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Byline: Jonah Keri
K-Swiss burst out of its five-month base early Monday, climbing as high as 27.75. But the stock reversed somewhat, closing below its pivot point of 27.23, or 0.10 above the top of its handle.
The maker of athletic shoes and apparel saw sales and profit growth slow last quarter vs. the previous quarter. Sales rose 20% year over year, down from 34% growth the previous quarter. Earnings climbed just 5% vs. 50% a quarter earlier. Annual sales growth has been erratic, fluctuating from a 77% gain to a 21% decline in the last five years.
Institutional sponsorship has swelled to 90 mutual funds ...