Why Amer Sports Stock Scored Today

Many investors may not know the name Amer Sports (NYSE: AS), but they likely know the company's famous brands. Amer Sports owns iconic sports and outdoor brands including Wilson tennis rackets and footballs, Atomic and Salomon ski equipment, and Louisville Slugger baseball bats.The company may become more of a household name if it keeps up the performance it announced in the second-quarter report it released today. Strong financial performance led the company to update is full-year 2024 guidance, and investors pushed the stock higher by as much as 15.5% in response. As of 2:10 p.m. ET, the stock was still up by 9.9%. Amer Sports shares have now gained about 24% in just the past month.Investors may have been anticipating a good quarter, leading to the recent rally in Amer Sports shares. The company didn't disappoint as it updated 2024 full-year guidance for the second time this year. Momentum in the business is being driven by its technical apparel brands. Revenue in that segment surged by 45% in 2023. It is on track to overtake the outdoor performance segment as the largest in the company in 2024.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool