The markets were higher today as tech stocks made a more significant attempt at a recovery rally. The Dow 30 was higher by 70, the S&P 500 gained 7 and the Nasdaq 100 popped 36 on the day. Tomorrow is full of potentially market moving news with the unemployment rate and consumer sentiment taking the center stage.
Lululemon (NASDAQ: LULU) shares enjoyed another strong day today as shares gained 6.04% after the yoga apparel retailer beat the streets expectations on earnings. The company also announced that it would be raising its full year forecasts after the beat. Same store sales growth came in at 7% which further fueled the move today. Despite struggling in the first half of the year, shares are now positive for 2017 by around 10%.
Broadcom (NASDAQ: AVGO) shares traded wildly today, closing higher by 1.17% after the chip maker beat on earnings, thanks to sales of smartphone parts, and increased its dividend. Broadcom has been front and center in the news lately as the company is trying to convince shareholders that its $100 billion takeover of rival Qualcomm (NASDAQ: QCOM) is the right direction to go.
Yelp (NASDAQ: YELP) shares added another 1.40% to its string of losing days after another downgrade came from Piper Jaffray to Underweight. Analysts commented that "traffic and user acquisition may become more difficult as Facebook (NYSE: FB) and Google (NASDAQ: GOOGL) route users to their own offerings." Shares are lower by 16% since hitting a high just 9 trading days ago.
Dollar General (NYSE: DG) shares popped 2.03% today after reporting same-store sale growth of 4.3%, well above forecasts. Analysts also noted gross margins were much better than predictions. The retail chain has added 25% on the year so far but technical traders note the over extension in the short term which may lead to lower prices for now.