Finances

Under Armour, Inc. (UAA) announced its fourth quarter and full-year earnings on Tuesday, May 12. The athletic-wear company’s stock dropped nearly 13% despite reporting quarterly revenue in line with analysts’ estimates.

The company reported revenue of $1.17 billion for the fourth quarter. Revenue was down 1% from $1.18 billion during the same quarter last year but in line with analysts’ expectations of $1.17 billion. For the full year, revenue came in at $4.97 billion, down from $5.16 billion reported last year.

"Our fiscal 2026 performance reflects the ongoing intentional steps we are taking to reset the business and restore the discipline required to operate as a best-in-class brand," said Under Armour CEO, Kevin Plank. "As our topline stabilizes in fiscal 2027, we are applying the same rigor that is strengthening our product engine to our storytelling capabilities. Building world-class, modern marketing excellence is now our highest priority that we believe will accelerate consumer demand and help reshape Under Armour's profit profile." 

Under Armour reported a net loss of $43.39 million or $0.10 per adjusted share for the quarter. Last year at this time, the company posted a net loss of $67.46 million or $0.16 per adjusted share. For the full year, the company reported a net loss of $495.64 million, an increased net loss compared to $201.27 million last year.

The Baltimore-based sports apparel manufacturer’s North America segment posted a 7% decrease in revenue to $641 million for the quarter. Under Armour’s international segments experienced a 10% increase in revenue to $539 million compared to the prior year. Wholesale revenue decreased 3% to $748 million and direct-to-consumer revenue rose 5% to $406 million due, in part, to store revenue growth. Looking ahead, Under Armor expects adjusted earnings per share for fiscal 2027 to be between $0.08 and $0.12.

Under Armour, Inc. (UAA) shares ended the week at $5.12, down 20% for the week.

Cisco Posts Quarterly Results

Cisco Systems, Inc. (CSCO) posted its third quarter results on Wednesday, May 13. The international technology company reported an increase in revenue causing the company’s stock to rise by 15% following the release.

The company’s net sales for the third quarter totaled $15.84 billion. This was up 12% from sales of $14.15 billion during the same quarter last year and above analysts’ estimates of $15.56 billion.

“Cisco delivered record quarterly revenue in Q3 and we saw very strong, broad-based demand for our products, demonstrating the relevance of our technology for connecting and securing AI,” said Cisco CEO, Chuck Robbins. “Cisco is well-positioned as the critical infrastructure for the AI era, building on our technology leadership and customer trust, while innovating at the speed and scale that our dynamic world demands.” 

Cisco reported net income of $3.37 billion or $0.85 per diluted share for the quarter. This was up from earnings during the same quarter last year of $2.49 billion or $0.62 per diluted share.

Cisco reported an increase in revenue across all its geographic segments. The company’s America segment reported a 14% increase to $9.57 billion for the quarter, and its Europe, Middle East, and Africa segment increased 9% to $4.05 billion. Sales in the Asia, Pacific, Japan and China segment increased 9% to $2.22 billion. The company’s revenue performance was led by growth in its Networking and Observability segments of 25% and 3%, respectively. Cisco’s Board of Directors declared a quarterly dividend of $0.42 per common share payable on July 22, 2026, to stockholders of record at the close of business on July 6, 2026. For the fourth quarter of fiscal year 2026, the company expects revenue to be between $16.7 billion to $16.9 billion.

Cisco Systems, Inc. (CSCO) shares ended the week at $118.21, up 23% for the week.

Jack in the Box Reports Earnings

Jack in the Box Inc. (JACK) reported its second quarter earnings on Wednesday, May 13. Although the company reported quarterly revenue that missed expectations, its shares increased by over 2% following the release.

The company reported revenue of $254.3 million for the quarter, missing analysts’ expected revenue of $256.4 million. Quarterly revenue was down from $265.7 million reported at the same time last year.

“Second quarter results did not meet expectations, however trends have improved into the third quarter,” said Jack in the Box interim CEO, Mark King. “Jack in the Box is an iconic brand, and I am eager to dive in with our passionate team and franchisees to further improve operating results. We plan to accelerate our 'JACK on Track' commitments as we strengthen our foundation to support sustainable, long-term growth.”

The company reported a net income of $10.2 million for the quarter or $0.53 per adjusted share. This is compared to a net loss of $142.2 million or $7.47 per adjusted share during the same quarter last year.

Jack in the Box reported that same-store sales decreased 3.8% during the quarter. The decline in sales was attributable to fewer transactions but partially offset by price increases. During the second quarter, the company reported no changes in net restaurant count with nine restaurant openings and nine closures. Currently, the company has a total of 2,128 locations, a decline from 2,183 locations in the same quarter last year. The company updated its full-year 2026 guidance and expects same-store sales to decline in the low single digits.

Jack in the Box Inc. (JACK) shares ended the week at $10.87, down 21% for the week.

The Dow started the week of 5/11 at 49,549 and closed at 49,526 on 5/15. The S&P 500 started the week at 7,385 and ended at 7,409. The NASDAQ started the week at 26,136 and finished at 26,225.

U.S. Treasury yields rose early in the week as inflation reports revealed April’s consumer and wholesale prices remained above the Federal Reserve’s 2% target. Yields moved higher toward the end of the week despite the latest employment data showing the labor market remains stable.

On Wednesday, the Bureau of Labor Statistics released April’s producer price index (PPI) which indicated a rise in inflation. The April PPI grew 1.4%, exceeding economists’ forecast of a 0.5% increase. The PPI year-over-year came in at 6.0%, which was also higher than economists’ projections of 4.8% and the highest rate since December 2022.

“Inflation is sticky and accelerating,” said global head of market strategy at TradeStation, David Russell. “The core reading confirms a deeper structural trend, especially in services. The Hormuz crisis is aggravating the problem, but this goes way beyond oil.”

The benchmark 10-year Treasury note yield opened the week of May 11 at 4.36% and traded as high as 4.50% on Wednesday. The 30-year Treasury bond opened the week at 4.94% and traded as high as 5.06% on Wednesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 12,000 to 211,000 for the week ending May 9, higher than economists’ expectations of 205,000 claims. Continuing claims increased by 24,000 to 1.78 million.

"The latest jobless claims figures are largely consistent with other labor market data showing a stable-to-improving job market," said lead U.S. economist at Oxford Economics, Nancy Vanden Houten. "The ongoing conflict with Iran could still have some spillover effects on the labor market, but for now the Fed should feel comfortable leaving policy on hold while it monitors inflation."

The 10-year Treasury note yield finished the week of 5/11 at 4.60% while the 30-year Treasury note yield finished the week at 5.12%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, May 14. The survey showed mortgage rates decreasing slightly compared to the previous week.

This week, the 30-year fixed rate mortgage averaged 6.36%, down from last week’s average of 6.37%. Last year at this time, the 30-year fixed rate mortgage averaged 6.81%.

The 15-year fixed rate mortgage averaged 5.71% this week, down from last week’s 5.72%. During the same week last year, the 15-year fixed rate mortgage averaged 5.92%.

“Mortgage rates ticked down this week, averaging 6.36%,” said chief economist at Freddie Mac, Sam Khater. “While purchase demand is softening, it remains above this time last year. Recent data also shows existing-home sales modestly edging up.”

Based on published national averages, the savings rate was 0.38% as of 4/20. The one-year CD averaged 1.53%.

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