Lululemon ( LULU ) discloses quarterly results after the closing bell as the yogawear maker looks to retake support at both its shorter-term and longer-term moving averages.
Estimates : Profit to fall 8% to 35 cents on 10% sales growth to $568 million, according to Zacks Investment Research.
Stock : Shares fell 3 cents to 57.58 in morning trade on the stock market today , sliding lower over the last few sessions and breaching support at both the 50-day and 200-day lines on Tuesday.
Bank of America Merrill Lynch had raised its rating of Lululemon to buy from underperform on product innovations and potential market share gains from Nike ( NKE ) and Under Armour ( UAA ).
Lululemon recently teamed up with Pottery Barn's PBteen, a Williams-Sonoma ( WSM ) chain, on an Ivivva home decor collection.
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