founded by OpenAI‘s Sam Altman.
• Astrana Health Inc ASTH shares were also up, gaining 35% to $29.00 after the company reported better-than-expected second-quarter sales results and issued FY25 sales guidance above estimates.

Equities Trading DOWN

• BioVie Inc. BIVI shares dropped 43% to $1.66 after the company reported the pricing of $12 million public offering.
• Shares of Fundamental Global Inc. FGF were down 48% to $18.96 after the company filed for $5 billion shelf registration.
• The Trade Desk, Inc. TTD was down, falling 38% to $54.61 after the company reported second-quarter financial results. B of A downgraded the stock following the report.

Commodities

In commodity news, oil traded up 0.3% to $64.07 while gold traded up 1% at $3,488.60.

Silver traded up 0.7% to $38.575 on Friday, while copper rose 1.4% to $4.4580.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.21%, while Spain’s IBEX 35 Index gained 1.02%. London’s FTSE 100 fell 0.08%, Germany’s DAX 40 declined 0.01% and France’s CAC 40 rose 0.246 during the session.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 1.85%, Hong Kong’s Hang Seng declining 0.89%, China’s Shanghai Composite declining 0.12% and India’s BSE Sensex falling 0.95%.

Economics

Data on Baker Hughes crude oil rigs will be released today.

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