Lululemon Athletica ( LULU) saw a 34% rise in fourth-quarter profit to $73.52 million, or 51 cents a share, on revenue of $371.52 million, up 29% from a year earlier. Analysts polled by Thomson Reuters were looking for profit of 49 cents a share on revenue of $362.42 million. The athletic retailer's revenue projection for the fiscal first quarter was $265 million to $270 million, ahead of estimates of $257.46 million. Shares were down almost 2% at $72.60 in premarket trading.
Dollar General ( DG) said earnings rose 31% in the fiscal fourth quarter. Profit came in at $292.5 million, or 85 cents a share, ahead of analysts' estimates of 82 cents. Revenue of $4.19 billion was slightly higher than the forecast of $4.11 billion. The company said it expects earnings of $2.65 to $2.75 a share for the year, in line with Wall Street's forecast for $2.71 a share. Shares were trading up 1.2% at $45.30.
McDonald's ( MCD) CEO Jim Skinner will step down on June 30 and hand the reigns of the world's largest hamburger chain to President Donald Thompson. Skinner has been CEO since 2004. Thompson, 48 years old, has long been considered among the top candidates in line to succeed Skinner. He has been with McDonald's for 22 years. He will be the first African American to head McDonald's. Shares were down 0.5% to $96.20.
Nike ( NKE) will report third-quarter earnings after the close Thursday. Analysts are looking for earnings of $1.41 a share, up 7.4% from a year earlier. Sales are expected at $6.59 billion, up from $5.6 billion in the period a year earlier. Shares were down 0.2% to $110.22.
Watson Pharmaceuticals ( WPI) on Wednesday was reportedly close to buying its drug maker competitor Actavis in a deal worth €4.5 billion. According to the Wall Street Journal , which cited people familiar with the matter, the U.S. generic drug maker is the only company trying to buy the Swiss company. A transaction may happen after Easter, said the report. Actavis ranks No. 4 in sales of generic drugw around the world and would help Watson expand its footprint in Europe. Shares of Watson were edging lower at 0.1% to $63.65 in premarket trading.
Discover Financial Services ( DFS), the credit card company, topped analysts' first-quarter earnings expectations. Discover reported net income of $631 million, or $1.18 a share, for the three months ended in February; analysts were expecting a profit of 94 cents a share. Revenue came in at $1.84 billion, slightly above analysts' estimates of $1.82 billion. Shares were down 1.1% to $31.30. -- Written by Joseph Woelfel and Chao Deng >To contact the writer of this article, click here: Joseph Woelfel Related links:
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