Lululemon (LULU) reported adjusted quarterly profit of 75 cents per share, five cents above estimates, while revenue also beat Street forecasts. The athletic apparel maker saw comparable store sales jump 18 percent compared to a consensus estimate of 13.8 percent, but the company also issued slightly weaker than expected guidance.
Broadcom (AVGO) earned an adjusted $5.58 per share for its latest quarter, coming in above the consensus estimate of $5.58. The chip maker’s revenue also came in above forecasts, and Broadcom also gave strong 2019 revenue guidance. Additionally, the company announced a 51 percent dividend increase to $2.65 per share and added $6 billion to its stock buyback program.
Ulta Beauty (ULTA) matched estimates with adjusted quarterly profit of $2.16 per share. Revenue also matched estimates with comparable store sales up 7.8 percent. However, the cosmetics retailer also issued lower than expected current quarter earnings guidance.
American Outdoor Brands (AOBC) beat estimates by six cents with adjusted quarterly profit of 20 cents per share, while the Smith & Wesson parent also saw revenue come in above Street forecasts. The company also increased its full year guidance.
IBM (IBM) struck a deal to sell some software assets to India-based software company HCL Technologies for $1.8 billion. The sale is part of IBM’s ongoing effort to de-emphasize its legacy businesses.
Zumiez (ZUMZ) reported quarterly earnings of 55 cents per share, six cents above estimates, with revenue for the action sports apparel company essentially in line with forecasts. However, the company’s current quarter guidance is below analyst forecasts.
Fresenius (FMS) shares are under pressure after the German health care company issued a profit warning for 2019 and retracted its previously issued targets for 2020. Fresenius said it planned to invest more money in its hospitals and other businesses.
Fiat Chrysler (FCAU) plans to add Jeep production at a currently out-of-service Detroit plant in 2020, according to a Reuters report.
Chevron (CVX) will spend $20 billion on capital projects in 2020, which would amount to the energy giant’s first year-over-year capital spending increase in four years.