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Under Armour Inc. was downgraded to hold from buy at SunTrust Robinson Humphrey on concerns about the challenges the company faces in the domestic wholesale channel. Its price target was cut to $14 from $25. Under Armour shares are down 1.2% in Wednesday premarket trading. Analysts led by Pamela Quintiliano think the company’s shares are “range-bound” in the near-term as it manages industry hurdles like a slowdown in the athletic category and internal issues like excess inventory and a company-wide restructuring. “We think the changes Under Armour is making leaves them well positioned to excel in the long-term though we see a turn several quarters out, at least,” the note said. High inventory levels create “a layer of markdown risk,” and the company’s deep wholesale exposure mean the brand “is not necessarily in control of its destiny,” according to SunTrust. Under Armour shares closed down 23.7% in Tuesday trading after a disappointing results, and are down 59% for the last year. The S&P 500 index is up 22% for the past 12 months.

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The New York Times Co. on Wednesday reported net income of $32.3 million, or 20 cents per share for the third quarter, compared with income of $406,000, or break even in the same quarter a year ago. Adjusted earnings per share were 13 cents, above FactSet’s consensus of 8 cents. Total revenue for the quarter was $385.6 million, up from $363.5 million a year ago, but below FactSet’s revenue consensus of $390.0 million. The New York Times said overall subscription revenue for the quarter increased nearly 14% year over year, while advertising revenue dropped 9%. The news organization’s digital properties were the main driver for the increase in subscription revenues. While print advertising revenue declined more than 20%, digital advertising revenue increased 11% and accounted for more than 43% of the total advertising revenue. Shares of the New York Times Co. are up nearly 44% in the year to date, while the S&P 500 index is up 15% and the Dow Jones Industrial Average is up more than 18%.

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Shares of General Electric Co. fell 0.7% in premarket trade Wednesday, putting them in danger of an eighth straight loss, after J.P. Morgan cut its price target to suggest a further 16% selloff. An eight-session losing streak would be the longest since the eight-day stretch ending July 29, 2016. The industrial conglomerate’s stock, on track to open at a 5-year low, has tumbled 15.4% over the past seven sessions, in the wake of third-quarter results. J.P. Morgan analyst C. Stephen Tusa cut his price target to $17, which is 16% below Tuesday’s closing price, from $19, to make him the most bearish of the 20 analysts surveyed by FactSet. He reiterated his underweight rating, which he’s had on GE since May 2016. His lower price target reflects cuts to earnings estimates, on the back of lower profits assumptions from GE’s power business given a lower revenue and margin outlook and accounting-change headwinds. The stock had plunged 36% year to date through Tuesday, while the Dow Jones Industrial Average had rallied 18%.

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DSW Inc. was downgraded to neutral from outperform at Wedbush on concerns that warm weather could thwart boot sales. Its price target was lowered to $20 from $23. Wedbush analysts led by Christopher Svezia note the unseasonably warm weather in many metro areas where DSW operates. “We felt a good start to the season in October would set-up a chase environment and lead to upside in comp and margins,” the Wednesday note said. “Given the slower start from uncooperative weather, it caps some of the upside that we hoped would have developed during the second half.” DSW shares are down 2.1% in Wednesday premarket trading, and down 15.5% for the year so far. The S&P 500 index is up 15% for 2017 to date.

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Pitney Bowes Inc. shares surged 7.4% in premarket trade Wednesday before reversing course to trade down 11%, after the technology company that’s best known for its postage meters and mailing equipment said it has started a review of its strategic alternatives. The company said it has hired Lazard as a financial adviser and Cravath, Swaine and Moore LLp as a legal adviser to help with the process. It made the announcement as it reported third-quarter earnings, with net income of $57.4 million, or 31 cents a share, down from $65.5 million, or 35 cents a share, in the year-earlier period. Adjusted per-share earnings came to 33 cents, below the FactSet consensus of 42 cents. Revenue came to $842.8 million, up from $839.0 million, ahead of the FactSet consensus of $832 million. “Our third-quarter revenue performance was largely in-line with our expectations; however our bottom line results fell short as we continued to realign our businesses to higher growth areas and invest in new business opportunities, products and solutions,” Chief Executive Marc Lautenbach said in a statement. The company lowered its guidance for full-year EPS to a range of $1.38 to $1.46 from a prior $1.70 to $1.78. Shares are down about 10% in 2017 through Tuesday, while the S&P 500 has gained 15%.

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Argentine cement and concrete manufacturer Loma Negra Compania Industrial Argentina SA priced its initial public offering at $19 a share, the top end of its price range. The company is the second Argentine IPO to price this year and the fifth since 2001. The company sold 50.2 million American Depositary Shares to raise $954 million. Shares will start trading later Wednesday on the New York Stock Exchange under the ticker symbol “LOMA.” Separately, Altair Engineering Inc. , a product design and development, engineering software and cloud computing software company, priced its IPO at $13, the top end of its price range. The company sold 12 million shares to raise $156 million. The Troy, Mich.-based company’s stock will start trading on the Nasdaq later Wednesday under the ticker symbol “ALTR.”

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SodaStream International Ltd. shares rose 4.4% in Wednesday premarket trading after the company reported third-quarter earnings that beat expectations and raised its full-year outlook. Net income for the quarter reached a record according to SodaStream, totaling $19.8 million, or 87 cents per share, up from $14.9 million, or 69 cents per share, for the same period last year. The FactSet consensus is 76 cents per share. Revenue totaled $139.8 million, up from $124.2 million, and ahead of the $135.0 million. SodaStream now expects 2017 revenue of $536.0 million, compared with previous guidance of $523.0 million, and EPS of $2.90, up from $2.70. The FactSet consensus is for sales of $525.1 million and EPS of $2.75. SodaStream shares are up 149.7% for the past year, outpacing the S&P 500 index , which is up 22% for the period.

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Allergan PLC shares rose 4.4% premarket Wednesday after the company reported a third-quarter profit beat and tweaked its 2017 earnings guidance. The company reported a loss of $4.02 billion, or a loss of $12.05 per share, after a loss of $266.4 million, or a loss of $1.15 per share in the year-earlier period. Adjusted earnings-per-share were $4.15, above the FactSet consensus of $4.04. Revenue rose to $4.034 billion from $3.622 billion, compared with the FactSet consensus of $4.037 billion. The company’s central nervous system revenue came to $355.2 million, compared with the FactSet consensus of $355.4 million; gastrointestinal revenue came to $443.5 million, compared with the FactSet consensus of $439.4 million; women’s health revenue came to $265.7 million, above the FactSet consensus of $258.4 million, and diversified brands revenue came to $318.7 million, below the $343.9 million FactSet consensus. Allergan lowered its 2017 EPS guidance to a loss of $20.05 to $20.35 from previous guidance of a loss of $10.80 to $11.20 and raised the lower end of its 2017 adjusted EPS guidance to $16.15 to $16.45 from previous guidance of $16.05 to $16.45. The company narrowed its 2017 revenue guidance to $15.88 million to $16.03 million from previous guidance of $15.85 million to $16.05 million. Allergan also said it plans to appeal a patent court loss on its key dry eye medication Restasis. “If a generic product enters the market, Allergan is ready to mitigate that impact by growing our base business, reducing costs and deploying our balance sheet,” the company said. Allergan shares have dropped 29.7% over the last three months, compared with a 4% rise in the S&P 500 .

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Molson Coors Brewing Co. on Wednesday reported net income of $280.2 million for the third quarter, or $1.29 earnings per share, compared with pro forma net income of $318.9 million, or $1.47 per share during the same quarter a year ago. Adjusted earnings per share were $1.34, even with FactSet’s consensus for $1.34 earnings per share. Revenue for the quarter was $2.88 billion, down from pro forma revenue of $2.94 billion a year ago, and below FactSet’s $2.97 billion revenue consensus. Shares of Molson Coors were inactive in premarket trade. “Despite challenging market conditions in North America, we remain on track to deliver our 2017 business and financial plans and exceed our original cost savings targets and cash flow goals,” said Molson Coors Chief Executive Mark Hunter in a statement. He also said, that a year since the close of the company’s acquisition of MillerCoors, Molson Coors is focusing on building up it’s international business. International sales increased nearly 97% year over year to $65.7 million, while sales in the U.S. declined close to 6% to $1.89 billion. Shares of Molson Coors have declined almost 17% in the year to date. By comparison, the S&P 500 index is up 15% and the Dow Jones Industrial Average is up more than 18%.

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Pitney Bowes Inc. shares surged 7.4% in premarket trade Wednesday, after the technology company that’s best known for its postage meters and mailing equipment said it has started a review of its strategic alternatives. The company said it has hired Lazard as a financial adviser and Cravath, Swaine and Moore LLp as a legal adviser to help with the process. It made the announcement as it reported third-quarter earnings, with net income of $57.4 million, or 31 cents a share, down from $65.5 million, or 35 cents a share, in the year-earlier period. Adjusted per-share earnings came to 33 cents, below the FactSet consensus of 42 cents. Revenue came to $842.8 million, up from $839.0 million, ahead of the FactSet consensus of $832 million. “Our third-quarter revenue performance was largely in-line with our expectations; however our bottom line results fell short as we continued to realign our businesses to higher growth areas and invest in new business opportunities, products and solutions,” Chief Executive Marc Lautenbach said in a statement. The company lowered its guidance for full-year EPS to a range of $1.38 to $1.46 from a prior $1.70 to $1.78. Shares are down about 10% in 2017 through Tuesday, while the S&P 500 has gained 15%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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