Lululemon (LULU): Shares rallied after the retailer beat on the top and bottom lines and boosted its full-year guidance. Lululemon reported revenue of $1.9 billion, up 29% from a year ago, on adjusted earnings of $2.20 per share. Full-year guidance was raised to a range of $7.87 billion to $7.94 billion, up from the previous range of $7.61 billion to $7.71 billion. Inventory during the quarter jumped to $1.46 billion, up 15%quarter-over-quarter and up 85% from a year ago.
“The momentum in our business continued in the second quarter,” lululemon CEO Calvin McDonald said, “fueled by strong guest response to our product innovations, community activations, and omni experience.” Shares rose as much as 9% in after hours trade.
Broadcom (AVGO): Shares rose 2% after Broadcom raised its fourth quarter revenue outlook to $8.9 billion, above the street’s estimate for $8.7 billion. Second quarter revenue totaled $8.46 billion, driven by a 32% year-over-year jump in chip sales.
Broadcom CEO and…