(RTTNews) - Lululemon Athletica Inc. (LULU: News ) raised its third quarter EPS forecast to between $0.17 and $0.19 after the close Monday, from prior expectations of $0.11 to $0.13. The company also increased its revenue forecast to between $110 million and $112 million, from prior guidance of $95 million to $100 million.

Lululemon Athletica gapped up Tuesday and rose sharply in the first 45 minutes of trade. Shares finished up by $2.19 at $27.90 on the highest volume in 4 months. The stock climbed above a 2-week range and set a new high for the year.

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by RTT Staff Writer

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