Lululemon, Motorola Mobility: After-Hours Trading (Update 1)

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 Hospitalist

Shares 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.

The current average estimate of analysts polled by Thomson Reuters is for a profit of 54 cents in the quarter on revenue of $124.4 million.

The stock was last quoted at $38, down nearly 17%, on volume of less than 20,000, according to Nasdaq.com.

"While we added the number of providers we expected in the quarter and grew encounters and revenue, we experienced unexpected softness in patient volumes in certain practices around the country, which resulted in lower than estimated revenue," said Adam Singer, the company's co-founder, chairman and CEO. "In addition, the continued use of temporary staffing at several of our larger practices and start-up costs to open several new de novo practices negatively impacted our profitability."

The company's shares are up 12% in the past year. For the full year, IPC The Hospitalist sees earnings of $1.70 to $1.74 a share on revenue ranging from $455 million to $458 million.

Motorola Mobility

Shares of Motorola Mobility ( MMI) ticked lower in late trades after the company said it expects "modest profitability on a non-GAAP basis" in its fiscal fourth quarter on sales of $3.4 billion.

The current average estimate of analysts polled by Thomson Reuters is for earnings of 41 cents a share in the December quarter on revenue of $3.88 billion.

Motorola Mobility cited "increased competitive environment in the Mobile Device business and higher legal costs associated with ongoing Intellectual Property litigations" for the outlook.

Back in August, Motorola Mobility agreed to be acquired by Google ( GOOG) for $40 per share, or $12.5 billion, and the company said it "continues to work closely with Google to complete the proposed acquisition of Motorola Mobility as expeditiously as possible." It expects the deal will be completed in early 2012 assuming all closing conditions are met.

Shares of Motorola Mobility were last quoted at $38.20, down 0.7%, on after-hours volume of more than 250,000.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.