Stocks to Watch: FDX, LULU, PCLN & More

Take a look at some of Thursday morning’s early movers:


FedEx – The package delivery company earned $1.55 per share for its third quarter, excluding certain items, 20 cents above estimates, with revenues essentially in line. FedEx says its bottom line was driven by strong holiday season deliveries, improving yields, and an “exceptional” performance at its FedEx Ground unit.

ConAgra – The food producer earned 51 cents a share for its fiscal third quarter, two cents above estimates, with revenues in line with consensus. ConAgra says sales were stronger and its results were also helped by pricing actions to deal with input cost inflation. - A Piper Jaffray report says the travel company’s shares could hit $1,000 in two years, because of the rapid shift in travel bookings from offline to online.

Lululemon - The apparel seller earned 51 cents a share for the fourth quarter, two cents above estimates. Sales also beat consensus and Lululemon’s same store sales rose 26 percent from the year before, calculated on a constant dollar basis. However, the company gave fiscal-year earnings per share guidance of $1.50 to $1.57 per share, below current analyst estimates of $1.61.

Dollar General - The discount retailer earned 87 cents a share for the fourth quarter, five cents above estimates, with revenues also above consensus. The company is crediting investments it’s made over the past four years as a key factor in its earnings growth.

McDonald’s - CEO Jim Skinner has announced he will retire on June 30th. Current president and chief operating officer Don Thompson will succeed Skinner, who has served as CEO since 2004 and has been with McDonald’s for 41 years.

Raytheon - The defense contractor has raised its quarterly dividend to 50 cents from 43 cents, a 16.3 percent increase.

Diamond Foods – The company has reached an agreement with lenders to amend its credit agreements and give it access to funds through June 18. It will make its loan payments, suspend its dividends, and look for ways to strengthen its balance sheet. At the same time, The Wall Street Journal is reporting that Diamond is talking to private equity firms about a possible minority investment.

Urban Outfitters - Chief Financial Officer Eric Artz is stepping down. He’ll depart April 3, with chief accounting officer Frank Conforti replacing Artz. It’s the retailer’s second prominent executive resignation this year, with CEO Glen Senk having departed in January after five years on the job.

Vantiv - Payment processor Vantiv debuts on the New York Stock Exchange today after its IPO was priced at $17 per share, in the middle of the expected range of $16 to $18.

Sony – The company will reportedly name film unit co-chairman Michael Lynton to head its U.S. operations in a management reshuffling, according to the Financial Times.

Apple - South Korean media is reporting that the company’s next iPhone will have a bigger 4.6 inch “retina” display and will be launched during the second quarter.

TiVo - The digital video recorder maker says it’s reached agreement with Microsoft that ends all patent litigation between the two companies.

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