[naviga:h3]Coke rides on sales of healthier drinks[/naviga:h3]

ATLANTA — Strong sales of “premium” water and sugar-free sodas powered third-quarter earnings for Coca-Cola Co.

Coke President and CEO James Quincey said enhanced waters like the smartwater, vitaminwater and Topo Chico brands helped turn around a slump in water sales.

Sales of water and sports drinks jumped 5 percent in the July-September period, with particularly strong growth in China and Mexico. Coke says it will launch smartwater in 20 markets by the end of this year, bringing it to a total of 32 countries.

Global sales of sparkling soft drinks grew 2 percent, led by low-calorie and no-calorie versions of Sprite and Fanta. Coca-Cola Zero Sugar diet soda had its best quarter in 10 years.

Coke said sales of juice, dairy and plant-based drinks dropped 3 percent due to declining sales in the Middle East and Africa.

[naviga:h3]Under Armour sees stock price surge[/naviga:h3]

BALTIMORE — Shares of Under Armour shot up more than 25 percent in midday trading Tuesday, suggesting investors think the company may be turning things around after a rough three years.

The athletic apparel company, which just a few years ago was seen as a potential rival to industry leader Nike, reported third-quarter net income of $75.3 million, better than expected and easily surpassing the $54.2 million for the same quarter last year.

The Baltimore company began streamlining last year after explosive sales growth petered out as consumers shifted some of their dollars toward active brands like Lululemon.