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Midday Report: Lululemon Sinks on Ratings Cut; Stocks Slip

Stocks were slightly lower in choppy trading.

Stocks were slightly lower in choppy trading. Retailers including Walmart (WMT) and Macy's (M) were among the worst performers on forecasts fewer shoppers would participate in Cyber Monday this year. Lululemon (LULU) tumbled after shares were downgraded to 'market perform' from 'outperform' at FBR Capital Markets. Analysts lowered their expectations for the athleisure retailer as higher clearance levels pressure margins. Pending home sales also came in weaker than expected, rising just 0.2% in October after two months of declines. Weakness in the housing market has been tied to high prices and lower inventory that has kept home buyers at bay.

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