The markets were strong to finish the week, popping to new all time highs yet again. Despite the weaker than expected jobs report that came out this morning traders dove back in, buying stocks across almost all sectors. The Dow 30 finished the day up 62, the S&P 500 added 9, and the Nasdaq 100 popped 58 points by the close. Next week starts with a focus on ISM Non-Manufacturing numbers but barring any major disappointment in those numbers or any political news investors seem to be pricing in higher markets.
Lululemon (LULU ) blasted off 11.55% today after the exercise clothing retail chain announced earnings. The results for the first quarter showed a beat on both its top and bottom lines with revenue up 5% thanks to "strong sales of new products." The company also commented that it plans to close 40 of its Ivivva-branded stores for young girls and shift the brand mostly online.
RR (RH ), or as most of us know it, Restoration Hardware, saw shares fall over 25% today after reporting earnings. Revenue for the first quarter came in better than analysts expected and earnings came in inline with estimates but investors were focused on the news that the company cut its profit outlook for the year. The high end furniture retailer blames the "uncertain macro environment" and some new initiatives such as moving to a membership model and launching cafes in its stores. Shares are still higher by over 35% on the year.
Broadcom (AVGO ) was also in the headlines today sending shares to new highs yet again. The chip maker gave strong guidance for the current quarter after it announced earnings and revenue that were much better than expected. Revenue was a focal point which popped 18% from a year ago. Shares are now higher by over 40% on the year and technical traders note the strong, and consistent uptrend.