Diamonds and Dogs
Sprint (S) soars over 70% after a federal judge ruled they will not block a pending merger with T Mobile (TMUS). The merger would combine the U.S.'s third- and fourth-largest wireless carriers. This merger was initial announced in the spring of 2018. T Mobile is trading up 10%.
Under Armour (UAA) starting off the New Year on the wrong foot. Under Armour is down 16% to new lows after reporting fourth quarter earnings. Under Armour reported inline earnings as sales rose 3%, but then dramatically lowered guidance for 2020 due in part to the coronavirus. Under Armour now sees just 10 cents to 13 cents in earnings for the full year and will take a $50-60 million sales hit related to the coronavirus. Imagine if every company sees a similar hit.
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