Callaway Golf -4% after Tiger signs with TaylorMade

• Shares of Callaway Golf (NYSE:ELY) are down 4% after Tiger Woods signs with rival club maker TaylorMade.
• The 14-time Major champion signed a multi-year deal with TaylorMade that includes the use of the brand's driver, fairway woods, irons and wedges. Woods is sticking with a Scotty Cameron putter.
• Adidas (OTCQX:ADDYY) owns TaylorMade and Acushnet Holdings (NASDAQ:GOLF) owns Scotty Cameron.