Lululemon Surges on Earnings, RealD and Cooper Tire Slump

Tech stocks RealD and Diodes Inc. fall

   

Lululemon Surges on Earnings, RealD and Cooper Tire Slump

Here’s what’s hot in the stock market today: Technology manufacturers RealD (NYSE:RLD), Diodes Incorporated (NASDAQ:DIOD) Integra LifeSciences Holdings (NASDAQ:IART) as well as tire company Cooper Tire & Rubber (NYSE:CTB) took hits in the market today, while sport clothing company Lululemon Athletica (NASDAQ:LULU) breaks out after a stellar first quarter earnings report.

Cooper Tire & Rubber (NYSE:CTB) fell almost -8% on more than 2 times normal trading. More than 1 million shares were traded by midday. The tire manufacturer took a hit in Friday morning continuing its month long decline. Cooper has fallen -23% total since May 10. S&P maintains a neutral rating on the stock with a bearish outlook since tire demand remains high. Share price was below $20 as of this writing.

RealD (NYSE: RLD) fell more than -14% on 4 times normal trading on Friday. The 3D movie projection technology company reported solid earnings for the quarter that ended Mar. 25 on Thursday, with net revenue up 6% year-on-year to almost $59 million. The dip came when J.P. Morgan lowered its price target on the stock from $31 to $30. Shares in RealD were trading below $21. More than 4 million shares were traded by midday.

Lululemon Athletica (NASDAQ: LULU) was up more than 4% on Friday after reporting strong earnings for its quarter that ended May 1. More than 4 million shares were traded, more than 2 times the normal volume of fewer than 2 million shares. The company posted revenue of nearly $187 million, year-on-year growth of 35%. The company expects to report between $200 and $205 million in revenue for the current quarter, well above analyst expectations of around $197 million.

Diodes Incorporated (NASDAQ: DIOD) fell almost -14% on more than 2 times normal trading. The electrical component manufacturer specializing in diodes, transistors, and other parts dropped hard after issued a statement on Friday morning warning that its second quarter margins will fall short of expectations. It expects revenue between $170 and $178 million but where it was previously expecting margins to be flat with the almost 36% level it posted in the first quarter, it’s now expecting around 32%. More than 850,000 shares were traded before share price fell to around $24.

Integra LifeSciences Holdings (NASDAQ:IART) the manufacturer of medical implants and instruments, dipped just under -1% on more than 10 times normal trading. Nearly 2 million shares were traded compared to the normal volume of around 161,000. The high volume of trading came after Integra announced the pricing of $200 million in senior notes due in 2016. The company announced that buyers would have the option to purchase an additional $30 million in notes. Shares were trading above $46 by midday.

As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.


Article printed from InvestorPlace Media, http://investorplace.com/2011/06/lululemon-cooper-tire-nasdaq-lulu-reald-rld-nyse-ctb/.

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