Updated from 5:31 p.m ET to add information on Motorola Mobility.
NEW YORK (TheStreet) -- Shares of Lululemon Athletica (LULU) ticked lower in late trades after founder, Chip Wilson, announced plans to step away from a day-to-day role at the Canadian athletic apparel company.
Wilson is resigning as chief innovation and branding officer, effective Jan. 29. He plans to continue as the company's chairman.
The stock was last quoted at $52.60, down 2%, on late volume of more than 50,000, according to Nasdaq.com."I remain deeply committed to the Company's continued success and given the strength we've built into the organization over the past three years, I feel comfortable leaving the company with Christine Day at the helm of a world class management team whom I fully believe will continue to elevate our world. I look forward to continuing to contribute in my role as Chairman of the Board," Wilson said in a statement. Lululemon shares are up more than 50% in the past year, and Wall Street still has a bullish lean on the company with 13 of the 24 analysts covering the stock at either strong buy (6) or buy (7), and the median 12-month price target sitting at $57.50, implying potential upside of 7% from Friday's close at $53.68. The stock has a lofty forward price-to-earnings multiple of 36X the average analyst view for a profit of $1.48 in the fiscal year ending in January 2013 though vs. less than 17X for Nike (NKE), and 31.7X for Under Armour (UA). Lululemon is currently in its fiscal fourth quarter ending this month, and the average estimate of analysts polled by Thomson Reuters is for earnings of 42 cents a share in the period on revenue of $334.5 million. The company has beaten the consensus profit estimate in the past eight quarters.
IPC The HospitalistShares of IPC The Hospitalist plunged in extended action after the company lowered its financial outlook because of soft patient volumes and higher costs at certain of its physician practices. The company now sees earnings of 47 to 51 cents a share in the fourth quarter ended in December on revenue of between $115 million to $118 million. This view includes a gain of 6 cents a share.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV