Under Armour, Inc. (UAA) announced its first quarter earnings on Friday, August 8. The sportswear company’s stock dropped 18% after reporting earnings that fell short of analysts’ expectations.

The company reported revenue of $1.13 billion for the first quarter. Revenue was down 4% from $1.18 billion during the same quarter last year and below expectations of $1.15 billion for the quarter.

"We are pleased our quarterly results met or exceeded our expectations as we drive a bold transformation – sharpening Under Armour into a brand where sports credibility, innovation and style meet operational discipline," said Under Armour CEO, Kevin Plank. "Moving ahead, we are focused on strengthening our brand positioning with premium products and increasing our average selling prices through innovative offerings, optimizing our top-volume programs, and creating a more compelling full, price-to-value proposition." 

Under Armour posted a net loss of $2.61 million or $0.01 per adjusted share for the quarter. Last year at this time, the company reported a net loss of $305.43 million or $0.70 per adjusted share.

The Baltimore-based sports apparel manufacturer’s North America segment posted a 5.5% decrease in revenue to $670 million for the quarter. Under Armour’s International segment experienced a 1.4% decrease in revenue to $467 million compared to the prior year. Wholesale revenue decreased 4.6% to $649 million and direct-to-consumer revenue fell 3.5% to $463 million due. Under Armor expects revenue in the second quarter of fiscal 2026 to decrease 6% to 7% and adjusted earnings per share between $0.01 and $0.02.

Under Armour, Inc. (UAA) shares ended the week at $5.17, down 8% for the week.

Dole Releases Second Quarter Results

Dole plc (DOLE) released its second quarter results on Monday, August 11. Despite the exceeding revenue estimates, shares of the global fresh produce company dropped almost 6% following the release.

Dole reported quarterly revenue of $2.43 billion. This was up 14.3% from revenue of $2.12 billion in the same quarter last year and above analysts’ estimates of $2.22 billion.

“[W]e are very pleased to report another strong performance in the second quarter of 2025 and to have achieved an important step forward in our strategic evolution,” said Dole CEO, Rory Byrne. “Group revenue increased 14.3% to $2.4 billion, and adjusted EBITDA increased 9.3% to $137 million. The quarter saw very strong growth in our two Diversified Fresh Produce segments as well as good growth in Fresh Fruit despite some of the expected short-term challenges that we continued to face.”

The company reported a net income of $9.97 million or $0.10 per diluted share for the quarter. This was a decrease in net income from $80.12 million or $0.84 per diluted share in the same quarter last year.

Dole’s Fresh Fruit segment experienced a revenue increase of 14.2%, reaching $121.1 million, which was attributed to higher sales volumes and pricing of bananas and pineapples. The Diversified Fresh Produce division in Europe, the Middle East and Africa reported revenue growth of 16.5%, totaling $155.9 million, due to strong sales in Europe which was partially offset by the effects of foreign currency translation. Revenue in the Diversified Fresh Produce division in the Americas and the Rest of the World region increased 8.5%. Dole declared a dividend of $0.085 per share of common stock, payable on October 6, 2025, to the stockholders of record on September 15, 2025.

Dole plc (DOLE) shares ended the week at $14.02, down 2% for the week.

Cisco Reports Earnings

Cisco Systems, Inc. (CSCO) reported its fourth quarter and full-year results on Wednesday, August 13. Although the international technology company exceeded revenue and earnings estimates, its shares dropped 2% following the release.

The company’s net sales for the fourth quarter totaled $14.67 billion. This was up 8% from sales of $13.64 billion during the same quarter last year but above analysts’ estimates of $14.62 billion. Full-year revenue came in at $56.65 billion.

“We delivered a strong close to fiscal 2025, driven by our accelerated innovation and solid execution,” said Cisco CEO, Chuck Robbins. “The AI infrastructure orders we received from webscale customers in fiscal 2025 were more than double our original target, indicating a massive opportunity ahead as we lead the required architectural shift and build the critical infrastructure needed for the AI era.” 

Cisco reported net income of $2.82 billion or $0.71 per diluted share for the quarter. This was up from earnings during the same quarter last year of $2.16 billion or $0.54 per diluted share. The company reported net income of $10.45 billion for the year.

Cisco reported an increase in revenue across all geographic segments. The company’s America segment reported a 9% increase to $8.8 billion for the quarter, and its Europe, Middle East, and Africa segment returned an increase of 4% to $3.6 billion. Sales in the Asia, Pacific, Japan and China segment rose by 7% to $2.2 billion. The company reported more than $800 million in AI infrastructure orders from webscale customers during the fourth quarter. Cisco’s board of directors declared a quarterly dividend of $0.41 per common share payable on October 22, 2025, to stockholders of record at the close of business on October 3, 2025. For fiscal year 2026, the company expects revenue to be between $59.0 billion to $60.0 billion.

Cisco Systems, Inc. (CSCO) shares ended the week at $66.20, down 8% for the week.

The Dow started the week of 8/11 at 44,184 and closed at 44,946 on 8/15. The S&P 500 started the week at 6,650 and ended at 6,X. The NASDAQ started the week at 21,460 and finished at 21,623.

U.S. Treasury yields rose towards the end of the week following the release of higher-than-expected monthly producer prices. Yields continued to rise on Friday as investors wait for next week’s Federal Reserve meeting.

On Thursday, the Bureau of Labor Statistics released July’s producer price index (PPI) which indicated a rise in inflation. The July PPI grew 0.9%, exceeding economists’ estimates of a 0.2% growth. Year-over-year, the increase in wholesale prices reached 3.3%, the highest level since February and well above the Federal Reserve’s 2% target.

“The large spike in the Producer Price Index this morning shows inflation is coursing through the economy, even if it has not been felt by consumers yet,” said chief investment officer at Northlight Asset Management, Chris Zaccarelli. “Given how benign the CPI numbers were on Tuesday, this is a most unwelcome surprise to the upside and is likely to unwind some of the optimism of a ‘guaranteed’ rate cut next month.”

The benchmark 10-year Treasury note yield opened the week of August 11 at 4.29% and traded as high as 4.32% on Tuesday. The 30-year Treasury bond opened the week at 4.85% and traded as high as 4.91% on Tuesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment were 224,000 for the week ending August 9. This was down 3,000 from the prior week and fell below expectations of 228,000. Continuing unemployment claims decreased by 15,000 to 1.95 million.

“Viewed in isolation, those (claims) figures would suggest that labor market conditions remain strong,” said chief economist of Wrightson ICAP, Lou Crandall. “However, we give more weight to the softer trend in the payroll series over the last three months, which obviously tells a different story.”

The 10-year Treasury note yield finished the week of 8/11 at 4.32, while the 30-year Treasury note yield finished the week at 4.92%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, August 14. The survey showed mortgage rates continuing to decrease from the previous week.

This week, the 30-year fixed mortgage rate averaged 6.58%, down from last week’s average of 6.63%. Last year at this time, the 30-year fixed mortgage rate averaged 6.49%.

The 15-year fixed mortgage rate averaged 5.71% this week, down from last week’s average of 5.75%. During the same week last year, the 15-year fixed mortgage rate averaged 5.66%.

“Mortgage rates fell to their lowest level since October,” said chief economist at Freddie Mac, Sam Khater. “Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates.”

Based on published national averages, the savings rate was 0.38% as of 7/21. The one-year CD averaged 1.63%.

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