U is trading at $24.22 (-6.20%) as broader market weakness and sector-wide pressure weigh on the stock.
- Major indices are trending lower following warnings from ServiceNow and IBM regarding delayed deals, compounded by escalating Iran tensions after recent ship seizures.
- Bearish options activity spiked on April 22 with a put/call ratio of 1.83, signaling increased trader pessimism ahead of the company's May 7 earnings report.
- There is no company-specific news today, suggesting the move is primarily driven by macro factors and peer performance.