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Under Armour stock gains after $300 million accelerated share repurchase agreement announced

33554 under armour stock gains after 300 million accelerated share repurchase agreement announced

Shares of Under Armour Inc. UAA, +3.86% UA, +4.78% rallied 0.8% in premarket trading Friday, after the athletic apparel and accessories company said it has entered into a $300 million accelerated share repurchase (ASR) agreement. The ASR was entered into with JPMorgan Chase Bank, National Association, Bank of America N.A. and Citibank N.A. The ASR is part of its stock buyback program, which now has about $200 million remaining. The stock has tumbled 31.3% over the past three months through Thursday, while the S&P 500 SPX, +2.24% has lost 8.8%.

Source: Marketwatch

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