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Lululemon profit, sales ahead of expectations; raises 2015 view

Lululemon Athletica Inc. on Thursday posted second-quarter results that came in ahead of Wall Street’s estimates. The yoga-gear maker’s net earnings were $47.7 million, or 34 cents a share, on revenue of $453 million. A year ago, earnings were $48.7 million, or 33 cents a share, on sales of $390.7 million. Analysts polled by FactSet had expected per-share earnings of 33 cents a share on revenue of $445.6 million. Same-store sales rose 6% on a constant dollar basis for the most recent period. Lululemon now expects fiscal 2015 sales of $2.03 billion to $2.06 billion, and per-share earnings of $1.87 to $1.92. The company in June forecast sales of $2 billion to $2.05 billion, and earnings of $1.86 to $1.91 a share.

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API data said to show 2.1 million-barrel rise in crude supplies

The American Petroleum Institute late Wednesday reported that crude supplies rose by 2.1 million barrels for the week ended Sept. 4, according to sources. Analysts polled by Platts forecast a climb of 300,000 barrels. October crude was at $44.15 a barrel on Globex, unchanged from the settlement on the New York Mercantile Exchange. Supply reports were delayed by a day because of the Labor Day holiday. The more closely watched Energy Information Administration report is due Thursday.

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Express Scripts names Tim Wentworth CEO, effective May 2016

Express Scripts Holding Inc. said Wednesday it has appointed Tim Wentworth as chief executive effective May 2016, replacing George Paz who is retiring. Wentworth was named president of the health care company in February of 2014. He joined the company in April 2012, following its merger with Medco Health Solutions, where he held a number of leadership roles. he has also done stints at Accredo as CEO, at Mary Kay Inc. and at PepsiCo Inc. Express Scripts shares were little changed in after-hours trade, but are down 1.3% in the year so far, while the S&P 500 has lost 5.6%.

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Con-Way shares up 33% after $3 billion deal with XPO Logistics

Shares of Con-Way Inc. rallied 33% in after-hours trading Wednesday after XPO Logistics Inc. said it had agreed to buy the Ann Arbor, Mich.-based Con-Way for $3 billion. Under the terms of the agreement, XPO will launch a tender offer for all Con-Way’s shares at a cash price of $47.60 a share. That’s 34% higher than Con-Way’s Wednesday closing price of $35.53. The deal was valued at $3 billion, including $290 million in debt. Bradley Jacobs, XPO’s chairman and chief executive, will keep these positions at the combined company. Shares of XPO were flat in late trading after ending the day down 2.4%.

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Krispy Kreme shares plunge after company misses targets

Krispy Kreme Doughnuts Inc. said Wednesday it earned $5.9 million, or 9 cents a share, in the fiscal second quarter, compared with $5.8 million, or 8 cents a share, a year ago. Revenue rose 5.7% to $127.3 million in the quarter, the doughnut maker said. Adjusted for one-time items, Krispy Kreme reported an adjusted net income of 15 cents a share. Analysts polled by FactSet had expected the company to report adjusted earnings of 18 cents a share on sales of $131.2 million. The company said its U.S. same-store sales rose 5.5% in the quarter, while international franchise same-store sales were down 2.7%. Shares of Krispy Kreme plunged after the revenue and earnings miss and were down as much as 17% in after-hours trading after ending the regular session down 0.8%.

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Box shares rise 3% after beating earnings expectations

Box Inc. shares rose 3% after hours Wednesday after the company beat second-quarter earnings and revenue expectations. Box reported a net loss of $49.8 million, or a loss of 42 cents per share, compared to a loss of $38.3 million, or a loss of $2.71 per share, in the year-earlier period. Box reported an adjusted loss per share of 28 cents, narrower than the FactSet consensus of a loss of 29 cents. It reported revenue of $73.5 million, up from $51.4 million in the year-earlier period and above the FactSet consensus of $69.7 million. Box issued third-quarter guidance for revenue in the range of $76 million to $77 million above the FactSet consensus of $74.2 million. “We delivered another strong quarter with year over year revenue growth of 43% and billings growth of 45% driven by new and expanding customer deployments,” said Aaron Levie, CEO of Box. Shares of Box have fallen 16% in the past three months, compared to the S&P 500’s loss of 7%

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