Spieth Induced Spike In Under Armour Fades After Inline Earnings

'' Under Armour

shares are trading lower by $4 at $83.76 in Tuesday's session. Despite posting in-line EPS ($0.05 vs. Est. $0.05) with sales of $804.9M vs. Est, $802.53 and raising fiscal sales outlook, the issue is under selling pressure in today's session. A possible reason for the decline off the report is the run-up in its share price prior to the report. As expected the shares had undergone a "Spieth Spike" as the not so well known golfer pulled off an amazing victory in the 2015 Masters Championship on April 12. As the young golfer dominated the field, sporting his Under Armour attire, investors flocked to the issue the following Monday, rallying the issue from $83.75 to $85.11 the following day. .The upward momentum pushed the issue to is all time high in Monday's session at $88.78, before falling back to settle to $87.76. When the company do not produce a blow-out quarter, the Spieth premium built into the issue has evaporated. After bottoming at $83.25 earlier in the session, it has returned to the $84, or the same level it was trading at before Spieth's impressive win in the Master.