The company reported a beat this morning prompting Under Armour shares (+7%) higher and just shy of $15.00/share. The stock is trading presently in a tight range pre-market between 14.50 to 15.29. Marketsmith charts show support at the 21d moving average, where buyers responded on Thursday.
Under Armour (UAA) Reports a Beat Q2 EPS $0.26 vs. Street Est. of $0.03
“Under Armour (UAA) reported 3rd Quarter September 2020 earnings of $0.26 per share on revenue of $1.4 billion. The consensus earnings estimate was $0.04 per share on revenue of $1.2 billion. The Earnings Whisper number was $0.04 per share. Revenue grew by 0.2% on a year-over-year basis.
The company said it expects a 2020 loss of $0.49 to $0.47 per share with revenue down at a high-teen percentage rate or revenue of approximately $4.35 billion. The current consensus estimate is a loss of $0.68 per share on revenue of $3.89 billion for the year ending December 31, 2020.”Earningswhispers.com
Under Armour will sell its MyFitnessPal platform to Francisco Partners in a transaction valued at $345 million.
Price action has been forming the right side of a cup pattern for the past 6 weeks, fading to the 21d moving average over the past few days. Volume picked up on Thursday going into the Q3 report.
If price action remains firm, we are looking to trade UAA above 15.00 targeting a measured move (depth of pattern) of +5pts or $20.00/share. If price action fails to confirm we will pass.
In other news Apple, Facebook, Google, and Amazon reported earnings, setting the tone going into the opening bell. All are lower with the exception of Google (+125.26 at 1682.14).
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
Want to become a member? Check details here:
Disclosure: As an #ibdpartner, that means my use of investors’ business daily suite of services is complimentary. I also receive compensation from the company for my technical analysis services.
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.