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Market Update

Ciena, Lululemon, Lowe's,Yum Brands Climb


Author: Mukesh Buch
ticker.com
Last Update: 12:23 PM ET December 11 2014

12:05 PM New York Ciena net loss widened after revenues barely rose 1%. Danaher reaffirmed fiscal outlook. Lululemon revenues rose 9% but net dropped by the same amount. Lowe''s jumped on positive outlook. Methode Electronics net surged 31%. Yum! Brand profit guidance.

Tollbooth Index jumped 1.6% or 161.19 to 9,996.14.

Earnings Review

Ciena Corporation (CIEN) surged 9.6% or $1.64 to $18.59 after the communications networking equipment provider reported revenues in the fourth-quarter ending in October increased 1.3% to $591 million from a year ago period.

Net loss in the quarter widened to $30.7 million or 29 cents a diluted share compared to $9.80 million or 9 cents from a same quarter last year.

Danaher Corporation (DHR) gained 1.8% or $1.46 to $84.60 after the medical, industrial and commercial products maker forecasted diluted net earnings per share in the forth-quarter between $1 and $1.04

The company forecasted adjusted diluted net earnings per share for the fiscal 2015 in the range between $4.35 and $4.45.

Lululemon Athletica inc (LULU) surged 8.6% or $4.14 to $50.84 after the sports and yoga apparel and accessory maker reported net revenues in the third-quarter ending on November 2 climbed 10% to $419.4 million from a year ago period. Comparable store sales for the quarter increased 3%.

Net income in the quarter dropped 8.5% to $60.5 million or 42 cents a diluted share compared to $66.1 million or 45 cents from a same quarter last year.

For the fourth quarter, the company expected net revenue in the range of $570 million to $585 million and diluted earnings per share to be between 64 cents and 69 cents.

Lowe''s Companies, Inc (LOW) jumped 2.4% or $158 to $66.73 after the home improvement retailer estimated total sales for the year to climb between 4.5% and 5% and comparable sales to jump between 3.5% and 4%.

Methode Electronics Inc (MEI) declined 4.8% or $1.99 to $39.61 after the networking equipment maker said net sales in the second-quarter ending on November 1 soared 20.3% to $229.7 million from a year ago period.

Net income in the quarter surged 31.3% to $26 million or 66 cents a diluted share compared to $19.8 million or 51 cents from a same quarter last year.

Yum! Brands, Inc (YUM) climbed 2.8% or $1.99 to $72.53 after the fast food restaurant operator forecasted earnings per share growth for the year in mid-single-digit compared to its prior forecast of between 6% and 10%.

For the fiscal 2015, the company expected earnings per share growth of about 10%.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc