Pre-market deals in New York saw footwear and apparel group Under Armour Inc (NYSE:UAA) shares crashing up to 8% lower after it slashed the outlook for 2017 in its quarterly results.
The group also announced a jobs cull as part of a new restructuring plan.
Shares at the time of writing had recouped some losses however and were down 2.4% to $19.56. Shares tanked over 8% in the regular session.
The group now expects adjusted earnings for the full year to be between 7 cents and 40 cents a share, not including the impact from the restructuring.
Under Armour posts quarterly loss, announces layoffs as part of restructuring plan https://t.co/kPPDUFEG3v pic.twitter.com/8wpifdgQsc
— Baltimore Business (@BaltBizOnline) August 1, 2017
Elsewhere, Cognex Corporation (NASDAQ:CGNX) added more than 8% as it unveiled better-than-expected earnings for its second quarter.
Groupon Inc (NASDAQ:GRPN) added over 6% to $3.99 as it unveiled a strategic partnership to bring food delivery to Groupon customers throughout the USA.
Meanwhile, Sprint Corp (NYSE:S) shares raced up over 3% to $8.22 as the wireless firm reported earnings for the first quarter that beat " the Street's" expectations.
Net income in the three months was $206mln, or 5 cents per share, after a loss of $302mln, or 8 cents in the same quarter a year ago.
Revenue for the quarter was $8.16 billion, up from $8.01 billion last year and in line with consensus. Shares later added over 10% in New York to $8.78.
Archer Daniels Midland Company (NYSE:ADM) shed 0.43% to $42 before the bell, as profit beat estimates, but revenues fell short. Later, shares gained 2.26% to $43.14.