Under Armour Gaps Up Near Buy Point On Earnings

$Under Armour-A(UAA.US)$ Under Armour stock is near buy range Tuesday after the athletic wear company reported third-quarter results that beat Wall Street expectations.

Estimates: FactSet analysts saw Under Armour earnings falling to 15 cents per share with sales edging up to $1.48 billion.

Results: Under Armour earnings per share unexpectedly rose 19% to 31 cents as revenue climbed 8% to $1.55 billion. North American revenue increased 8% to $1 billion. Apparel revenue rose 14% percent to $1.1 billion while footwear sales were up 10% to $330 million.

Outlook: Under Armour sees full-year adjusted EPS of 74 cents, up from an earlier estimate of 50-52 cents. Revenue is seen rising 25%, up from a previous outlook for low twenties increase.

Nike (NKE) $Nike(NKE.US)$ shares edged up 0.9% to 167.83 early Tuesday. NKE stock is forming a cup base with a 174.48 entry.

Foot Locker $Foot Locker(FL.US)$ (FL) rallied 1.1%. FL stock is in a downtrend and pared gains at the 50-day line.