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Under Armour Sharply Higher On Upbeat Q3 Results, Guidance

Shares of Under Armour, Inc. (UAA) continue to see substantial strength in afternoon trading on Tuesday after gapping open sharply higher. After reaching its best intraday level in four months, Under Armour is currently up by 25.5 percent.

The initial jump by Under Armour came after the athletic apparel maker reported better than expected third quarter results and raised its full-year guidance.

Under Armour reported third quarter adjusted earnings of $0.25 per share on revenues of $1.44 billion compared to analyst estimates for earnings of $0.12 per share on revenues of $1.41 billion.

Looking ahead, Under Armour now expects full-year adjusted earnings of $0.19 to $0.22 per share versus the previous expectation of $0.16 to $0.19 per share.

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