Under Armour’s stock gains as upbeat outlook shows turnaround gaining ‘traction’

Under Armour Inc.’s stock rose 2% in premarket trading on Tuesday after the sports-clothing giant’s fiscal first-quarter outlook topped Wall Street estimates, with its chief executive saying the company’s turnaround efforts are bearing fruit.

Under Armour

UA said it expects to generate an adjusted first-quarter profit of 1 cent to 3 cents a share, while analysts are currently forecasting the Philadelphia-based company to break even in the quarter.