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The other shoe has dropped for struggling sneaker company Under Armour.Under Armour reported quarterly sales Tuesday that fell nearly 5% from a year ago, missing forecasts badly. The company also lowered its outlook for the year again.That news sent the company's two classes of stock down more than 15% Tuesday. They had already lost nearly half their value for the year ahead of the earnings report. (Under Armour's UAA shares have voting rights while the UA shares do not.)CEO Kevin Plank said in the earnings release that the biggest problem is lower demand for its shoes and athletic apparel in its home market of the United States.The Baltimore-based company has been growing internationally, with sales surging in Europe, Latin America and Asia during the quarter.But those markets are still relatively tiny for Under Armour. Revenue in North America makes up more than three-quarters of its overall sales -- and those sales plunged 12% in the third quarter.It's a stunning fall from grace for Under Armour, which not that long ago was gaining market share at the expense of Nike and Adidas.The company signed Golden State Warriors star Steph Curry a few years ago, a move that seemed like a slam dunk success, since Curry has gone on to win multiple NBA MVP awards and two championships.But several iterations of the Curry shoes have routinely been mocked on social media for not looking cool. Even Curry's teammate Kevin Durant, who endorses Nike, poked fun at Under Armour earlier this year.Making matters worse, there have been reports of supply chain issues with the new Curry 4 line of sneakers. And Under Armour confirmed during its conference call with analysts Tuesday that it will delay some products to the fourth quarter.Under Armour also suffered from bad PR earlier this year after Plank agreed to join the White House's now defunct manufacturing council. Plank said in an interview with CNBC that "a pro-business president is something that is a real asset for the country."Curry told The Mercury News that he agreed with Plank -- but only "if you remove the 'et' from asset." Other professional athletes have been vocal about their disagreements with Trump as well.As such, Plank -- like many other CEOs -- has distanced himself from Trump lately.After Trump was reluctant to criticize neo-Nazis at a white supremacist rally, he then bashed Curry for not wanting to visit the White House and attacked athletes who protested the national anthem. Under Armour has come to the defense of its star endorsers.But that hasn't been enough to rejuvenate Under Armour's flagging sales or stock price.Meanwhile, Adidas has thrived in the past year while Under Armour and Nike have both struggled. Even Skechers has enjoyed a resurgence lately.So what can Under Armour do to get back on track? Neil Saunders, managing director of the research firm GlobalData Retail, wrote in a report that the company should continue to focus on expanding globally, which has been successful for Under Armour.But Saunders added that the company has to do more to court women as consumers, as Nike, Adidas and yoga apparel king Lululemon have successfully done."Under Armour is not so broken that it cannot be fixed. But the days of glory, when it would post double-digit uplifts in sales, are over. Now is the time to work out, slim down, and become more competitive," Saunders wrote.  3394

The job market keeps pumping out jobs.The unemployment rate fell to 3.9 percent and the economy added 157,000 jobs in July, the Labor Department said Friday.But workers' average hourly paychecks grew tepidly from the previous month and are up just 2.7 percent compared to the same time last year. During previous expansions, wages have grown at a faster pace. Economists' maintain that wages will rise as economy drains remaining slack from the labor market and businesses' pay more to retain workers.Related: How the US economoy is doing now in four charts"With inflation running at a roughly 2 percent rate, that means that there's not a lot of financial wiggle room for many Americans," said Mark Hamrick, Bankrate.com's senior economic analyst. Economists will get another update on inflation next week when consumer and producer price indexes' are released.A quirk in the calendar may explain why average hourly wages inched up only 7 cents from June to July, explained Josh Wright, chief economist at software firm iCIMS: The Labor Department surveys employers at a different time than when companies pay their workers.On the bright side, the hiring spree has continued as the economy marches along. The economy grew at 4.1 percent during the second quarter, its fastest place in nearly four years.Related: US economy grows at fastest paces since 2014In a statement on Wednesday, the Federal Reserve described a healthy picture of the US economy."Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low," the Fed said. "Household spending and business fixed investment have grown strongly."Although the July hiring number fell below economists' expectations, the government revised the previous months' job gains by an additional 59,000. With revisions, job gains have averaged 224,000 a month over the past three months.So far this year, job growth has averaged 215,000 per month, above last year's pace of 182,000, noted PNC chief economist Gus Faucher.Last month, the manufacturing sector added 37,000 jobs. Economists were watching manufacturing closely for signs of a drag from the Trump administration's escalation of trade tensions with China and allies."It appears to be that the strength of fiscal stimulus measures are outweighing any kind of effect of trade tensions," said Wright from iCIMS.The retail sector also added 7,000 jobs, despite 32,000 jobs lost in sporting goods, hobby, book, music and toy stores.Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent.That's good news for workers without a high school degree and those without a college degree. The unemployment rate ticked down for both groups last month."This is not a labor market in which you're going to get your wish list candidate," Wright said. "The question is, 'Can you hire someone who's good enough?'"The-CNN-Wire 2934

The original cast of "Hamilton" is reuniting Friday for a virtual fundraiser for Democratic presidential nominee Joe Biden.Cast members will include creator Lin-Manuel Miranda and Daveed Diggs, Renée Elise Goldsberry, Jonathan Groff, and Leslie Odom, Jr. as part of a special "grassroots fundraiser" for the Biden Victory Fund.The cast will participate in a Q&A that will be moderated by director Thomas Kail. Cast members will then entertain with a performance afterward.The fundraiser begins at 9 p.m. ET, and any donation is accepted to join the event. 567

The Oklahoma teacher walkout is ending after nine days, Oklahoma Education Association President Alicia Priest said Thursday.After getting 9 million in funding for the next school year, the OEA decided to end the walkout, Priest said in a news conference, though the funding falls short of what they'd hoped to achieve."We need to face reality," Priest told reporters. "Despite tens of thousands of people filling the Capitol and spilling out onto the grounds of this Capitol for nine days, we have seen no significant legislative movement since last Friday."Priest said the OEA had been in negotiations with lawmakers in both the Oklahoma House and Senate, but it became clear that "Senate Republicans won't budge an inch on any more revenue for public education."The OEA had been polling its members throughout the walkout, and Priest said that by Thursday, 70% of respondents indicated they were unsure of continuing the walkout.Priest claimed Oklahoma teachers had secured a "victory." Reporters at Thursday's news conference pressed her, pointing out that the union gained little, if any, additional funding than what they had before the beginning of the walkout.She pushed back, saying, "We also got funding afterwards."Before teachers walked out on April 2, Gov. Mary Fallin signed a bill giving teachers a ,100 raise. The OEA had called passage of the bill a "truly historic moment," but said it didn't go far enough. They wanted that figure to be ,000.Fallin also signed a bill that raised education funding over the next fiscal year by million. The teachers' union also wanted that number to be higher."This fight is not over just because the school bell rings once more and our members walk back into schools," Priest said in a statement. "We have created a movement and there's no stopping us now."Efforts to obtain more educational funding will continue away from the Capitol, Priest said. The OEA will be supporting its members and candidates who are running for office during the midterm elections against those who opposed funding Oklahoma's schools.Teachers had said additional spending was needed, pointing to deteriorating school facilities and rundown or outdated textbooks.The Oklahoma educators' walkout came on the heels of another walkout in West Virginia, where Gov. Jim Justice signed a bill giving teachers a 5% pay raise after nine days. 2405

The popular video-sharing app TikTok, its future in limbo since President Donald Trump tried to shut it down earlier this fall, is asking a federal court to intervene. TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in August. Trump in September gave his tentative blessing to a ByteDance proposal that would place TikTok under the oversight of American companies Oracle and Walmart. But TikTok said this week it’s received “no clarity” from the U.S. government about whether its proposals have been accepted.ByteDance is now asking the U.S. Court of Appeals to review the actions of the Trump administration's Committee on Foreign Investment in the United States (CFIUS), who is overseeing the sale.“For a year, TikTok has actively engaged with CFIUS in good faith to address its national security concerns, even as we disagree with its assessment,” TikTok says in a statement to The Verge. “In the nearly two months since the President gave his preliminary approval to our proposal to satisfy those concerns, we have offered detailed solutions to finalize that agreement – but have received no substantive feedback on our extensive data privacy and security framework.”“Facing continual new requests and no clarity on whether our proposed solutions would be accepted, we requested the 30-day extension that is expressly permitted in the August 14 order. Today, with the November 12 CFIUS deadline imminent and without an extension in hand, we have no choice but to file a petition in court to defend our rights and those of our more than 1,500 employees in the US. We remain committed to working with the Administration — as we have all along — to resolve the issues it has raised, but our legal challenge today is a protection to ensure these discussions can take place.” 1863

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