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Microsoft (NASDAQ:MSFT) is to hire over 1,000 more employees in China during the year and boost research and development spending by 15 percent as it attempts to catch up with Apple and Google within the fast-growing mobile Internet market, executives stated on Thursday. The announcement adds to growing competition in wireless Internet in China, where almost 400 million people surf the Web via mobile phones and other devices. Microsoft is promoting its Windows 8 mobile operating system but had a late entrance to the market causing it to trail Apple Inc. and Google Inc., whose Android system is widely used in China.
Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) fiscal Q2 earnings saw a 46 percent increase, as the beauty-products retailer benefited from its ongoing expansion and strong same-store sales. Shares were boosted 9 percent to $103.80 in after-hours trading while the results beat the company’s expectations. Shares of Ulta Salon, Cosmetics & Fragrance, Inc. are trading 7.88% higher today.
Lululemon Athletica inc. (NASDAQ:LULU) states that it will open a total of 35 corporate stores with an additional two outlets in FY12. The company also sees gross margin for the year around a long-term target of 55 percent, and it sees operating margin deleveraging a bit from the highest levels seen during 2012. Lululemon sees Q3, Q4 tax rate at 29.5 percent. These comments were made on the Q2 earnings conference call. Shares of Lululemon Athletica inc. are trading 9.88% higher today.
Schmitt Industries, Inc. (NASDAQ:SMIT), a designer, manufacturer, and marketer of computer controlled vibration detection, and balancing equipment, saw a sharp increase in Thursday’s trading session. By the day’s end, the small-cap stock of SMIT rose 1.72 percent higher at $3.55. The stock fell 0.88 percent during the last three trading sessions. In the past three months, SMIT shares saw a 5.97 percent increse. Year-to-date, the stock has risen 10.94 percent. Shares of Schmitt Industries, Inc. are trading 0% higher today.
Intel Corporation (NASDAQ:INTC): Relative to the former forecast, the company is witnessing customers lowering inventory in the supply chain compared to the normal growth in Q3 inventory; softness in the enterprise PC market segment; and slowing emerging market demand. The data center business has been meeting expectations. Shares of Intel Corporation are trading 3.29% lower today.
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