Early Movers: LEN, FRX, LULU & More
Check out which companies are making headlines before the bell on Tuesday:
Lennar - The home builder reported fourth-quarter profit of $0.56 per share, $0.12 above estimates, with revenues also topping consensus. Lennar said both home deliveries and new orders were up 32 percent above the year-earlier period, and that it expects strong profitability for fiscal 2013.
Forest Laboratories - The drugmaker reported a quarterly loss of $0.21 per share, excluding certain items, larger than the $0.14 loss analysts were anticipating. Revenue also came in below consensus, as the company continued to be impacted by the expiration of patent exclusivity for depression treatment Lexapro. Forest said it expects its new products to fill that gap.
Lululemon - The athletic apparel retailer lowers guidance for the current quarter, which spans the holiday shopping season. It now sees fourth-quarter revenue at $475 million to $480 million, compared with consensus estimates of $489 million. Analysts said the chain is still executing very well, but that expectations on the Street have become extremely high.
Denny's - The restaurant chain is launching its own coffee blends and specialty drinks, following two years of testing. Denny's said it currently sells about 87 million cups of coffee a year, but sees an opportunity to increase that number and helping to boost overall sales.
FedEx - The delivery service has named Henry Maier as the new chief executive officer of its FedEx Ground unit, replacing the retiring David Rebholz as of May 31. Maier is currently executive vice president of that unit.
Express - Express has raised its fourth-quarter earnings guidance to $0.72 to $0.74 per share, up from the prior $0.62 to $0.68 a share, and well above consensus estimates of $0.66 a share. The retailer of clothing for young adults said holiday season sales were better than it had previously expected.
RadioShack - The electronics chain is ending its mobile phone partnership with retailer Target. The venture has been unprofitable, and RadioShack is pulling the plug after it was unable to negotiate more favorable terms.
Boeing - The company and its engineers will resume contract talks tomorrow, after the company delivered its latest offer to the union Monday afternoon.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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