Shares of Lululemon Athletica Inc. (NASDAQ: LULU)
have risen sharply in trading today after the company raised its guidance for
the fourth quarter of fiscal 2011. The company’s improved outlook for the
fourth quarter reflects stronger than expected net revenue for the quarter.
Lululemon Athletica shares rose to an intra-day high
of $62.25 in trading today. At last check, the stock was up more than 12% on
above average volume. The rally has pushed Lululemon Athletica shares above
their 50-day and 200-day moving averages.
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