Under Armour up while Li & Fung and LVMH plunged

While Under Armour's shares rose as much as 8 percent on

Thursday in Wall Street, Hong Kong based Li & Fung plunged 3.71 percent. Meanwhile, LVMH’s stock slid as much as 2.1 percent to 136 euros in Paris.

The Hong Kong benchmark index closed just below the 23,730-point plateau, leaving investors expecting a lower opening on Friday, reported RTT News. The Hang Seng Index has alternated between positive and negative finishes through the last four trading days since the end of the three-day losing streak in which it had declined almost 80 points or 0.4 percent.

Meanwhile, Under Armour cheered up the American markets by posting fourth quarter net revenues increased by 25 percent, same increase for the full year’s net revenues. Both fourth quarter and full year diluted EPS increased (51 percent for the former, 31 percent the latter). Company updates 2013 net revenue and operating income outlook. The company expects 2013 net revenues to grow 20 percent to 21 percent over 2012. The company’s net revenues increased 25 percent in the fourth quarter of 2012 to 506 million dollars compared with net revenues of 403 million dollars in the prior year's period. Net income increased 54 percent in the fourth quarter of 2012 to 50 million dollars compared with 33 million dollars in the prior year's period.

Finally, LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded 19 percent year-on-year hike in revenue, which totalled up to 28.1 billion euros in 2012. Organic revenue grew by 9 percent and all business groups saw excellent momentum in Europe, Asia and the United States, assured the group on Thursday. Nevertheless, LVMH Moet Hennessy Louis Vuitton SA fell in Paris trading after reporting no improvement in sales growth at its fashion and leather-goods unit and saying it’s braced for a slowdown at Louis Vuitton, its largest brand, reported Bloomberg.