Shares of Under Armour Inc. spiked 5.7 percent following the firm’s 54 percent jump in fourth-quarter profits and the double-digit percent growth forecast in both net revenues and operating income for 2013.
For the three months ended Dec. 31, net income rose to $50.1 million, or 47 cents a diluted share, from $32.6 million, or 31 cents, in the year-ago quarter. Net revenues rose 25.5 percent to $505.9 million from $403.1 million.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"