On this episode of Stock Movers:
-Lululemon (LULU) shares fell to their lowest level in eight years after the company cut its annual forecast due to deteriorating performance in North America. The company now sees revenue in a range of $11 billion to $11.15 billion for the fiscal year, below the average of estimates compiled by Bloomberg.
-Chipotle Mexican Grill (CMG) shares rise after JPMorgan upgrades to overweight from neutral citing a “rare valuation opportunity” for the stock. Analyst John Ivankoe says “the stock’s multiple has now fully re-rated to reflect a more moderate - yet still well above average - growth profile”
-Cooper (COO) shares gain after the contact-lens maker posted second quarter sales and adjusted profit that topped estimates. The company also gave updates about its ongoing strategic review that analysts found encouraging.