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Speaker 1: Bloomberg Audio Studios, podcasts, radio News.

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Speaker 2: The Stock Movers Report, your roundup of companies making moves

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Speaker 2: in the stock market, harnessing the power of Bloomberg Data.

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Speaker 1: Let's take a look at some stocks on the move

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Speaker 1: this week. I'm Tim Staneveek along with Carol Masser, and

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Speaker 1: we're joined by Bloomberg News Deputy team leader for US

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Speaker 1: Equities Jessmanton Jess Lot Moving this week, what did you pick?

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Speaker 3: The top performer and the best performer in the S

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Speaker 3: and P five hundred was Western Digital. The ticker symbol

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Speaker 3: is WDC, so if you use the MLV function you

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Speaker 3: could see that on a weekly basis. So this is

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Speaker 3: a digital stored solutions compatible with MAX and PCs and

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Speaker 3: things like that. So hard disk drives obviously, and this

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Speaker 3: is a big time when you're thinking about generative AI

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Speaker 3: and how it's going to have a huge impact on

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Speaker 3: those large corporations and how they do business. So what

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Speaker 3: really kind of catapulted this rally this week on a

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Speaker 3: weekly basis up almost fifteen percent this week was basically

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Speaker 3: Morgan Stanley ended up naming the stop as its top

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Speaker 3: picked and how this what was once thought of as

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Speaker 3: a laggard could end up becoming more of an industry

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Speaker 3: type winner because usually it gets overshadowed by Seagate, which

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Speaker 3: I will mention if you look at that ticker STX

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Speaker 3: this week also one of the top performers, up twelve

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Speaker 3: percent on a weekly basis. So Eric Woodring is the

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Speaker 3: analyst at Morgan Stanley, so he has a firm and

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Speaker 3: basically maintained this by rating on the data storage company.

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Speaker 3: So it boosted its price target to ninety nine dollars

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Speaker 3: and it was previously ninety two dollars. And the big

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Speaker 3: thing on this is if you just look from a

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Speaker 3: valuation perspective, is what he was arguing. He was believing

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Speaker 3: that Western Digital's twenty percent valuation discount over some of

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Speaker 3: its larger peers is basically being overlooked compared to what

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Speaker 3: is happening on the fundamental side, and they see that

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Speaker 3: more probability in the future and some of the issues

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Speaker 3: it had from a management perspective is expected to improve.

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Speaker 3: So that, of course one of the top performers this

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Speaker 3: week along with Seagate.

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Speaker 4: Yeah, that was one of the gainers from throughout the

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Speaker 4: week for me as well. I mean this dock now

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Speaker 4: up about one hundred and four percent year to date,

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Speaker 4: so quite a tear. It makes me think we got

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Speaker 4: to look at these sectors or get these CEOs on right.

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Speaker 1: Yeah, sounds good. Hey, speaking of a stock that did

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Speaker 1: pretty well this week, Broadcom chicker AVG pretty well, not

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Speaker 1: as well as Western Digital, but still very well.

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Speaker 3: Right, So up almost thirteen percent on a weekly basis,

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Speaker 3: and as you mentioned, the ticker avgo and of course

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Speaker 3: the share storing on its work with open Ai to

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Speaker 3: create a new AI chip, and just recently in recent weeks,

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Speaker 3: people were talking about when it came to in videos

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Speaker 3: revenue forecasts not coming in quite as strong as what

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Speaker 3: analysts had be anticipating, as kind of a rare to

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Speaker 3: see the poster child of AI do that. But then

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Speaker 3: still you can't overlook Broadcom because it's still seen as

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Speaker 3: a key AI beneficiary and so the fact that it's

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Speaker 3: holding up well and also actually added more than two

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Speaker 3: hundred billion dollars to the company's market cap on Friday.

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Speaker 3: So if you're looking at the chip designers and how

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Speaker 3: it's benefiting from a post chat GBT boom, that actually

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Speaker 3: gave investors some more optimism on the AI story. On

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Speaker 3: the back of some components with an nvidious report recently

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Speaker 3: about that missed some of analysts expectations.

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Speaker 4: Broadcom now up about almost forty five percent year to date,

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Speaker 4: so definitely some momentum into that. One not having such

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Speaker 4: a great week Lululemon.

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Speaker 3: Lulu is the ticker symbol, So Lulu down seventeen percent

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Speaker 3: this week and that was basically it's worst weekly performance

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Speaker 3: since March of twenty twenty. So unfortunately, I mean, when

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Speaker 3: you think about some of the ath leisure were and

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Speaker 3: maybe more expensive compared to some of its counterparts, and

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Speaker 3: what that's a tell on the economy. Unfortunately, it's having

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Speaker 3: this elusive recovery that's prompting seven analyst cuts and actually

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Speaker 3: more than that now, so the shares hit its lowest

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Speaker 3: level since the onset of the pandemic. And unfortunately, what

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Speaker 3: happened here and why this happened, It actually cut its

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Speaker 3: outlook for both the third quarter and the third year

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Speaker 3: and the full year rather so it actually was hurt

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Speaker 3: by weak demand. And then also a component of that,

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Speaker 3: of course, probably not surprisingly is trade and tariffs under

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Speaker 3: the Trump administration. So you're seeing the by rating of

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Speaker 3: those shares dropping two. It's lowest since twenty fourteen if

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Speaker 3: you're looking at the an R functions, So like TD

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Speaker 3: Cowen analyst John kernin, so the company needs to strategically

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Speaker 3: pivot as the company's entering this new phase, and so

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Speaker 3: just looking at the pain in that company's stock right now.

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Speaker 3: Unfortunately that had actually recent years still outperformed many of

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Speaker 3: its peers. So whether that's a tell on the economy,

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Speaker 3: we'll have to wait and see in the cup next

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Speaker 3: few months.

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Speaker 4: Whether it's company specific or something more broadly in terms

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Speaker 4: of consumer spending. The stock, by the way, shares of

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Speaker 4: Lulu down fifty six percent year to date.

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Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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