Under Armour struggles with weak women’s lines and ERP woes
Under Armour’s third quarter shows declines in women’s training apparel outdoor wear and basketball shoes while direct-to-consumer sales rise. International revenue stays strong and golf products show signs of life though overall revenue falls short and profit misses. The company blames a bungled ERP rollout for weaker performance and cuts full year guidance, stock drops 18.4 percent to 12.04.
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States accuse Mylan and 17 others of fixing generic drug prices
Eighteen pharmaceutical firms including Mylan and Teva are accused by 45 state attorneys general of conspiring to segment and fix prices for 15 generic medicines. The expansion names Mylan President Rajiv Malik and Heritage Pharmaceuticals CEO Satish Mehta, with stock impact and denials from several firms.
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Leveraged ETFs face long term downward bias and risk
Leveraged ETFs aim to magnify daily index moves not long term returns. A simple sequence of up 10 percent, down 30 percent, then up 10 percent shows how compounding can devastate a 1000 dollar investment to 169 dollars for a triple levered fund, illustrating why these instruments are dangerous for long term investors.
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