HomeFinancial MarketsLululemon, Broadcom, Starbucks Among Winners Ahead of Friday Trading

Lululemon, Broadcom, Starbucks Among Winners Ahead of Friday Trading

Lululemon stocks soared ahead of regular trading on Friday, following the retailer’s better-than-expected full-year financial performance. The company reported quarterly revenue of $1.9 billion; a 29% rise from the previous year on adjusted earnings of $2.20 per share. This boosted the company’s full-year outlook to a revenue range of $7.87 billion to $7.94 billion, up from the previous $7.61 billion to $7.71 billion.

“The momentum in our business continued in the second quarter, fueled by strong guest response to our product innovations, community activations, and omni experience,” CEO Calvin McDonald commented. Lululemon’s shares rose by 9% during after-hours trade.

Semiconductor manufacturer Broadcom also came out on top during pre-trading, gaining 2%. This came after the company raised its fourth-quarter outlook from $8.7 billion to $8.9 billion. According to CEO and President Hock Tan, this rise comes courtesy of an unwavering demand for broadband, data centers, and wireless technologies.

Starbucks rounds out the top performers ahead of Friday, with its shares gaining 0.4%. This comes after the company announced the appointment of Laxman Narasimhan as its next CEO, set to replace interim chief executive Howard Schultz.

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