The stock market closed flat on Thursday after higher-than-expected inflation data for December, which posted a 0.3% increase in consumer prices during the month. Such pushed the annual rate to 3.4%.
Overall, S&P 500 declined 0.1% to 4,780, while NASDAQ was flat at 14,970.
Tweet of the Day
UBS is predicting AI industry revenue to grow to $420 billion by 2027, a 40% increase from its prior view for $300 billion.
This would represent a 72% CAGR from $28 billion in 2022.$NVDA $AMD $MSFT $GOOG pic.twitter.com/B5YLpfDtu5
— Beth Kindig (@Beth_Kindig) January 12, 2024
Chart of the Day
Here is the one-year chart of Lululemon (LULU) as of December 20, 2023, when the stock was at $505.
Lululemon sustained positive momentum last quarter with busy stores and a Black Friday which was the company’s biggest sales day in its history. Management stated that the stores were busy, and that’s good news for next quarter’s results.
In addition, the company keeps innovating new lines. Last quarter, Lululemon launched Wundermost for women, a collection of body wear that’s made of the company’s softest fabric ever. For men, it launched Steady State and Soft Jersey lounge wear. In 2024, the company will launch men’s footwear.
Overall, Lululemon delivered 27% profit growth on 19% revenue growth during the quarter.
LULU is part of the Growth Portfolio and Aggressive Growth Portfolio.
