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Mark Lennihan/AP

Under Armour shares fell more than 28% on Tuesday, following a disappointing earnings announcement in which it dramatically dialed back expectations for revenue growth in 2017.

(function () { var attempt = 0, init = function(){ if (window.pym) { var pymParent = new pym.Parent("2017-01-31-underarmour", "https://graphics.axios.com/2017-01-31-underarmour/2017-01-31-underarmour.html", {}); } else if (attempt++ < 40) { setTimeout(init, 50); } }; init(); })();

Data: Money.net; Chart: Andrew Witherspoon / Axios

Why investors are grumpy: Under Armour is a quickly growing company, gunning for well-established brands like Nike. It's stock price relative to its actual earnings has been more than three times the average consumer goods firm, and that means that investors must see very large, continuous revenue gains to continue to hold the stock. Even though Under Armour projects 11% or 12% top-line growth this year, that was roughly half what analysts were expecting.

Go deeper

Updated 28 mins ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — U.S. tops 88,000 COVID-19 cases, setting new single-day record.
  2. Politics: States beg for Warp Speed billions.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. 🎧Podcast: The vaccine race turns toward nationalism.
40 mins ago - Health

States beg for Warp Speed billions

A COVID-19 drive-thru testing center yesterday at Hard Rock Stadium in Miami Gardens. Photo: David Santiago/Miami Herald via AP

Operation Warp Speed has an Achilles' heel: States need billions to distribute vaccines — and many say they don't have the cash.

Why it matters: The first emergency use authorization could come as soon as next month, but vaccines require funding for workers, shipping and handling, and for reserving spaces for vaccination sites.

Court rules Minnesota absentee ballots must be received by 8 p.m. Election Day

An election judge drops a ballot in a ballot box at a drive through drop-off for absentee ballots in Minneapolis. Photo: Stephen Maturen/Getty Images

An appeals court on Thursday ruled that Minnesota absentee ballots must be received by 8 p.m. on Election Day to be counted.

Why it matters: The ruling, which comes just five days before the election, blocks the state's plan to count absentee ballots arriving late so long as they're postmarked by Nov. 3 and delivered within a week of the election. Now those ballots must be set aside and marked late.