UAA - Why Shares of Under Armour Are Climbing Today
Shares of Under Armour (NYSE: UA) (NYSE: UAA) were rising today following a positive jobs report last week, indicating that the U.S. economy could slowly be coming back to life -- and consumer spending along with it. Under Armour's stock had climbed as high as 7.2% in the morning.
The company's shares were up 3.3% as of 11:13 a.m. EDT.
Under Armour investors appeared at least slightly optimistic on Monday morning that some parts of the U.S. economy were moving in the right direction. They were responding to Friday's surprising Labor Department report, which showed that the unemployment rate fell in May to 13.3%, down from 14.7% in April. It also said that the U.S. added 2.5 million jobs during the month.