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Speaker 2: want to get some look at some of the stocks
Speaker 2: in the move today, want to get right to Bloomberg's Nora, Melinda.
Speaker 2: Let's kick it off. What are we kicking it off with?
Speaker 3: Actually, Lululemon, I mean, that's what we're all talking about today.
Speaker 3: Of course, this is the worst performing stock buyer percentage
Speaker 3: basis in the S and P five hundred this Friday,
Speaker 3: and this stuff of a company posted a second quarter
Speaker 3: of disappointing results. And of course this has really been
Speaker 3: fueled by TEARFF concerns as people are really trying to
Speaker 3: see how that will affect retailers. But Lulu Linman has
Speaker 3: been struggling with than this, in particular, their guidance currently
Speaker 3: assumes thirty percent tariffs on China and ten percent tariffs
Speaker 3: on other countries. But it really is their shift away
Speaker 3: from yoga pants that has really been derailing a lot
Speaker 3: of their plans and how people are really perceiving the
Speaker 3: company right now. I was looking at a Jeffrey's note
Speaker 3: that said Lulu's worsening guidance feels like death by a
Speaker 3: thousand cuts. I found that quite intense there. But of
Speaker 3: course shares are falling for their worst day since the
Speaker 3: pandemic twenty twenty.
Speaker 2: It's just about pandemics, like a people stock up on
Speaker 2: their lululemits because they were working out from Maybe that's
Speaker 2: what happened. But it's a little threefold. I mean, there's
Speaker 2: a lot of competition now, like with l yoga in
Speaker 2: a way that wasn't there before. Then you have supply
Speaker 2: chain issues, and then you have overall consumer issues. So
Speaker 2: it's sort of like a trifecta for Lua pants are
Speaker 2: out of favor. No no, no, no, there's more competition, more competition.
Speaker 3: People are looking to other places, really tightening their wallets,
Speaker 3: and of course a little limit that's ticker lu Lu.
Speaker 3: I'm also keeping eyes on Broadcom, so let's tick her avgo.
Speaker 3: We're seeing shares are down as much as about four
Speaker 3: and a half percent today. Now, the company gave a
Speaker 3: lack lesser revenue forecast for this current quarter, and they're
Speaker 3: essentially making people nervous that APAI spending frenzy isn't as
Speaker 3: strong as Wall Street actually did anticipate. And of course
Speaker 3: we know that people have really been looking at AI
Speaker 3: spend and of course Broadcom did miss some of the
Speaker 3: loftiest of expectations here. And this is a company that
Speaker 3: of course applies chips to firms like Alphabet Apple, So
Speaker 3: this is something that's really in focus here today as
Speaker 3: people are really just kind of parsing what's going on
Speaker 3: in the AI space right now.
Speaker 2: To that point, though, you can make an argument that
Speaker 2: Broadcom is very well owned going into this. So how
Speaker 2: much of it was real disappointment versus just expectations so
Speaker 2: high you were just so owned you got to diversify.
Speaker 2: That's really question mark too. All right, let's wrap it
Speaker 2: up with Circle Internet Group.
Speaker 3: Yes, so, of course this is an IPO that happened yesterday,
Speaker 3: and it's we're seeing shares are up as much as
Speaker 3: twenty five percent today climbing for double digits. So this
Speaker 3: is after yesterday on the opening day, we saw shares
Speaker 3: that surged one hundred and sixty eight percent. So we're
Speaker 3: seeing this stock that's really on a tear right now,
Speaker 3: and we're seeing that the issue are more than tripled
Speaker 3: from its IPO price here, and this is one of
Speaker 3: the largest first A pops that we've seen for any
Speaker 3: USIPO that's raised more than one hundred million dollars since
Speaker 3: Sono Group actually came out in twenty twenty one, and
Speaker 3: that was actually a solar tech company that focuses on
Speaker 3: commercial vehicles.
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