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."
Tuesday, April 28, 2009
Posted by The Shocked Investor at 3:01 PM
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