Tuesday, April 28, 2009

Under Armour Shares Rise on Earnings

Our first straddle of the week is big winner. Shares of Under Armour Inc. rose 15% after the athletic apparel and footwear company reported a 38 percent jump in profit for its first quarter, surpassing expectations.

(click to enlarge)

"The Baltimore-based company said its profit rose to nearly $4 million, or 8 cents per share, for the quarter ended March 31, well above analysts expectations of 3 cents per share. That's up from $2.9 million, or 6 cents per share, that the company reported for the first quarter of the prior year. Revenue rose 27 percent to $200 million.

The gain was largely due to strong sales of Under Armour's new running shoe, its first foray into that category."

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