Lululemon Surges on Earnings, RealD and Cooper Tire Slump

by Anthony John Agnello | June 10, 2011 12:41 pm

Here’s what’s hot in the stock market today: Technology manufacturers RealD (NYSE:RLD[1]), Diodes Incorporated (NASDAQ:DIOD[2]) Integra LifeSciences Holdings (NASDAQ:IART)[3] as well as tire company Cooper Tire & Rubber (NYSE:CTB[4]) took hits in the market today, while sport clothing company Lululemon Athletica (NASDAQ:LULU[5]) breaks out after a stellar first quarter earnings report.

Cooper Tire & Rubber (NYSE:CTB[4]) 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[1]) 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[5]) 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[2]) 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)[3] 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[6] and become a fan of InvestorPlace on Facebook.[7]

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