TheStreet’s Jim Cramer is keeping an eye on Lululemon Athletica (LULU) Wednesday when the company releases its third quarter results before the opening bell. Cramer says, ‘I can never recommend a stock on a takeover basis if the fundamentals are awry, even if the stock has come down a lot.’ He says, ‘My take is that if LULU is really good then…you’re going to have to wait, I’m not going to be the guy, but it’s what people are focused on and they’re focused on it because they think that either Under Armour (UA) or Nike (NKE) will buy it…Nike has said they don’t like to buy companies, they’ve made some mistakes, and Under Armour has never done that, so you’re on your own if you’re buying it for a take over basis.’ Analysts are expecting Lululemon to post earnings of $0.37 a share on $482 million in revenue. Shares of LULU are down nearly 7 percent year-to-date.
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