Under Armour Inc (NYSE: UA)
Under Armour shares took skyrocketed in the premarket Tuesday morning following a strong fourth quarter earnings release.
The company announced breakeven adjusted earnings per share, matching analyst expectations, on $1.4 billion in revenues while analyst were looking for $1.3 billion.
They are also expecting to save roughly $75 million in 2018 following a restructuring plan and is expecting to have adjusted earnings between 14 and 19 cents for the year. Analyst were looking for around 21 cents for 2018.
As you can see in the 5-minute chart above, shares of $UA are taking off and as of the time of this writing are trading in the $14.50 range after closing Monday at $13.18. Shares of $UA have taken a beating the past couple years but have found a solid base at $10 and are looking to make their way back towards the 200-day moving average at $15.89.
We should see $14 act as support depending on where shares open followed up by $13.75 and $13.50. Resistance will be at $15 and the 200-day moving average at $15.89.
Keep this one on your radar today as there will be plenty of volatility and volume which should provide plenty of opportunities for active traders.
“After years of rapid growth and building a globally recognized brand, the dynamic landscape of 2017 was a catalyst for us to begin strategically transforming Under Armour into an operationally excellent company,” said Under Armour Chairman and CEO Kevin Plank. “A year into this journey, our fourth quarter and full year results demonstrate that the tough decisions we’re making are generating the stability necessary to create a more consistent and predictable path to deliver long-term value to our shareholders.”
Under Armour Profile
Under Armour, Inc., together with its subsidiaries, develops, markets, and distributes branded performance apparel, footwear, and accessories for men, women, and youth primarily in North America, Europe, the Middle East, Africa, the Asia-Pacific, and Latin America.
The company offers its apparel in compression, fitted, and loose types to be worn in hot, cold, and in between the extremes. It also provides various footwear products, including running, basketball, cleated, slides and performance training, and outdoor footwear. In addition, the company offers accessories, which include headwear, bags, and gloves; and digital fitness platform licenses and subscriptions, as well as digital advertising.
Under Armour, Inc. primarily provides its products under the UA Logo, UNDER ARMOUR, UA, ARMOUR, HEATGEAR, COLDGEAR, ALLSEASONGEAR, PROTECT THIS HOUSE, and I WILL, as well as ARMOURBITE, ARMOURSTORM, ARMOUR FLEECE, ARMOUR BRA, UA RECORD, UA HEALTHBOX, and UNDER ARMOUR CONNECTED FITNESS brands.
The company sells its products through wholesale channels, including national and regional sporting goods chains, independent and specialty retailers, department store chains, institutional athletic departments, and leagues and teams, as well as independent distributors; and directly to consumers through a network of brand and factory house stores, and Website. Under Armour, Inc. was founded in 1996 and is headquartered in Baltimore, Maryland. –YahooFinance