Under Armour Inc. (NYSE:UA) reported its third quarter results Thursday morning, and it managed to beat expectations. But you wouldn't know that if you looked at its stock price today. It's been trading in the -6% loss territory all day.
Under Armour even set a record in the 3rd quarter by having their first ever $1 billion revenue quarter. In fact, they topped $1.2 billion in revenue and yet, it wasn't enough for investors today. Revenue jumped 28%, topping the $1.18 billion Wall Street expected from Under Armour. Earnings per share also advanced, rising to .45 from .41 a year ago, topping the .44 that analysts were looking for. Is this just profit taking or is there something else going on? I'll share with you my thoughts on Under Armour.
As readers of this blog will know, I have a positive long-term outlook for gold and I expect to see the market regroup in the next few days and start to move higher.
Dow Jones Index (INDEX:DJI)
The Dow moved to its best levels in over eight weeks as did the S&P 500. The only laggard was the NASDAQ which is dragging its heels a bit, but it still moved to its best levels in over four weeks.
Microsoft Corporation (NASDAQ:MSFT)
Microsoft gave a buy signal today at $48.41. The market is currently trading around those levels as I write this.
Pepsico Inc. (NYSE:PEP)
Another stock I will be looking at is PepsiCo which soared to new highs today.
Amazon.com Inc. (NASDAQ:AMZN)
I will share with you why I'm still very positive on Amazon which is reporting its Q3 earnings after the close today. The consensus EPS forecast for the quarter is $-0.1. Will this be enough to propel the stock a new all-time high?
Stay focused and disciplined.
Every success with MarketClub,