1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast. 2 00:00:10,800 --> 00:00:14,080 Speaker 1: Your roundup of companies making moves in the stock market, 3 00:00:14,240 --> 00:00:17,160 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:17,640 --> 00:00:20,000 Speaker 2: Market Drivers is brought to you by Commonwealth, supporting more 5 00:00:20,000 --> 00:00:22,680 Speaker 2: than two thousand independent financial advisors with a two to 6 00:00:22,760 --> 00:00:26,880 Speaker 2: one advisor to staff ratio small from attentiveness, big advisor impact. 7 00:00:26,920 --> 00:00:29,440 Speaker 2: Go to Commonwealth dot com to learn about their consultative 8 00:00:29,480 --> 00:00:33,440 Speaker 2: support and technology and Alex Steel alongside Paul Sween. You 9 00:00:33,479 --> 00:00:35,280 Speaker 2: want to get some look at some of the stocks 10 00:00:35,280 --> 00:00:38,120 Speaker 2: in the move today, want to get right to Bloomberg's Nora, Melinda. 11 00:00:38,440 --> 00:00:40,479 Speaker 2: Let's kick it off. What are we kicking it off with? 12 00:00:40,520 --> 00:00:43,400 Speaker 3: Actually, Lululemon, I mean, that's what we're all talking about today. 13 00:00:43,400 --> 00:00:45,800 Speaker 3: Of course, this is the worst performing stock buyer percentage 14 00:00:45,840 --> 00:00:47,960 Speaker 3: basis in the S and P five hundred this Friday, 15 00:00:48,280 --> 00:00:50,400 Speaker 3: and this stuff of a company posted a second quarter 16 00:00:51,040 --> 00:00:53,720 Speaker 3: of disappointing results. And of course this has really been 17 00:00:53,720 --> 00:00:57,000 Speaker 3: fueled by TEARFF concerns as people are really trying to 18 00:00:57,000 --> 00:00:59,360 Speaker 3: see how that will affect retailers. But Lulu Linman has 19 00:00:59,360 --> 00:01:02,240 Speaker 3: been struggling with than this, in particular, their guidance currently 20 00:01:02,280 --> 00:01:06,120 Speaker 3: assumes thirty percent tariffs on China and ten percent tariffs 21 00:01:06,160 --> 00:01:08,880 Speaker 3: on other countries. But it really is their shift away 22 00:01:08,880 --> 00:01:11,880 Speaker 3: from yoga pants that has really been derailing a lot 23 00:01:11,880 --> 00:01:14,600 Speaker 3: of their plans and how people are really perceiving the 24 00:01:14,600 --> 00:01:16,680 Speaker 3: company right now. I was looking at a Jeffrey's note 25 00:01:16,680 --> 00:01:20,360 Speaker 3: that said Lulu's worsening guidance feels like death by a 26 00:01:20,440 --> 00:01:24,200 Speaker 3: thousand cuts. I found that quite intense there. But of 27 00:01:24,240 --> 00:01:27,120 Speaker 3: course shares are falling for their worst day since the 28 00:01:27,200 --> 00:01:28,279 Speaker 3: pandemic twenty twenty. 29 00:01:29,720 --> 00:01:33,160 Speaker 2: It's just about pandemics, like a people stock up on 30 00:01:33,200 --> 00:01:36,200 Speaker 2: their lululemits because they were working out from Maybe that's 31 00:01:36,200 --> 00:01:38,640 Speaker 2: what happened. But it's a little threefold. I mean, there's 32 00:01:38,680 --> 00:01:41,319 Speaker 2: a lot of competition now, like with l yoga in 33 00:01:41,319 --> 00:01:44,039 Speaker 2: a way that wasn't there before. Then you have supply 34 00:01:44,160 --> 00:01:46,920 Speaker 2: chain issues, and then you have overall consumer issues. So 35 00:01:46,959 --> 00:01:50,400 Speaker 2: it's sort of like a trifecta for Lua pants are 36 00:01:50,400 --> 00:01:53,760 Speaker 2: out of favor. No no, no, no, there's more competition, more competition. 37 00:01:53,840 --> 00:01:56,400 Speaker 3: People are looking to other places, really tightening their wallets, 38 00:01:56,640 --> 00:01:59,680 Speaker 3: and of course a little limit that's ticker lu Lu. 39 00:02:00,120 --> 00:02:03,840 Speaker 3: I'm also keeping eyes on Broadcom, so let's tick her avgo. 40 00:02:04,000 --> 00:02:06,200 Speaker 3: We're seeing shares are down as much as about four 41 00:02:06,720 --> 00:02:09,000 Speaker 3: and a half percent today. Now, the company gave a 42 00:02:09,080 --> 00:02:12,160 Speaker 3: lack lesser revenue forecast for this current quarter, and they're 43 00:02:12,240 --> 00:02:17,280 Speaker 3: essentially making people nervous that APAI spending frenzy isn't as 44 00:02:17,280 --> 00:02:19,839 Speaker 3: strong as Wall Street actually did anticipate. And of course 45 00:02:19,840 --> 00:02:21,400 Speaker 3: we know that people have really been looking at AI 46 00:02:21,480 --> 00:02:24,519 Speaker 3: spend and of course Broadcom did miss some of the 47 00:02:24,560 --> 00:02:27,480 Speaker 3: loftiest of expectations here. And this is a company that 48 00:02:27,520 --> 00:02:31,040 Speaker 3: of course applies chips to firms like Alphabet Apple, So 49 00:02:31,160 --> 00:02:33,320 Speaker 3: this is something that's really in focus here today as 50 00:02:33,320 --> 00:02:35,040 Speaker 3: people are really just kind of parsing what's going on 51 00:02:35,120 --> 00:02:36,280 Speaker 3: in the AI space right now. 52 00:02:36,400 --> 00:02:38,920 Speaker 2: To that point, though, you can make an argument that 53 00:02:39,080 --> 00:02:43,160 Speaker 2: Broadcom is very well owned going into this. So how 54 00:02:43,240 --> 00:02:46,040 Speaker 2: much of it was real disappointment versus just expectations so 55 00:02:46,160 --> 00:02:48,280 Speaker 2: high you were just so owned you got to diversify. 56 00:02:48,639 --> 00:02:50,360 Speaker 2: That's really question mark too. All right, let's wrap it 57 00:02:50,400 --> 00:02:51,800 Speaker 2: up with Circle Internet Group. 58 00:02:51,960 --> 00:02:54,680 Speaker 3: Yes, so, of course this is an IPO that happened yesterday, 59 00:02:55,120 --> 00:02:57,040 Speaker 3: and it's we're seeing shares are up as much as 60 00:02:57,080 --> 00:03:00,120 Speaker 3: twenty five percent today climbing for double digits. So this 61 00:03:00,200 --> 00:03:02,560 Speaker 3: is after yesterday on the opening day, we saw shares 62 00:03:02,560 --> 00:03:05,600 Speaker 3: that surged one hundred and sixty eight percent. So we're 63 00:03:05,639 --> 00:03:08,080 Speaker 3: seeing this stock that's really on a tear right now, 64 00:03:08,400 --> 00:03:11,280 Speaker 3: and we're seeing that the issue are more than tripled 65 00:03:11,320 --> 00:03:13,519 Speaker 3: from its IPO price here, and this is one of 66 00:03:13,560 --> 00:03:16,520 Speaker 3: the largest first A pops that we've seen for any 67 00:03:16,639 --> 00:03:19,400 Speaker 3: USIPO that's raised more than one hundred million dollars since 68 00:03:20,000 --> 00:03:23,280 Speaker 3: Sono Group actually came out in twenty twenty one, and 69 00:03:23,320 --> 00:03:26,160 Speaker 3: that was actually a solar tech company that focuses on 70 00:03:26,200 --> 00:03:27,040 Speaker 3: commercial vehicles. 71 00:03:27,840 --> 00:03:31,960 Speaker 1: The Stock Movers podcast from Bloomberg Radio. 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