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UnderArmour-Q2

US markets rally; Robinhood soared 20%; Under Armour surged on Q2 result

  • The Nasdaq closed 0.6% higher at 14,761 on Tuesday.
  • Robinhood soared 20% on Ark Innovation disclosing shareholding.
  • Under Armour surged 7.5% on strong quarterly earnings results.

The US markets shook off early losses to close higher on Tuesday as investors responded to a strong quarterly earnings season.
The Dow Jones rose 0.80% to finish the trading day up 278 points to close at 35,116 points.

The tech heavy NASDAQ rose 0.6% to finish the trading day up 80 points to close at 14,761 points with Apple and Amazon gaining 1.26% and 1.04% respectively.

One bitcoin is worth US$37,970 going into the Asian trading day.

The Australian dollar is firm against the major currencies and is buying 73.96 US cents.

Recent debutant on Wall St, Robinhood soared 20% on Tuesday to a record high share price above its IPO, after Ark Innovation disclosed a stake of nearly 5 million shares in the company, with the stake comprising 0.82% of Ark’s overall ETF.

Shares in athletic retailer Under Armour surged more than 7.5% following the release of strong second quarter earnings results with the company saying its performance was boosted by strong sales of its golf, running and training products. For the period, Under Armour topped analyst expectations for sales and revenues increased 91% from the same period a year earlier, to US$1.35bn.

And Whatsapp has launched a new ‘view once’ photo and video feature in a move that copies Snapchat’s disappearing images.

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