Why Apparel Retail Stocks Were Moving Higher Today [The Motley Fool]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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US:NYSE Investor Relations:
investor.underarmour.com/investors.cfm
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Source: The Motley Fool
What happened were gaining today after the Federal Reserve announced another rounding of funding to help shore up the economy. The central bank said it would provide $. trillion in loans, including $600 billion as part of its Main Street Lending Program, designed to support small and medium-sized businesses with up to 0,000 employees and up to $. billion in revenue.Investors saw the announcement as a bullish sign for the recovery, and sent stocks up broadly.Hard-hit retailersUnder Armour(NYSE:UAAFoot LockerNYSE:FLUrban OutfittersNASDAQ:URBNRalph LaurenNYSE:RL 00Image source: Getty Images.So whatThe Fed's announcement came after retailers announced broad furloughs and layoffs in recent weeks, as they've been forced to close stores and conserve cash. This morning, the Department of Labor also announced that 6.6 million Americans had filed for unemployment last week, meaning that more than 6 million workers have gone on unemployment in the last three weeks, a sign that the economy is sti
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