Midday movers: Lululemon, Disney

Stocks are lower even though unemployment claims declined last week.

By MSN Money Partner Sep 12, 2013 2:11PM
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Shares of athletic retailer Lululemon (LULU) sank about 6% after the company's secon- quarter results beat forecasts, but it issued third quarter and yearly guidance that fell shy of analysts' consensus estimate. 

Disney (DIS) climbed about 3% after CFO says company plans to buy back $6 to $8 billion in stock.  

Among the notable gainers was Oclaro (OCLR), which jumped 33% after selling a subsidiary and associated business to II-VI (IIVI) in a transaction valued at $115M, along with giving II-VI an exclusive option to purchase another of its businesses for $88M. 

Also higher were shares of Extreme Networks (EXTR), which rose 10% after buying Enterasys Networks in a $180M deal that the company said will be immediately accretive. 

Among the noteworthy losers was EZchip Technologies (EZCH), which plunged 19% after its largest customer, tech giant Cisco (CSCO), introduced a new integrated network processor. 

Also dropping sharply were shares of specialty retailer Men's Wearhouse (MW), which fell over 12% after the company lowered its fiscal year 2013 profit outlook.
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