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: I'm Tim Stanveek along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today. With us
Speaker 3: is a Bloomberg News equities reporter, Avalon Parnell with today's
Speaker 3: stock movers. Avalon, I'm guessing you have a few decliners.
Speaker 4: Today, I sure do. We can go ahead and start
Speaker 4: off with Meta. That's probably the most frequently named right now.
Speaker 4: Meta Platforms as ticker Meta currently falling about five point
Speaker 4: four percent, most since April, and that's after to Financial
Speaker 4: Times reports that Meta is considering raising tens of billions
Speaker 4: of dollars in a stock offering to boost a tech
Speaker 4: company's AI infrastructure. Obviously, this is still in the early
Speaker 4: stages and Meta has not yet hired banks to issue
Speaker 4: the stock, so it's not guaranteed that they will actually
Speaker 4: pursue this plan, but really interesting to see how big
Speaker 4: tech companies are really pursuing this AI situation. Alphabet actually
Speaker 4: at the start of the week also announcing plans for
Speaker 4: an eighty billion dollar raise to fund its AI spending
Speaker 4: and now potentially Meta may be following in their footsteps.
Speaker 1: And I guess some would say, though, Listen, they have
Speaker 1: so much cash on their balance sheet that they have
Speaker 1: the ability to do this equity raise, right, I mean,
Speaker 1: if they had to, they can certainly tap into the
Speaker 1: cash coffers. There's some of that at play. But nonetheless,
Speaker 1: the amount of these offerings that are being entered into,
Speaker 1: you know, are pretty eye opening. Let's go on to Lululemon.
Speaker 1: We've been talking about this name a lot in the
Speaker 1: last twenty four to forty eight hours.
Speaker 4: Yes, Lululemon dealt another blow today. That's ticker Lulu currently
Speaker 4: down about eight point two percent to hit the lowest
Speaker 4: injured day level since twenty eighteen, and that's after apleisure
Speaker 4: maker slashed its annual forecast amid weeeker sales trends. The
Speaker 4: print led several analysts on a Street to go ahead
Speaker 4: and downgrade the stock and also cut price targets. BNP
Speaker 4: perry Baugh writing that lou Lemon's product launches just aren't
Speaker 4: working and that the comparative sales were negative, which makes
Speaker 4: it tough to remain positive about the stock. Worth noting
Speaker 4: though that Lululemon will be bringing in a new CEO
Speaker 4: beginning in September, so will be interesting to see how
Speaker 4: she deals with this situation. Since it's looking like a
Speaker 4: pretty challenging setup.
Speaker 3: She's got her work cut out for her in just
Speaker 3: a few months when she takes the helm of that company. Okay,
Speaker 3: you have meta platforms, you have Lulu.
Speaker 1: What else?
Speaker 4: Warner Brothers Discovery ticker WBD currently sliding about three point
Speaker 4: five percent most inter day since November, and that's after
Speaker 4: Reuter's reports that several US states are considering and preparing
Speaker 4: a lawsuit to block Paramount's acquisition of Warner Bros. While
Speaker 4: it does remain unclear which states would actually want to
Speaker 4: participate in this, it is worth noting that Reuters did
Speaker 4: have an interview earlier this week with California's Attorney General,
Speaker 4: and that person did say that his office would make
Speaker 4: a decision on whether they would pursue potential action.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
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