Under Armour Turnaround Stalls on Curry Exit, Middle East Hit

Under Armour Inc.sank after its guidance for this year missed Wall Street projections, weighed down by exiting a partnership with NBA star Stephen Curry and a financial hit from the conflict in the Middle East.

Annual revenue will decline slightly, but it would have been little changed if the company still had the deal with Curry, the sporting-goods maker said Tuesday. Analysts on average projected a gain of about 2%.

The company’s stock fell about 15% at the open of trading on Tuesday. So far this year, the shares had gained 22%, compared with a 14% advance for the ...