An earnings beat and some encouraging words from Lululemon’s CEO sent shares higher today. The yoga clothing maker’s chief pledged to speed up global expansion while avoiding missteps like last year’s embarrassing recall of see-through pants. Its forecast for the current quarter came in short of estimates. Its forecast for the current quarter came in short of estimates. But investors ignored that guidance and shares rose six percent to $51.20.
Shares of GameStop plunged on weaker than expected earnings. Its forecast for the year also missed as more games are sold online and because of increased competition from big retailers offering trade-ins for used games. The chain will reduce it footprint and close about two percent of its stores. The stock tumbled four percent to $37.33.
It was a different story for Winnebago. The motor-home maker’s second quarter profit surged 53 percent as sales and deliveries rose. That topped the Street’s forecast, even though bad weather disrupted production. The stock was up 3 1/2 percent to $27.54.
Shares of Alcoa jumped after a favorable ruling from a United Kingdom high court. The ruling halted the London Metal Exchange’s plans to cut the amount of time that metal could be warehoused. That will help support aluminum prices. Shares surged to a 2 1/2 high, up six percent to $12.59.
There’s buzz that Amazon will reveal a set-top cable or broadband box next Wednesday. The online retailer invited journalists to a New York City press event for an update on the company’s video business. Despite the rumors shares were down 1 1/2 percent to $338.47.