The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
Wall Street critics should consider Under Armour's track record of success before counting it out, CEO Kevin Plank told CNBC. (Full interview below)
"You look in my eyes and tell me: Do you believe this is the team that's done this for 21 years, 11 years public and knows how to win?," Plank said on CNBC's "Halftime Report. "
"You know, I think a lot of people bet against Tom Brady the other night, too," he said.
Shares of Under Amour have taken a beating after the sportswear company reported lower-than-expected quarterly sales — its second disappointing quarter in a row. It also announced that its chief financial officer, Chip Molloy, will step down. The news initially wiped a quarter off the company's market value.
In midday trading Tuesday, Class A shares were little changed, while Class C shares were about 1 percent lower. Both sets of shares have declined more than 30 percent in the past three months.
(12-month performance of Under Armour Class A shares; Source: FactSet)
The company's sales were hurt by intense competition and slowing growth in North America. Under Armour's net revenue rose about 12 percent to $1.31 billion, its slowest sales growth in eight years.
Under Amour also said its CFO is leaving for personal reasons, but did not elaborate. Molloy had joined the company last January.
On Tuesday, Plank said even though the company lost one of its key players, he is confident in the progress of his executive team.
"We've got an executive team that is robust and full and the same people that got us here. One of the lessons that we learned and we know, you ask is this the end? No this is not the end," he said.
In order for the company to progress it has to change its narrative, Plank said.
"We have a growth company. You'll never hear us not say that. Current outlook has double digit growth which is close to industry in the sector leading among the leaders there. Our business is so young, our business is really just getting started," he said.
"This company throws punches. That's what we do and it's how we continue to expect to be able to run again," he said. "But there are tweaks. This is not to say the world is rosy."
Plank also mentioned his meeting with President Donald Trump to discuss jobs in U.S. Plank described Trump as "highly passionate" and a pro-business man who is a "real asset" for U.S. companies.
Last month, Plank said in a speech that "We should be bringing jobs back, not just to America, but tightening supply chains all over the world. We have the ability to do it better. It's time for all of us to make an investment."