Under Armour (UA) has just reported earnings this morning. Here are the highlights: Revenue increased 23% to $472 million. Income decreased 47%, though largely because of planned marketing expenses. The company has also raised its outlook for the entire year. Under Armour says it is placing renewed focus on creating innovative clothing products. It also cited strength in its footwear business. The stock hit its 52-week high back in September. It has gained about 15% year to date.
Up next we have Chipotle (CMG), which has been up more than 5% in early trading. Chiptole beat the street when it reported earnings after the bell yesterday. It posted profits of $2.45 a share compared with estimates of $2.13. You may recall, fund manager Jeffrey Gundlach sent shares tumbling more than 3% last week when he joked that a gourmet burrito is an oxymoron. Shares of Chipotle are now at about $345 a share, about midway between their 52-week high and low. The high of $440 was exactly 1-year ago.
Now Restoration Hardware (RH), which has also been on a tear in the wake of its earnings. The home products chain reported a loss for the fourth quarter, but its adjusted results beat expectations. In addition, the company improved its outlook. Restoration Hardware is chalking its losses up to costs stemming from its IPO which it held back in November. Adding in this morning's gains, the stock is up about 10% since then.
Finally, we look at Vertex Pharmaceuticals (VRTX) which is up an astounding 60% in premarket trading. Vertex says its experimental drug for cystic fibrosis improved lung function in adults in a mid-stage trial. The new drug was tested in combination with an existing one also made by the company. The advance puts the stock at its highest price since October of 2000.
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