Stocks to Watch Friday: Dell, Lululemon, Elastic, Ulta Beauty

Dell

Dell to Cut Jobs Amid Declining PC Sales

Amid declining PC sales, Dell Technologies is planning to lay off approximately 6,650 employees, or 5% of its global workforce.

The company has been struggling with falling demand for its personal computers, a trend that has been exacerbated by the global economic downturn.

Dell's revenue declined by 6% in its most recent quarter, and the company has warned that it expects further declines in the coming quarters.

Lululemon

Lululemon Raises Guidance on Strong Holiday Sales

Lululemon Athletica has raised its sales and earnings guidance for the fourth quarter following strong holiday sales.

The company now expects revenue to be between $2.66 billion and $2.70 billion, up from its previous guidance of $2.60 billion to $2.65 billion.

Lululemon also raised its earnings per share guidance to between $4.22 and $4.27, up from $4.15 to $4.22.

Elastic

Elastic Reports Strong Revenue Growth Despite Losses

Elastic NV reported strong revenue growth in its latest quarter, but the company also posted a wider loss.

Revenue for the quarter was $296.9 million, up 34% from the same period last year.

The company's net loss, however, widened to $46.8 million from $28.6 million in the same period last year.

Ulta Beauty

Ulta Beauty Sees Strong Holiday Sales, Raises Guidance

Ulta Beauty also reported strong holiday sales and raised its guidance for the fourth quarter.

The company now expects revenue to be between $2.72 billion and $2.75 billion, up from its previous guidance of $2.68 billion to $2.72 billion.

Ulta Beauty also raised its earnings per share guidance to between $6.53 and $6.62, up from $6.43 to $6.53.