Lululemon Athletica Inc
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The yoga apparel company took to its own homepage on Friday to find its next leader, replacing its usual images of super-fit athletes with a large help-wanted ad.
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Just ahead of the Lululemon's CEO Day announced her resignation, Lululemon Chairman Dennis Wilson sold stock worth about $50 million, reports CNBC's Josh Lipton.
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Clearwire Corp. rose 1.8 percent to $4.45 with 18,514,400 shares traded. Facebook Inc. fell 1.6 percent to $23.40 with 16,628,600 shares traded. First Solar Inc. fell. 6 percent to $46.37 with 11,177,800 shares traded.
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Lululemon Athletica's Chairman Dennis "Chip" Wilson sold stock worth $50 million days before shares slumped on the news of Chief Executive Christine Day's surprise departure.
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Lululemon Athletica Inc.' s shares sank again Wednesday following the unexpected announcement that the yoga clothing company's CEO is stepping down. THE SPARK: Lululemon said late Monday that Christine Day will leave the company as soon as it finds a successor.
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Applied Materials Inc. rose 1.6 percent to $15.44 with 14,964,200 shares traded. Cisco Systems Inc. rose. 4 percent to $24.18 with 15,351,100 shares traded. Dell Inc. was unchanged at $13.37 with 9,796,000 shares traded.
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Stocks finished sharply lower in volatile trading Tuesday after briefly wiping out most of their losses, with all key S&P sectors closing in the red, as the Bank of Japan's latest monetary policy decision disappointed investors.
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With dynamics changing at this company Cramer said, "if the stock bounces, I'm a seller."
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The sudden departure of Lululemon Athletica's CEO left analysts scratching their heads on Tuesday and prompted a wave of price target cuts and downgrades of the company's stock.
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*Dole Food jumps after CEO proposes buyout. NEW YORK, June 11- U.S. stocks fell in a volatile session on Tuesday after Japan's central bank disappointed equity markets by holding steady its monetary policy.
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The "Fast Money" traders share their final trades of the day.
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TORONTO, June 11- Shares of Lululemon Athletica Inc plunged on Tuesday on worries that it will not be easy for the high-end yogawear maker and retailer to replace outgoing Chief Executive Christine Day, the company's very public face. The shares dropped about 17 percent to C $69.68 on the Toronto Stock Exchange and $68.52 on Nasdaq.
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GenMark Diagnostics Inc. fell 24.5 percent to $11.42. Lululemon Athletica fell 16.4 percent to $68.76. Global Technologies Appliances Inc. fell 10.3 percent to $8.18.
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Cisco Systems Inc. fell. 1 percent to $24.33 with 14,955,800 shares traded. Exide Technologies rose 47.7 percent to$. 29 with 12,460,000 shares traded. Facebook Inc. fell. 5 percent to $24.21 with 18,742,200 shares traded.
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Lululemon Athletica Inc.' s shares plunged Tuesday after the yoga clothing company announced the planned departure of its CEO, who is widely credited for helping build the brand's popularity.
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*Early sell-off provides buying opportunities. NEW YORK, June 11- U.S. stocks fell on Tuesday following the Bank of Japan's decision to hold monetary policy steady, but indexes were well off lows as investors took earlier dips in the market as a buying opportunity.
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Few companies practice accountability the way Lululemon does. Contrast how it dealt with a product recall with Bloomberg News' handling of a recent controversy.
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*BOJ keeps policy steady, disappointing investors. *SoftBank raises offer for Sprint Nextel. NEW YORK, June 11- U.S. stocks fell on Tuesday after the Bank of Japan chose not to take stimulus measures and increased investors' worries about the eventual decline in central bank support that has supported equities' rally.
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The announcement that Lululemon's CEO, Christine Day, will step down was a bad decision, Cramer said, and investors should sell the stock, even after a drop in share price.
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Shares of the specialty apparel company take a hit after it's announced the leader is leaving. Sam Poser, Sterne Agee, and Camilo Lyon, Canacord Genuity, have the play on the stock now.
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Following the announcement that Lululemon’s CEO Christine Day is stepping down after a product recall controversy over overly sheer pants, Cramer was perplexed by the decision and said “the timing could not have been worse” to bring in a replacement.
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No reason has been given yet for the departure of founder and executive chairman George Zimmer, reports CNBC's Courtney Reagan. Zimmer has long been the face of the company.
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