WEBVTT - Meta Slumps, Lululemon Sinks, Warner Bros. Discovery Falls

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Tim Stanveek along with Carol Masser. Let's take a

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<v Speaker 3>look at some stocks on the move today. With us

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<v Speaker 3>is a Bloomberg News equities reporter, Avalon Parnell with today's

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<v Speaker 3>stock movers. Avalon, I'm guessing you have a few decliners.

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<v Speaker 4>Today, I sure do. We can go ahead and start

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<v Speaker 4>off with Meta. That's probably the most frequently named right now.

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<v Speaker 4>Meta Platforms as ticker Meta currently falling about five point

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<v Speaker 4>four percent, most since April, and that's after to Financial

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<v Speaker 4>Times reports that Meta is considering raising tens of billions

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<v Speaker 4>of dollars in a stock offering to boost a tech

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<v Speaker 4>company's AI infrastructure. Obviously, this is still in the early

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<v Speaker 4>stages and Meta has not yet hired banks to issue

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<v Speaker 4>the stock, so it's not guaranteed that they will actually

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<v Speaker 4>pursue this plan, but really interesting to see how big

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<v Speaker 4>tech companies are really pursuing this AI situation. Alphabet actually

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<v Speaker 4>at the start of the week also announcing plans for

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<v Speaker 4>an eighty billion dollar raise to fund its AI spending

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<v Speaker 4>and now potentially Meta may be following in their footsteps.

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<v Speaker 1>And I guess some would say, though, Listen, they have

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<v Speaker 1>so much cash on their balance sheet that they have

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<v Speaker 1>the ability to do this equity raise, right, I mean,

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<v Speaker 1>if they had to, they can certainly tap into the

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<v Speaker 1>cash coffers. There's some of that at play. But nonetheless,

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<v Speaker 1>the amount of these offerings that are being entered into,

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<v Speaker 1>you know, are pretty eye opening. Let's go on to Lululemon.

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<v Speaker 1>We've been talking about this name a lot in the

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<v Speaker 1>last twenty four to forty eight hours.

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<v Speaker 4>Yes, Lululemon dealt another blow today. That's ticker Lulu currently

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<v Speaker 4>down about eight point two percent to hit the lowest

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<v Speaker 4>injured day level since twenty eighteen, and that's after apleisure

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<v Speaker 4>maker slashed its annual forecast amid weeeker sales trends. The

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<v Speaker 4>print led several analysts on a Street to go ahead

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<v Speaker 4>and downgrade the stock and also cut price targets. BNP

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<v Speaker 4>perry Baugh writing that lou Lemon's product launches just aren't

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<v Speaker 4>working and that the comparative sales were negative, which makes

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<v Speaker 4>it tough to remain positive about the stock. Worth noting

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<v Speaker 4>though that Lululemon will be bringing in a new CEO

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<v Speaker 4>beginning in September, so will be interesting to see how

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<v Speaker 4>she deals with this situation. Since it's looking like a

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<v Speaker 4>pretty challenging setup.

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<v Speaker 3>She's got her work cut out for her in just

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<v Speaker 3>a few months when she takes the helm of that company. Okay,

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<v Speaker 3>you have meta platforms, you have Lulu.

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<v Speaker 1>What else?

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<v Speaker 4>Warner Brothers Discovery ticker WBD currently sliding about three point

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<v Speaker 4>five percent most inter day since November, and that's after

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<v Speaker 4>Reuter's reports that several US states are considering and preparing

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<v Speaker 4>a lawsuit to block Paramount's acquisition of Warner Bros. While

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<v Speaker 4>it does remain unclear which states would actually want to

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<v Speaker 4>participate in this, it is worth noting that Reuters did

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<v Speaker 4>have an interview earlier this week with California's Attorney General,

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<v Speaker 4>and that person did say that his office would make

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<v Speaker 4>a decision on whether they would pursue potential action.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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