Diamonds and Dogs
Trex (TREX) is roaring today. The world's number-one brand of decking and railing and leader in high-performance, low-maintenance outdoor living products is up 23% to a new all-time high following better than expected earnings. The company beat estimates by 13 cents as revenues rose 32% year/year to $140.19 million. Trex continues to successfully gain market share from the traditional wood market and reinforce their leadership position in the outdoor living category. I guess consumers are upgrading their outdoor space.
Under Armour (UA) taking a hit. The sports apparel company is down 15% to a four year low following disappointing sales numbers and lowered guidance indicating the company may lose money this year. Sales fell 4.5% year over year as margins declined and inventory ballooned. The biggest problem area for Under Armour right now is its most important region: North America. Revenue in North America fell 12% to $1.07 billion as consumers want their product, but only at a discount.