Under Armour Looks for the Cam Newton Effect (UA, NKE)
Under Armour, Inc. (NYSE: UA) is not seeing a Halo-effect from its latest athlete endorsement. CNBC has reported that Heisman Trophy winner Cam Newton of Auburn has signed an endorsement pact with the sporting apparel maker. The deal appears to…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
We have not been able to find any terms of the deal, and we’d expect for those to be kept private if possible. What was said by CNBC and other outlets is that this will be the largest ever for an incoming NFL rookie. What makes this so unique is that the NFL draft does not even take place until April 28 to 30.
A video article at NFL.com questioning his latest training moves is even preceded by an Under Armour video ad, a signal that Under Armour does not want to be outdone on its new pact.
So far there is nothing at all like a Tiger Woods or Michael Jordan impact. Under Armour shares are slightly negative in the red today at $69.75 while Nike shares are also in the red at $85.55.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
