While you were sleeping: Adidas wrong-foots

Thu, 31 Jul 2014

By Margreet Dietz Aug. 1 (BusinessDesk) - Equities on both side of the Atlantic sank amid concern about US interest rate policy, a surprise profit warning from Adidas and a decision by Argentina to default on its debt. Shares of Germany’s Adidas tanked 15.5 percent after the company unexpectedly downgraded its full-year earnings outlook citing recent developments in Russia and lower demand for its golf products. Rival Nike’s shares also dropped for the second-largest percent decline in the Dow Jones Industrial Average. “The profit warn...

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