Under Armour (UA) Stock Split, The Fed Announces Production Increase

Under Armour

Markets were headed higher on Monday morning as manufacturing output posted the largest gains in nearly six months. The Federal Reserve announced that production was up 0.9% in February, a gain not seen since last August. This surpassed economists expectations of a 0.2% gain for the index. In January there was a 0.9% drop for the index, this happened to be the largest decline since May 2009. This adds to the mounting data, such as retail sales and employment numbers, that the economy is rebounding after a particularly harsh winter put a damper on the economy. There was a gain of 0.3% in mining production which helped to balance out the 0.2% drop in utilities output. The categories posting the largest gains were motor vehicles, gaining 4.8% after falling 5.2% in January, along with gains in machinery and fabricated metal production. Gennadiy Goldberg, an economist with TD Securities, said, “Manufacturers are becoming more optimistic about the impending rebound in economic activity, suggesting improving prospects for economic growth after weather-inspired first-quarter weakness.” Shares of Under Armour, Inc (UA) were trading up over 2.5% after the company announced that their board approved a 2-for-1 stock split. This will mark the second split…

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