Orlando, FL -- (SBWIRE) -- 09/12/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Sterling Financial Corporation (NASDAQ:STSA), Lululemon Athletica inc. (NASDAQ:LULU).
Sterling Financial Corporation (NASDAQ:STSA) shares gained 6.57% to $28.33. Umpqua Holdings Corporation (NASDAQ: UMPQ) and Sterling Financial Corporation (NASDAQ: STSA) on Sept. 11 announced that they have entered into a definitive agreement pursuant to which Sterling will merge with and into Umpqua. The transaction will have a total value of approximately $2.0 billion.
The merger will result in the West Coast’s largest community bank with expanded geographic reach. The combined organization will have approximately $22 billion in assets, $15 billion in loans and $16 billion in deposits, with 5,000 associates and 394 stores across five states – Oregon, Washington, Idaho, California and Nevada. Umpqua and Sterling have also agreed to establish and fund a $10 million community foundation, underscoring their mutual commitment to serving their communities.
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Lululemon Athletica inc. (NASDAQ:LULU) shares declined 6.56% to $64.51. The company on Sept. 12 announced financial results for the second quarter ended August 4, 2013. Net revenue for the quarter increased 22% to $344.5 million from $282.6 million in the second quarter of fiscal 2012. Income from operations for the quarter increased 12.5% to $79.0 million, and as a percentage of net revenue was 22.9% compared to 24.8% of net revenue in the second quarter of fiscal 2012. Diluted earnings per share for the quarter were $0.39 on net income of $56.5 million, compared to diluted earnings per share of $0.39 on net income of $57.2 million in the second quarter of fiscal 2012.
Looking forward, the company expect third quarter of fiscal 2013 net revenue to be in the range of $370 million to $375 million. Diluted earnings per share are expected to be in the range of $0.39 to $0.41 for the quarter. This assumes 146.0 million diluted weighted-average shares outstanding and a tax rate of 30.0%.
Is LULU going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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