Market Overview

Under Armour Gets A Boost From Skechers Q3 Beat

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Under Armour Inc (NYSE: UAA) shares are trading higher by 63 cents (4.3 percent) at $17.08 in Friday's session.

Investors are showing interest in the stock and others in the sector after Skechers (NYSE: SKX) posted a solid Q3 EPS along with a slight beat for sales. As a result of that beat, Skechers shares are trading higher by $9.50, or 40 percent, at $33.53.

See Also: Skechers Overseas Investments Begin To Pay Off; Susquehanna Says Buy The Stock

After a higher open, Under Armour found support just above the top of Thursday's range ($16.52) at $16.53 and continued its move higher. So far, the ensuing rally has taken the stock to $17.25. The current high coincides with its Sept. 19 high ($17.21), but is well shy of its Sept. 18 high ($17.99).

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