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

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.