U.S. market indexes were in the green on Wednesday morning, with stocks hitting record levels. The Dow gained 0.07% to 33,089, the S&P 500 index rose 0.72% to 3,987 and the Nasdaq Composite Index was up 1.83% to 13,283.
- Danimer Scientific Inc. (DNMR, Financial) +11.8%
- Square Inc. (SQ, Financial) +7.8%
- Dollar General Corp. (DG) +1.2%
- GAN Ltd. (GAN, Financial) +2.6%
- PepsiCo Inc. (PEP, Financial) +0.1%
- Marathon Oil Corp. (MRO, Financial) -2.4%
- Cal-Maine Foods Inc. (CALM, Financial) -2.1%
- Occidental Petroleum Corp. (OXY, Financial) -1.9%
- Ford Motor Co. (F, Financial) -1.8%
- FedEx Corp. (FDX, Financial) -0.5%
- Best Buy Co. Inc. (BBY, Financial) -0.4%
The main European stock markets traded mostly in the red. The U.K.'s FTSE 100 slid 0.86%, Germany's Dax fell 0.01%, France's CAC 40 swelled 0.34% and Spain's Ibex 35 was down 0.18%.
In Asia, Japan's Nikkei 225 fell 0.86%, India's BSE Sensex declined 1.25%, Hong Kong's Hang Seng retreated 0.70% and China's Shanghai Composite was down 0.43%.
Lululemon Athletica releases earnings report
Revenue grew 23.6% year over year to $1.73 billion, beating estimates by $70 million. It posted earnings of $2.58 per share, also topping analysts' projections by 9 cents.
Chief Financial Officer Meghan Frank had the following to say:
"We pulled forward investments in our direct-to-consumer channel, completed our first acquisition, and tightly managed expenses while also supporting ourpeople. These measures contributed to our strong fourthquarter results, including growing revenue by 24%, and are helping fuel our even stronger top-line growthprojections for 2021."
Moreover, the gross margin rose 60 basis points to 58.6%. But the adjusted operating margin decreased by 290 basis points to 26.9%.
Looking toward the first quarter, the company expects earnings in the range of 81 cents to 85 cents per share and revenue in the range of $1.1 billion to 1.13 billion.
Lululemon shares have retreated 15% since the beginning of the year versus the S&P 500's gain of 7.4%.
Disclosure: The author holds no positions in any stocks mentioned.
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