Under Armour's Stock Higher Off MLB Agreement

Under Armour Inc UA shares are trading higher by $0.74 at $30.77 in Monday's session. The catalyst for the rally is the announcement that the company has confirmed a 10-year deal with Major League Baseball to be the official uniform provider starting in 2020.

Despite the announcement, the issue opened only slightly higher and after a brief retreat to $30.15, it continued to move higher. It has easily surpassed Friday's high ($30.32) and is now marching towards towards Thursday's high of $31.15.

It should be noted the issue made reached its lowest level since July 2014 ($28.39) when it bottomed at $29.60 in Friday's session.