Under Armour (UAA) - Get Report announced that former CEO of The ALDO Group Patrik Frisk will be taking over as the company's president and COO effective July 10. The company also announced other management changes to "align its organizational structure to better leverage its digital business, support its move toward category management, and drive greater operational efficiency across the organization."

UAA named Paul Fipps as chief technology officer and Colin Browne as chief supply chain officer, and recently tapped Kevin Eskridge as chief product officer. Frisk and Fipps will report directly to CEO Kevin Plank, while Eskridge will report to Frisk. 

Under Armour shares have fallen nearly 26% year to date and the stock has declined about 40% over the past 12 months. The athletics-wear manufacturer's shares rose about 1% to close at $21.77 Tuesday.

(Editor's note: This story has been corrected.) 

What's Hot On TheStreet

Another bank is bullish on Alibaba: JP Morgan initiated Chinese e-commerce giant Alibaba (BABA) - Get Report with an overweight rating and $190 price target in a new note Tuesday, representing more than 30% growth over Monday's closing price of $142.73. In JP Morgan's eyes, Alibaba is entering a transformation from a pure play e-commerce company to a data-driven beast that stands to power its bottom line more than most expect.

"We believe Alibaba's core commerce is expanding from traffic monetization to data monetization and such trend will quickly expand to its media/cloud businesses," writes JP Morgan analyst Alex Yao. "Such expansion not only allows Alibaba to tap into non-transaction-based corporate budget (e.g. market research, brand awareness, and customer service), but also supports our investment thesis based on sustainable revenue/earnings growth."

A key Walmart business springs back to life: Walmart (WMT) - Get Report is starting to see long-awaited sales growth at its U.K. Asda division as Britons shift their shopping habits towards food purchases with a slump in consumer confidence and surging inflation, TheStreet's Lisa Botter reports. Sales at Asda rose by 2.2% for the 12-weeks ended June 18, well ahead of the 0.9% pace notched in the 12 weeks to May 21, according to new data from research firm Kantar.

Different strategies emerge in driver-less cars: Alphabet Inc.'s (GOOGL) - Get Report deal with rental car giant Avis Budget Group Inc. (CAR) - Get Reportto have Avis manage some self-driving test cars developed by Alphabet's Waymo unit and Fiat Chrysler FCAU feels a little overblown, writes TheStreet's Eric Jhonsa. The deal only covers test cars deployed in one metro area (Phoenix, Ariz.), and isn't exclusive, Jhonsa points out.

Meanwhile, Apple Inc.'s (AAPL) - Get Report deal with Avis rival Hertz Global Holdings Inc. (HTZ) - Get Report feels even smaller. Apple, which has reportedly been testing a half-dozen self-driving cars around the San Francisco Bay Area, is just leasing a small number of Lexus RX450h SUVs from Hertz, with the idea of retrofitting them with self-driving test systems.

Either way, Jhonsa says both deals represent quite the contrast with what Tesla Inc. (TSLA) - Get Report is trying to pull off. Elon Musk seems to want to go it all alone.

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