1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,200 Speaker 2: in the stock market. Harnessing the power of Bloomberg Data. 4 00:00:16,360 --> 00:00:18,160 Speaker 3: Let's take a look at what's happening in the marketplace 5 00:00:18,200 --> 00:00:22,319 Speaker 3: today with stock Movers. We do that today Bloomberg's Emily, Emily, 6 00:00:22,360 --> 00:00:22,960 Speaker 3: what are you looking at? 7 00:00:23,040 --> 00:00:26,000 Speaker 4: Okay, So I'm looking at shares of Lululemon ticker Lulu. 8 00:00:26,200 --> 00:00:30,560 Speaker 4: Lulu up thirteen percent right now, the highest level since July. 9 00:00:30,760 --> 00:00:33,839 Speaker 4: After the company boosted its full year outlook and they 10 00:00:33,880 --> 00:00:36,199 Speaker 4: said that the CEO, Calvin McDonald's is going to be 11 00:00:36,280 --> 00:00:39,800 Speaker 4: stepping down after a period of sluggish growth. So the 12 00:00:39,840 --> 00:00:43,960 Speaker 4: stock had been down more than fifty percent through Thursday's close. 13 00:00:44,280 --> 00:00:49,240 Speaker 4: We got the news late yesterday about the CEO stepping down, 14 00:00:49,400 --> 00:00:53,159 Speaker 4: and now it's boosting the shares. And if you look 15 00:00:53,200 --> 00:00:56,360 Speaker 4: at like a chart here of the comp store sales 16 00:00:56,400 --> 00:00:59,320 Speaker 4: growth for Lululemon, it's been declining for at least the 17 00:00:59,400 --> 00:01:02,560 Speaker 4: last two year years. There's been rising competition in the 18 00:01:02,600 --> 00:01:05,920 Speaker 4: ath leisure space. It's not just Lululemon anymore. Which you 19 00:01:05,959 --> 00:01:07,600 Speaker 4: know those leggings are very expensive. 20 00:01:08,000 --> 00:01:11,160 Speaker 3: Yeah, there are a lot of other guys Lulu people. 21 00:01:12,680 --> 00:01:14,000 Speaker 1: No, not necessarily. 22 00:01:14,160 --> 00:01:16,680 Speaker 4: I will say this is not a you know, this 23 00:01:16,720 --> 00:01:18,720 Speaker 4: is not a tout for Lulu. But I will say 24 00:01:18,760 --> 00:01:22,640 Speaker 4: all of the Lulu products that I have hold up really. 25 00:01:22,440 --> 00:01:23,200 Speaker 2: Well, That's what I hear. 26 00:01:23,319 --> 00:01:25,480 Speaker 4: Yeah, so then you don't have to buy anymore. So 27 00:01:25,600 --> 00:01:28,479 Speaker 4: maybe that's why they're not selling as many leggings because 28 00:01:28,520 --> 00:01:31,600 Speaker 4: the probably you pay for it. Yeah, but I mean 29 00:01:31,640 --> 00:01:35,000 Speaker 4: there's just a lot of other ath leisure companies out there. 30 00:01:35,120 --> 00:01:39,839 Speaker 4: Athleta which their parent company is gap Alo, Worry Amazon. 31 00:01:40,280 --> 00:01:42,080 Speaker 3: I mean, we are there. I'm gonna say, like a 32 00:01:42,160 --> 00:01:44,360 Speaker 3: year ago, Derek Jeter came in here because he's doing 33 00:01:44,360 --> 00:01:46,679 Speaker 3: a partnership on the athleisure space with a guy from 34 00:01:46,680 --> 00:01:50,160 Speaker 3: the Untucked Shirt dude, And I go to Derek afterwards, 35 00:01:50,360 --> 00:01:51,320 Speaker 3: why are you doing this? 36 00:01:51,440 --> 00:01:51,640 Speaker 1: Man? 37 00:01:51,760 --> 00:01:54,120 Speaker 3: It's so competitive? Yeah, you're going to go up against 38 00:01:54,200 --> 00:01:56,560 Speaker 3: Nike And are you kidding me? 39 00:01:57,160 --> 00:01:57,520 Speaker 1: I don't know. 40 00:01:57,680 --> 00:01:59,200 Speaker 3: He's smarter than I. I guess we'll see how that 41 00:01:59,200 --> 00:02:00,600 Speaker 3: goes for us. 42 00:02:00,680 --> 00:02:04,280 Speaker 4: Okay, So I'm also watching shares of broadcom ticker AVGO. 43 00:02:04,440 --> 00:02:08,120 Speaker 4: It's down nine percent, the biggest decline since April. Lisa 44 00:02:08,120 --> 00:02:10,880 Speaker 4: Miteo was giving us the rundown, but I'll go through 45 00:02:10,919 --> 00:02:14,040 Speaker 4: it again. The chip company's sales outlook for AI computing 46 00:02:14,080 --> 00:02:17,919 Speaker 4: revenue missed expectations. The stock had run up quite a bit, 47 00:02:18,000 --> 00:02:23,040 Speaker 4: so the expectations were quite high going into the earnings, 48 00:02:23,160 --> 00:02:27,200 Speaker 4: and their CEO Howketon said just yesterday on a conference 49 00:02:27,200 --> 00:02:30,200 Speaker 4: call with analysts, the company has a backlog of seventy 50 00:02:30,200 --> 00:02:33,400 Speaker 4: three billion dollars in AI product orders that will be 51 00:02:33,480 --> 00:02:36,480 Speaker 4: shipped over the next six quarters. That doesn't sound like 52 00:02:36,520 --> 00:02:40,640 Speaker 4: a bad thing, but the number disappointed some investors here 53 00:02:40,680 --> 00:02:43,360 Speaker 4: that it just it wasn't quite enough. And people are 54 00:02:43,480 --> 00:02:46,720 Speaker 4: very sensitive right now when it comes to companies are 55 00:02:46,720 --> 00:02:49,440 Speaker 4: spending on AI, are they actually generating a profit and 56 00:02:49,480 --> 00:02:52,160 Speaker 4: how quickly can they generate that profit? So anything that 57 00:02:52,200 --> 00:02:55,160 Speaker 4: misses expectations, it feels like it really brings us stock down. 58 00:02:55,280 --> 00:02:57,680 Speaker 1: Yeah, sounds like Brockham was really just the victim of 59 00:02:57,880 --> 00:03:00,760 Speaker 1: really really high expectations. Even if it did well, it's 60 00:03:00,800 --> 00:03:03,760 Speaker 1: not good enough. Emily one where you look at cannabis 61 00:03:03,760 --> 00:03:05,640 Speaker 1: stocks today which are soaring high. 62 00:03:05,440 --> 00:03:08,400 Speaker 4: Yes, they are soaring much higher. Till Ray Brands is 63 00:03:08,400 --> 00:03:12,960 Speaker 4: one of those cannabis companies ticker tl r Y. It 64 00:03:13,040 --> 00:03:16,280 Speaker 4: was up as much as forty four percent on an 65 00:03:16,280 --> 00:03:19,240 Speaker 4: intra day basis. Now it's up about twenty six percent. 66 00:03:19,680 --> 00:03:22,240 Speaker 4: We have reporting out today that Trump is expected to 67 00:03:22,520 --> 00:03:27,520 Speaker 4: direct his administration to reclassify marijuana as a less dangerous drug. 68 00:03:27,560 --> 00:03:30,160 Speaker 4: This is big news because cannabis is currently label to 69 00:03:30,200 --> 00:03:35,040 Speaker 4: Schedule one drug up there with heroin and LSD. This 70 00:03:35,200 --> 00:03:38,360 Speaker 4: means that it's categorized as having no medical use, and 71 00:03:38,400 --> 00:03:41,280 Speaker 4: so Trump is weighing pushing it back to reclassifying it 72 00:03:41,320 --> 00:03:43,880 Speaker 4: as a Schedule too drug, which is seen in the 73 00:03:43,880 --> 00:03:46,680 Speaker 4: industry as something that would boost sales and be good. 74 00:03:47,120 --> 00:03:49,800 Speaker 4: But there was kind of news of this back in 75 00:03:49,880 --> 00:03:52,120 Speaker 4: August that Trump said he was going to reclassify it, 76 00:03:52,200 --> 00:03:53,640 Speaker 4: and there was a big move in the stocks, and 77 00:03:53,680 --> 00:03:56,200 Speaker 4: then it kind of reversed. So we'll see if he 78 00:03:56,400 --> 00:03:59,480 Speaker 4: actually makes this move in the stock gains. 79 00:03:59,480 --> 00:04:04,720 Speaker 2: Hold the Stockmovers report from Bloomberg Radio. 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