Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market. Harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at what's happening in the marketplace
Speaker 3: today with stock Movers. We do that today Bloomberg's Emily, Emily,
Speaker 3: what are you looking at?
Speaker 4: Okay, So I'm looking at shares of Lululemon ticker Lulu.
Speaker 4: Lulu up thirteen percent right now, the highest level since July.
Speaker 4: After the company boosted its full year outlook and they
Speaker 4: said that the CEO, Calvin McDonald's is going to be
Speaker 4: stepping down after a period of sluggish growth. So the
Speaker 4: stock had been down more than fifty percent through Thursday's close.
Speaker 4: We got the news late yesterday about the CEO stepping down,
Speaker 4: and now it's boosting the shares. And if you look
Speaker 4: at like a chart here of the comp store sales
Speaker 4: growth for Lululemon, it's been declining for at least the
Speaker 4: last two year years. There's been rising competition in the
Speaker 4: ath leisure space. It's not just Lululemon anymore. Which you
Speaker 4: know those leggings are very expensive.
Speaker 3: Yeah, there are a lot of other guys Lulu people.
Speaker 1: No, not necessarily.
Speaker 4: I will say this is not a you know, this
Speaker 4: is not a tout for Lulu. But I will say
Speaker 4: all of the Lulu products that I have hold up really.
Speaker 2: Well, That's what I hear.
Speaker 4: Yeah, so then you don't have to buy anymore. So
Speaker 4: maybe that's why they're not selling as many leggings because
Speaker 4: the probably you pay for it. Yeah, but I mean
Speaker 4: there's just a lot of other ath leisure companies out there.
Speaker 4: Athleta which their parent company is gap Alo, Worry Amazon.
Speaker 3: I mean, we are there. I'm gonna say, like a
Speaker 3: year ago, Derek Jeter came in here because he's doing
Speaker 3: a partnership on the athleisure space with a guy from
Speaker 3: the Untucked Shirt dude, And I go to Derek afterwards,
Speaker 3: why are you doing this?
Speaker 1: Man?
Speaker 3: It's so competitive? Yeah, you're going to go up against
Speaker 3: Nike And are you kidding me?
Speaker 1: I don't know.
Speaker 3: He's smarter than I. I guess we'll see how that
Speaker 3: goes for us.
Speaker 4: Okay, So I'm also watching shares of broadcom ticker AVGO.
Speaker 4: It's down nine percent, the biggest decline since April. Lisa
Speaker 4: Miteo was giving us the rundown, but I'll go through
Speaker 4: it again. The chip company's sales outlook for AI computing
Speaker 4: revenue missed expectations. The stock had run up quite a bit,
Speaker 4: so the expectations were quite high going into the earnings,
Speaker 4: and their CEO Howketon said just yesterday on a conference
Speaker 4: call with analysts, the company has a backlog of seventy
Speaker 4: three billion dollars in AI product orders that will be
Speaker 4: shipped over the next six quarters. That doesn't sound like
Speaker 4: a bad thing, but the number disappointed some investors here
Speaker 4: that it just it wasn't quite enough. And people are
Speaker 4: very sensitive right now when it comes to companies are
Speaker 4: spending on AI, are they actually generating a profit and
Speaker 4: how quickly can they generate that profit? So anything that
Speaker 4: misses expectations, it feels like it really brings us stock down.
Speaker 1: Yeah, sounds like Brockham was really just the victim of
Speaker 1: really really high expectations. Even if it did well, it's
Speaker 1: not good enough. Emily one where you look at cannabis
Speaker 1: stocks today which are soaring high.
Speaker 4: Yes, they are soaring much higher. Till Ray Brands is
Speaker 4: one of those cannabis companies ticker tl r Y. It
Speaker 4: was up as much as forty four percent on an
Speaker 4: intra day basis. Now it's up about twenty six percent.
Speaker 4: We have reporting out today that Trump is expected to
Speaker 4: direct his administration to reclassify marijuana as a less dangerous drug.
Speaker 4: This is big news because cannabis is currently label to
Speaker 4: Schedule one drug up there with heroin and LSD. This
Speaker 4: means that it's categorized as having no medical use, and
Speaker 4: so Trump is weighing pushing it back to reclassifying it
Speaker 4: as a Schedule too drug, which is seen in the
Speaker 4: industry as something that would boost sales and be good.
Speaker 4: But there was kind of news of this back in
Speaker 4: August that Trump said he was going to reclassify it,
Speaker 4: and there was a big move in the stocks, and
Speaker 4: then it kind of reversed. So we'll see if he
Speaker 4: actually makes this move in the stock gains.
Speaker 2: Hold the Stockmovers report from Bloomberg Radio. Check back with
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