Midday Movers: Lululemon Athletica, Broadcom, Costco and more
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By Liz Moyer
Investing.com -- Stocks were mixed on Friday after stronger-than-expected data on producer prices fanned the flames of recession fears. Here are the midday movers for Dec. 9.
Lululemon Athletica Inc (NASDAQ: LULU) stock fell 12% after beating expectations for the most recent quarter. The athleisure apparel maker forecast fourth-quarter EPS of $4.20 to $4.30 a share, slightly below the $4.30 forecast by analysts.
Broadcom Inc (NASDAQ: AVGO) stock rose 3.4% after the chip maker gave an optimistic forecast for revenue and boosted its dividend. After beating expectations for the most recent quarter, it said it would resume stock buybacks.
Costco Wholesale Corp (NASDAQ: COST) stock rose 1.5% after the warehouse retailer reported adjusted earnings that fell below expectations on an 8% gain in revenue. Same-store sales gained 6.6%, which was better than November.
Bath&Body Works Inc. (NYSE: BBWI) stock rose 1.4% after Dan Loeb's Third Point reported a 6% stake and said it might push for governance changes, including changes to board composition and other issues before the next shareholder meeting.
DocuSign Inc (NASDAQ: DOCU) shares rose 16.3% after the e-signature platform beat expectations and said books and subscription renewals were stronger than expected.
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