Results Miss, Guidance Disappoints
Men's Wearhouse reported second-quarter profit of $1.01 a share, missing the $1.14 average analyst forecast. Sales of $647.26 million also lagged the $662.4 million consensus number, and the company topped it off by lowering full-year guidance! MW tanks 15 percent before the opening bell on my tradeMONSTER platform.
Weak Outlook Sends Lululemon Lower
Lululemon athletica's results beat expectations, but the outlook going forward left something to be desired. Third-quarter revenue will be no more than $375 million and profit was forecast at $0.39 to $0.44 a share. That's a disappointment for investors expecting $389 million and $0.44, respectively. LULU falls 8 percent in early trading.
Pandora Climbs as McAndrews Steps In
Pandora media has a new CEO: Brian McAndrews, who led a company that was acquired by Microsoft for $6 billion in 2007. He later served as an executive at the software giant and has a broad background in media. P climbs 7 percent on the news.