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As the trading day comes to a close, Yahoo Finance Live breaks down the top tickers of the day, including Lululemon, SentinelOne, and AI stocks such as Nvidia and C3.ai.
Stocks rose on Friday as better than expected May jobs report reiterated strength in the US labor market.
Lululemon posted better than expected quarterly results amid sales growth in China and lower air freight costs
Lululemon's first quarter results were better than analysts were expecting, thanks in part to strong sales in China. Brian Jacobsen of Annex Wealth Management and Max Kettner of HSBC discuss the impact of China's reopening on the global economy.
Friday's thee stories to watch: The May jobs report was surprising, with both payrolls and the unemployment rate coming in higher than expected. The bill to raise the debt ceiling goes to President Biden's desk, ending the weekslong saga over whether the U.S. would default. Lululemon shares are set to open higher after its first quarter results topped analyst estimates.
Shares of Lululemon Athletica Inc soared 15% in early trade on Friday, after the premium apparel retailer defied investor worries with a full-year outlook lift amid little pullback from consumers and a sharp rebound in China sales. The rosy outlook comes in contrast to the general trend of U.S. retailers ranging from Macy's to Dollar General warning of weak discretionary spending by American consumers. At least 11 brokerages raised price targets on the company, with Piper Sandler hiking by the highest margin to $445, above the median of $424.
The latest investor updates on stocks that are trending on Friday.
Investing.com -- Stocks in focus in premarket trade on Friday, June 2nd. Please refresh for updates.
Investing.com -- Lululemon Athletica (NASDAQ:LULU) reported fiscal first-quarter results that beat analysts' forecasts as lower transportation costs and growth in China bolstered results.
Joining me today to talk about our results are Calvin McDonald, CEO; and Meghan Frank, CFO. Before we get started, I'd like to take this opportunity to remind you that our remarks today will include forward-looking statements reflecting management's current forecast of certain aspects of lululemon's future. Actual results may differ materially from those contained in or implied by these forward-looking statements due to risks and uncertainties associated with our business, including those we have disclosed in our most recent filings with the SEC, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. Any forward-looking statements that we make on this call are based on assumptions as of today, and we expressly disclaim any obligation or undertaking to update or revise any of these statements as a result of new information or future events.
The athletic-wear company continues to shine in an environment where many apparel makers and retailers are struggling.
Stock markets got a nice lift on the first day of June, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) in particular continued its run higher to close at its highest level in nearly a year. The S&P 500 (SNPINDEX: ^GSPC) and Dow Jones Industrial Average (DJINDICES: ^DJI) also posted solid gains. Earnings reports kept coming in after the market had closed for the day, with some companies getting a boost, while others plunged.
The headline numbers for Lululemon (LULU) give insight into how the company performed in the quarter ended April 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Lululemon (LULU) delivered earnings and revenue surprises of 15.74% and 3.96%, respectively, for the quarter ended April 2023. Do the numbers hold clues to what lies ahead for the stock?
Among the top stories from Thursday: Lululemon's first quarter results topped analyst estimates, sending shares soaring after-hours. Meanwhile, Meta has unveiled its latest VR headset. The Quest 3 will be available this fall and will cost $499. Finally, some dating app users are doing something different to attract dates: posting their credit scores. The Yahoo Finance Live team debates whether or not it's a good idea.
Lululemon, Five Below, and Broadcom are all moving in after-hours trading. Yahoo Finance Live's Seana Smith breaks down the action.
Lululemon Athletica Inc raised its annual sales and profit forecasts on Thursday as wealthy Americans snap up its pricey activewear even though inflation hounds wider retail spending, sending the company's shares up 13% after hours. A strong rebound in China, easing air freight costs and tighter inventory control also helped first-quarter results surpass estimates at the Vancouver, Canada-based company.
VANCOUVER, British Columbia, June 01, 2023--lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the first quarter of fiscal 2023.
Investing.com - U.S. stock futures were trading slightly higher during Thursday's evening deals, after major benchmark averages closed out a positive session as market participants looked ahead to key employment data.
lululemon's (LULU) Q1 results are expected to reflect gains from continued business momentum, backed by improved traffic trends and digital growth.
Lululemon (LULU) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
VANCOUVER, British Columbia, May 23, 2023--At a gathering at its headquarters in Vancouver, lululemon (NASDAQ:LULU) today announced a new initiative – FURTHER – that celebrates human possibility and demonstrates how far women can go when they’re supported with resources and product innovations typically reserved for men. The initiative will culminate in a multi-day ultramarathon that begins on International Women’s Day, March 8, 2024.
lululemon (LULU) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Lululemon (LULU) closed at $363.12 in the latest trading session, marking a -1.47% move from the prior day.
There's no question that Lululemon Athletica (NASDAQ: LULU) has been a fantastic investment to own over the years. While many companies continue to struggle with the uncertain economic environment, particularly as it relates to high inflation, rising interest rates, and the threat of a recession, Lululemon's business has benefited from strong momentum.