August Jobs Report, Lululemon Earnings Drop, and Zscaler Outperforms in Cybersecurity
The U.S. August jobs report is due today amid expectations of a modest 53,000 job additions with an unchanged unemployment rate. The data will be closely watched by the Federal Reserve as it faces pressure to cut interest rates. Lululemon shares dropped over 20% after reporting weaker-than-expected second-quarter revenue and declining comparable sales. Interim CEO Meghan Frank attributed poor performance partly to negative social media sentiment, with new CEO Heidi O'Neill set to take charge soon. Cybersecurity firm Zscaler outperformed expectations in its fourth fiscal quarter, posting a 25% year-over-year revenue increase despite underperforming peers this year. The company is benefiting from rising demand due to AI-related risks.
