Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The stream is slated to start at 2:30 pm ETThe Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on May 1 after the Fed's previous policy-making meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If you're concerned about what Wednesday's Fed decision means for your bank account, mortgage loan or credit card — as well as student debt, home equity loan and car payment —...Personal Financeread more
The Federal Open Market Committee's quarterly economic forecast includes the so-called dot plot of where members see interest rates heading.The Fedread more
Employees spoke out on issues like forced arbitration, workplace equity and Project Dragonfly at Alphabet's annual shareholder meeting.Technologyread more
The Federal Reserve lowered its inflation forecast for 2019 while keeping the growth expectations unchanged.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Under Armour's shares skidded about 23 percent Tuesday after the sportswear maker reported lower-than-expected quarterly sales and announced that Chief Financial Officer Chip Molloy will step down.
The stock price was $19.17, down more than 23 percent from Monday's close.
Under Armour said Molloy is leaving for personal reasons. It did not elaborate. Molloy, the former CFO of PetSmart, joined Under Armour on last January.
The company's sales were hurt by intense competition and slowing growth in North America.
The company said net income fell to $104.9 million in the fourth quarter ended Dec. 31 from $105.6 million a year earlier.
On a per-share basis, earnings fell to 23 cents per for Class A, Class B and Class C shares from 24 cents a year earlier.
The company's net revenue rose about 12 percent to $1.31 billion, its slowest sales growth in eight years. Analysts on average expected $1.41 billion, according to Thomson Reuters.
Susan Anderson, a consumer research analyst at FBR Capital Markets, said on CNBC's "Squawk Box" that she was not overly surprised by the performance, given the industry's oversupply and recent bankruptcies like that of Sports Authority last June.
"I think we are, based on their guidance, going to see slower growth over the next year as we ... work through some North America issues," she said, noting several promising areas in the report where Under Armour could see improvement.
"We are still seeing international growth over 50 percent and then also footwear, which I think was expected to be light, was still very strong, over 30 percent," she continued. "So I think those are really the two growth platforms that we're going to start to see take hold over the next several years."
She said Under Armour stock was still worth holding for the long term.
"I like it over Nike," she said. "It's one that is still going to have double-digit top-line growth, which is very hard to find these days ... in retail or apparel."
And, despite Nike's $30.5 billion in revenue for 2016 compared to Under Armour's $4.8 billion, "I think there's still a long runway of growth for them," Anderson said. "I think it's going to come out a winner."
— Reuters contributed to this report.