Lululemon Athletica Inc. (LULU) dropped $5.80 to $58.25 in early morning trading on Thursday after it reported Q215 earnings.
The apparel retailer handed in earnings of $0.34 per share on revenue of $453 million, beating Wall Street estimates of $0.33 per share on revenue of $445.84 million.
For Q3/15, LULU provided EPS guidance of $0.35 – $0.37 versus consensus of $0.43 per share. The company also issued revenue projection of $477 – $482 million, compared to the consensus revenue estimate of $478.38 million. Lululemon said it expects full-year EPS to be $1.87 – $1.92, with revenue ranging from $2.03 – $2.06 billion.
LULU currently prints a one year return of about 66% and a year-to-date return of 14.81%.
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Envivio, Inc. (ENVI) shares surged more than 114% after the company said it has agreed to be bought by Ericsson (ERIC) for $4.10 per share in a cash transaction valued at approximately $125 million. The price offers a premium of about 115% over Envivio’s Wednesday closing price of $1.90 a share.
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Shares of Apple Inc. (AAPL) are up slightly this morning despite unveiling a slew of new products on Wednesday. Separately, Appaloosa’s David Tepper just said in a CNBC interview that Apple will always have a lower multiple because it is a device company. Tepper, who does not have a huge position on the name, also noted the stock is cheap and that it does have China exposure. Tepper by the way also said he sold his Alibaba (BABA) position.
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Phillips 66 (PSX) — Warren Buffett’s Berkshire Hathaway (BRK.A), (BRK.B) disclosed that it has purchased another 3.5 million shares in the refining company, bringing its total stake in Phillips to 11.4%.
Buffett’s stake in the Houston, Texas-based energy manufacturing and logistics company is now worth $4.98 billion.
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