Company News for December 02, 2011

• Lululemon (NASDAQ:LULU) posted Q3 EPS of $0.27, above the Zacks Consensus Estimate of $0.25 per share. Revenues for the quarter gained 31% year-over-year and came in at $230.20 million

• Zumiez (NASDAQ:ZUMZ) reported Q3 EPS of $0.45, higher than the Zacks Consensus Estimate of $0.41 per share. Revenues for the quarter rose 13.3% year-over-year to $154.0 million

• Apparel retailer Charming Shoppes Inc.’s (NASDAQ:CHRS) shares increased 9.02% after the company announced its decision to sell its Fashion Bug operations and is also conducting a strategic review of the company

• Sprint Nextel Corp. (NYSE:S) said it will pay up to $1.6 billion to Clearwire Corp (NASDAQ:CLWR) in the coming four years and will use the data network created by the wireless carrier. Following this development, shares of Clearwire Corporation gained 14.04% per share to close at $2.03

• Share prices of clothing retailer Coldwater Creek Inc. (NASDAQ:CWTR) advanced 6.96% after the company posted better-than-expected revenues for the third-quarter

• Software developer Synopsys Inc. (NASDAQ:SNPS) acquired chip design company Magma Design Automation Inc. (NASDAQ:LAVA) for $7.35 per share

• La-Z-Boy Inc.’s (NYSE:LZB) share prices gained 16.87% to $11.57 after the retailer's second quarter earnings results topped expectations

• Share prices of shipping company Scorpio Tankers Inc. (NYSE:STNG) declined 19.67% after it offered to sell 7 million shares at $5.50 a share

• Freight logistics company UTI Worldwide Inc.’s (NASDAQ:UTIW) shares declined more than 13% after the company's third-quarter sales came in below of expectations