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Under Armour shares fall even as sales soar
Under Armour shares fall even as sales soar

Under Armour shares fell nearly 5 percent Tuesday after the company reported that sales rose 25 percent in the first quarter when the market appeared to expect more. The Baltimore-based sports apparel maker's stock fell $4.34 a share to $83.52 in New York Stock Exchange trading. "This stock trades on [revenue] growth," which had been exceeding 30 percent, wrote UBS analyst Michael Binetti in a report Tuesday. "Even though 25.5 percent revenue growth ... remains impressive, we believe the recent stock run assumed that ongoing 30 percent plus revenue growth would continue." Under Armour reported that sales rose to $805 million in the January-to-March period, up from...

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