Baltimore-Based Under Armour Booted From The S&P 500

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BALTIMORE (WJZ) — Sportswear giant Under Armour Inc. has been booted from the S&P 500 and replaced, the S&P Dow Jones Indices announced Monday.

The Baltimore company and IPG Photonics Corp are moving down to the S&P MidCap 400 list. Rising to replace them in the S&P 500 are Keurig Dr Pepper Inc. and ON Semiconductor Corp.

The development comes after Under Armour reported a loss of $59.6 million in the first three months of the year last month.

This is a developing story and will be updated.