10 Firms End Stronger on Tuesday

5. Under Armour Inc. (NYSE:UAA)

Under Armour jumped by 5.51 percent on Tuesday to finish at $5.74 apiece following news that infamous basketball player Stephen Curry will receive a $75 million stock grant from the company.

The contract, part of the long-term deal, is reportedly expected to cover the remainder of Curry’s basketball career and can become a lifetime deal, assuming certain conditions are met.

The stock award, around 8.8 million restricted stock units, reportedly will be made in two installments—in 2029 and 2034 as long as Curry remains with Under Armour.

The stock grant was on top of his direct payments from UAA, which reportedly amounts to eight figures annually, as well as the $215-million contract he currently holds with the Golden State Warriors.

In its latest earnings presentation, UAA’s net income for the quarter ending December 2024 fell by 99 percent to $1.2 million from the $110.75 million registered in the same period a year ago, as net revenues dropped 6 percent to $1.4 billion versus $1.49 billion year-on-year.

In the first nine months alone, UAA swung to a net loss of $133.8 million versus a $225-million net profit in the same period year-on-year as net revenues declined by 8.9 percent to $3.98 billion from $4.37 billion.