News Summary

Shares of FedEx Corp FDX gained about 5.2% after the company reported its FQ3 earnings at $231 million, or $0.73 per share, compared with $239 million, or $0.76 per share, in the year-earlier period. The company's revenue increased 11% to $9.66 billion. The company's adjusted earnings came in at $0.81 per share. However, analysts were expecting earnings of $0.83 per share. FedEx projects Q4 earnings of $1.66 to $1.83 per share, versus analysts' estimates of $1.66 per share. FDX lowered its full-year earnings guidance to a range of $4.83 to $5 per share, from $5 to $5.30 per share, versus analysts' estimates of $4.89 per share.

Shares of Lulemon Athletica Inc LULU fell about 3% after the company reported its Q4 net income at $54.8 million, or $0.76 per share, versus $28.5 million, or $0.40 per share, in the year-earlier period. Excluding one-time items, the company's earnings came in at $0.64 per share. LULU's revenue increased 53% to $245.4 million. However, analysts were expecting earnings of $0.56 per share on revenue of $237.4 million. LULU's same-store sales rose by 28%.

Shares of Sanmina-SCI Corp SANM dropped about 16% after the company projects to report FQ2 earnings and revenue below analysts' expectations. The company also announced the resignation of its President and Chief Operating Officer Hari Pillai. SANM projects Q2 adjusted profit of $0.28 to $0.32 per share on revenue of $1.56 billion to $1.6 billion. However, analysts estimated earnings of $0.41 per share on revenue of $1.65 billion.

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