Shares of Under Armour (UAA) - Get Report closed lower by 8.6% to $18.30 on heavy trading volume on Tuesday afternoon, as the athletic apparel company plans to cut about 2% of its workforce and cut its sales forecast for the year.
Under Armour did post better than expected financial results for the second quarter, but that wasn't enough for investors.
Shares of global tech company Pitney Bowes (PBI) - Get Report fell by 15.4% to $13.31 this afternoon after the company posted a second quarter earnings miss, although revenue was in line with expectations.
Pitney Bowes earnings came in at 33 cents per share, missing the 36 cents per share analysts had forecast.
Eaton Corp. (ETN) - Get Report stock finished the day down by 5% to $74.26 on Tuesday afternoon, as the electric utility company posted second quarter earnings and revenue that were roughly in line with expectations. However, its electric product margins fell short of expectations and order growth did not accelerate despite an easing of comps.
The downgrade comes as the firm anticipates slow organic growth.
This story has been updated from its original publish time of 10:46 a.m.
Watch More with TheStreet:
- This Is What Anthony Scaramucci Had to Say About Trump When He Was Gunning for a While House Job
- This Is What to Expect From Apple's Earnings on Tuesday
- Tesla Is On Fire! Here Are 20 Eco-Friendly, Gas Conscious Vehicles.
- We Asked, You Answered: Who Should Be The Next CEO Of Uber?