S&P 500 Boosts Lululemon; Pfizer Lowers Profits, Revenue Outlook
- October 13th, 2023
- 706 views
Lululemon Athletica Inc. (Nasdaq: LULU), a notable athletic apparel company, will replace Activision Blizzard Inc. (Nasdaq: ATVI) in the S&P 500 index, effective at the opening of trading on Wednesday, October 18.
The S&P 500 is widely recognized as a benchmark for the U.S. stock market, comprising 500 leading companies with significant market capitalization. As a constituent of the S&P 500, Lululemon Athletica will represent its industry among other major sectors.
$LULU was trading at $395.88 in after-hours, up $18.18 (4.81%) following the announcement.
In other news, Pfizer Inc. (NYSE: PFE) is revising its guidance. Solely from its COVID products, the pharmaceutical giant now expects its full-year 2023 revenues to fall between $58.0 billion and $61.0 billion, down from the prior guidance range of $67.0 billion to $70.0 billion. As a result, Pfizer now expects adjusted diluted earnings per share (EPS) to range from $1.45 to $1.65, compared to the initial EPS range of $3.25 to $3.45 for the period
In after-hours, $PFE was trading at $31.03, down $1.08 (-3.36%)
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