Hewlett Packard Enterprise (HPE) soared to a fresh 52-week high intraday last week. The firm posted strong fourth-quarter results.
HPE stock gained 10.62 percent after reporting revenue growth of 15.6% Y/Y to $8.5 billion. Non-GAAP EPS was $0.58. For Q1/FY 2025, the firm expects revenue growth in the mid-teens percentage.
In the luxury market, Ulta Beauty (ULTA) found support at the $400 level. It gained ~ 9% after posting a Q3 GAAP EPS of $5.14. It is worth noting that Warren Buffet’s Berkshire Hathaway invested over $266 million in this firm. However, Berkshire dumped over 95% of its position in Q3 of this year.
Watch for Lululemon (LULU) to continue its breakout above $400 today. The stock gained 22.97% last week after posting Q3/2024 results. U.S. sales strength lifted overall results. The firm is off to a good start as it enters the holiday season.
Customers increased their shopping for Lululemon products over Thanksgiving weekend. This momentum should continue over the December holiday season.
In the medium term, Lululemon will improve its inventory management capabilities. This will have a positive impact on its inventory turns. It should also lift the firm’s profit margins.
