Lululemon's sour outlook; Apple may hit a new beat; Five Below gets its cool back

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today

Lululemon (LULU) shares are falling in early trading. The yoga-gear retailer provided a weaker-than-expected outlook for its current quarter and the year.  But earnings and revenue for its holiday quarter beat forecasts as sales growth improved.

Red Hat (RHT) shares are higher ahead of the open. The largest distributor of Linux software reporting earnings and revenue that topped analysts' forecasts in the fourth quarter. Sales rose nearly 16% from a year earlier thanks to strong demand for its open-source software and its cloud-based products. However, the company said the stronger dollar will impact revenue in the current quarter. And it also announced it will buy back $500 million worth of stock.

Five Below (FIVE) shares are jumping before the bell. The discount retailer posting beats on both its top and bottom lines for the holiday quarter, driven by stronger-than-expected sales growth. The company said it will continue to expand, opening 70 stores this year. However, it provided a disappointing outlook for the current quarter.

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PVH (PVH) shares are on the move in the pre-market.  The owner behind Tommy Hilfiger and Calvin Klein brands warned that the stronger dollar will take a toll on its profits for the current quarter and the full year. Meantime, earnings in the fourth quarter beat Wall Street views, but revenue slightly missed estimates.

Apple (APPL) also grabbing investors’ attention. The tech giant is reportedly working with Beats Electronics to launch a new music streaming business. The New York Times reports that Beats is also reshaping the iPhone music app. Apple acquired Beats last year for $3 billion.