Under Armour Inc. stock rose 2.8% in Tuesday premarket trading after the athletic company reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled $77.8 million, or 17 cents per share, after a loss of $589.7 million, or $1.30 per share, last year. Adjusted EPS of 16 cents beat the FactSet consensus for 4 cents. Revenue of $1.257 billion was up from $930.2 million and also ahead of the FactSet consensus for $1.131 billion. Under Armour now expects full-year 2021 revenue to be up at a high-teen percentage rate compared to previous guidance for a rise in the high-single-digit percentage rate. Full-year 2021 EPS is expected to be 2 cents to 4 cents, compared with previous guidance for a loss of 18 cents to 20 cents. And adjusted EPS is expected to be 28 cents to 30 cents versus previous guidance for 12 cents to 14 cents. The FactSet consensus is for revenue of $4.941 billion, suggesting a rise of 10.4% and EPS of 21 cents. Under Armour announced Monday that it has agreed to pay $9 million to settle an SEC charge that it misled investors. Under Armour neither admitted or denied the charge. Under Armour stock has gained 40.8% for the year to date while the S&P 500 index is up 11.6% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.