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Stocks Climb as Apple Shares Rebound

In corporate news, Broadcom (BRCM) lifted its outlook for fourth-quarter revenue on Wednesday to a range of $2 billion to $2.1 billion, from its previous range of $1.95 billion to $2.1 billion.

The chipmaker cited better-than-expected results in its wireless division. Shares rose 3.2%.

Smithfield Foods (SFD), a meat producer, posted fiscal second-quarter adjusted earnings of 61 cents a share on revenue of $3.23 billion, compared with the average analyst estimate of 44 cents a share on revenue of $3.3 billion.

Sales fell short as higher volumes in all segments were more than offset by lower meat and live hog prices. Shares added 0.35%.

Lululemon Athletica (LULU), the athletic apparel maker, predicted a big slowdown in same-store sales growth, estimating a high single-digits increase in the current quarter, compared with growth of 26% the same quarter last year.

The company posted Thursday third-quarter profit of 39 cents a share on revenue of $316.5 million versus the consensus forecast of profit of 37 cents a share on revenue of $305.1 million. Shares increased 7.2%.

Walter Energy (WLT) shares tacked on 5.3% after reports said that BHP Billiton (BHP) is considering an all-cash bid for the U.S. coal producer.

Epoch Holding ( EPHC) shares soared 26% after the investment manager said it has agreed to be bought by TD Bank for about $668 million in cash.

Zynga ( ZNGA) shares jumped 7.8% as the online game company filed paperwork with the Nevada Gaming Control Board as it tries to enter the "real-money" gambling market.

-- Written by Andrea Tse and Joe Deaux in New York.

>To contact the writer of this article, click here: Andrea Tse.

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ZNGA $2.36 -0.63%
AAPL $93.66 -0.09%
FB $118.58 0.85%
GOOG $698.30 0.76%
TSLA $241.82 0.44%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

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