Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Stockmovers It's a podcast on Apple, YouTube, Spotify and arrests
Speaker 2: Strong On a Friday, was Stockmovers is Alexis Brunson.
Speaker 3: Oh sho I am when I adopted this entire series,
Speaker 3: That's who I am? SENDBASI. Okay, let's start with lulu Lemon.
Speaker 3: This stock taking it on the chin here in the
Speaker 3: pre market down twelve percent, So if that holds, Lululemon's
Speaker 3: going to hit its lowest level since twenty eighteen. The
Speaker 3: stock has declined forty percent so far this year. It's
Speaker 3: one of the worst performers in the S and P
Speaker 3: five hundred. So why all right? Well, the most recent news, Yes,
Speaker 3: Tom wants.
Speaker 2: To say, I'm listening.
Speaker 3: Oh oh, this is him listening. Oh listen, this is
Speaker 3: they lowered their annual forecast, deteriorating a demand in North America.
Speaker 3: Revenue and profit guidance for the current quarter also below expectation.
Speaker 3: So here are the problems and they are piling up
Speaker 3: for Lululemon. Increase competition from brands like Alo Pass their
Speaker 3: store the other day, just yesterday on Fifth Avenue, a
Speaker 3: bunch of people in there. Spate of poor product launches
Speaker 3: like those see through leggings. Who wants to wear sea
Speaker 3: through leggings?
Speaker 2: I try.
Speaker 3: They're also facing a probe from the Texas Attorney General's
Speaker 3: Office over the alleged use of Forever chemicals. Then you've
Speaker 3: got their billionaire founder, Chip Wilson criticizing the company.
Speaker 1: It's question, Yeah, do are they just out?
Speaker 3: I feel like with the with the young kids they are,
Speaker 3: they used to have a cool factor and the edge,
Speaker 3: and I feel like something's missing. Yeah, there you go.
Speaker 3: And so they're getting a new CEO, Heidi O'Neal. So
Speaker 3: she definitely has, you know, her work cutout for her
Speaker 3: when she takes over in September. Let's move on to Docuse.
Speaker 3: Ticker symbol DOCU down four point six percent. It is
Speaker 3: off twenty five percent year to date. This is an
Speaker 3: electronic signature company. Reported a rise in first quarter profit
Speaker 3: yesterday after the market closed, and guided for a slight
Speaker 3: increase in revenue. And here's when you get into the minutia.
Speaker 3: The annual recurring revenue rate was unchanged like between eight
Speaker 3: and a quarter and eight and three quarters, and investors
Speaker 3: might be disappointed by that. They want it sort of
Speaker 3: a timeline for when DocuSign is going to return to
Speaker 3: double digit revenue growth. But overall, an analyst over at
Speaker 3: Jeffrey said, these results from docusigine, they show a good
Speaker 3: start to the year, especially given the lack of any
Speaker 3: negative AI impact. I mean, I think that's as good
Speaker 3: as we can hope for now, as these companies are
Speaker 3: not coming out and saying we've been clabbered by AI,
Speaker 3: all right, and let's move on to actually a tryad
Speaker 3: of companies that are being hit by what's happening with bitcoin.
Speaker 3: So these cryptocurrency related companies, Coinbase, a robin Hood Strategy,
Speaker 3: they are all lower in the pre market. This is
Speaker 3: as Bitcoin now about two and a half percent, so
Speaker 3: just below sixty two thousand dollars. It was lower even
Speaker 3: earlier this morning. And by the way, it's not just Bitcoin.
Speaker 3: I checked out Ether lowest level in over a year
Speaker 3: now falling more than eight percent to sixteen twenty five.
Speaker 3: But look, it all started on Monday, right when a
Speaker 3: strategy announced it sold a small sum of bitcoin for
Speaker 3: the first time since twenty twenty two, and their head
Speaker 3: Michael Saylor, remember, had said I'm never selling, So I
Speaker 3: think that really freaked the market side.
Speaker 2: I should agree with that, But what else is going on?
Speaker 2: And I don't have a straight answer.
Speaker 3: I don't know. They're seeing a lot of outflows from
Speaker 3: these cryptocurrency et yes, exisode. Yeah, some companies se exactly,
Speaker 3: and they're sort of decoupled now from the tech rally
Speaker 3: because they were running in tandem and now they're not.
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