id-Morning Market Update: Markets Open Lower; Lululemon Lowers Q4 Outlook

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Following the market opening Monday, the Dow traded down 0.13 percent to 16,416.05 while the NASDAQ tumbled 0.13 percent to 4,169.07. The S&P also fell, dropping 0.10 percent to 1,840.61.
Top Headline
Lululemon Athletica
LULU
lowered its guidance for the quarter. Lululemon now projects FQ4 earnings of $0.71 to $0.73 per share, versus its December outlook of $0.78 to $0.80 per share. It expects revenue of $513 million to $518 million, versus its earlier forecast of $535 million to $540 million.
Equities Trading UP
Shares of Alnylam Pharmaceuticals
ALNY
got a boost, shooting up 29.89 percent to $86.00 after the company reported that it has
acquired investigational RNAi
Therapeutic assets from Merck
MRK
. Genzyme and Alnylam expanded their collaboration on rare genetic diseases. Beam
BEAM
shot up 24.65 percent to $83.47 after the company agreed to be
acquired by Suntory Holdings
for $83.50 per share in cash. Clovis Oncology
CLVS
was also up, gaining 7.89 percent to $79.82 after the company
announced 2014 objectives
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and financial outlook. The company projected to initiate three global registration studies for CO-1686.
Equities Trading DOWN
Shares of SodaStream International
SODA
were down 22.11 percent to $38.86 after the company lowered its FY13 forecast. Lululemon Athletica
LULU
tumbled 14.55 percent to $50.93 after the company cut its outlook. Ascena Retail Group
ASNA
was down, falling 8.89 percent to $19.99 after the company lowered its FY14 earnings guidance.
Commodities
In commodity news, oil traded down 0.56 percent
to $92.20, while gold traded down 0.01 percent to $1,246.80. Silver traded down 0.71 percent Monday to $20.08, while copper fell 0.54 percent to $3.32.
Euro zone
European shares were mostly higher today. The Spanish Ibex Index rose 0.76 percent, while Italy's FTSE MIB Index surged 0.51 percent. Meanwhile, the German DAX climbed 0.22 percent and the French CAC 40 fell 0.01 percent while U.K. shares gained 0.16 percent.
Economics
The Treasury is set to auction 3-and 6-month bills. The US Treasury monthly budget report for December will be released at 2:00 p.m. ET.
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Posted In: EarningsNewsGuidanceEurozoneFuturesForexGlobalEcon #sEconomicsIntraday UpdateMarketsMoversTechApparel, Accessories & Luxury GoodsConsumer Discretionary
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