Market Movers Today: Merck & Co., Inc. (MRK), Under Armour Inc (UA), General Electric Company (GE), and More

Merck & Co., Inc. (NYSE:MRK) (Ticker.tv)
On Tuesday before the market opened, shares of Merck & Co ($MRK) were gapping up on news of positive results from their lung cancer trial. Merck’s lung cancer treatment, Ketruda, performed better than expected in a late-stage, Phase 3 trial which has “significantly improved overall survival and progression-free survival”. This is a big step in the right direction and has investor excited for its potential as you can see by the price action this morning with a 5% gap up from Friday’s close.

lassedesignen/Shutterstock.comstocks

Under Armour Inc (NYSE:UA) (Barron’s)
Why did Vasilescu throw in the towel on Under Armour? First, he expects Under Armour to earn a lot less than he previously did, with earnings before interest and taxes estimate to $25 million in 2018. That’s a huge cut from his previous estimate for $85 million. That’s based on his new gross margin and selling, general and administrative assumptions, as well as his expectation that revenue will fall 1%. Secondly, he expects Under Armour will have to amend its credit agreement, given that its maximum last 12 months total debt to EBITDA ratio is 3.25 times, which it looks set to exceed.

Spi Energy Co Ltd (ADR) (NASDAQ:SPI) (Benzinga)
Spi Energy Co Ltd (ADR) (NASDAQ:SPI) rose 199.2 percent to $1.900 in pre-market trading after announcing establishment of Blockchain-based infrastructure application division.

General Electric Company (NYSE:GE) (Fox Business)
General Electric Company (NYSE:GE)’s stock fell 3.2% after the conglomerate said a review of GE Capital’s insurance portfolio would result in a $6.2 billion after-tax charge (http://www.marketwatch.com/story/ges-stock-sinks-after-unveiling-62-billion-charge-in-q4-2018-01-16) in the fourth quarter.