WEBVTT -  Lululemon Tumbles, Broadcom Falls, Circle Internet Group Rises After IPO

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<v Speaker 2>want to get some look at some of the stocks

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<v Speaker 2>in the move today, want to get right to Bloomberg's Nora, Melinda.

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<v Speaker 2>Let's kick it off. What are we kicking it off with?

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<v Speaker 3>Actually, Lululemon, I mean, that's what we're all talking about today.

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<v Speaker 3>Of course, this is the worst performing stock buyer percentage

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<v Speaker 3>basis in the S and P five hundred this Friday,

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<v Speaker 3>and this stuff of a company posted a second quarter

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<v Speaker 3>of disappointing results. And of course this has really been

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<v Speaker 3>fueled by TEARFF concerns as people are really trying to

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<v Speaker 3>see how that will affect retailers. But Lulu Linman has

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<v Speaker 3>been struggling with than this, in particular, their guidance currently

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<v Speaker 3>assumes thirty percent tariffs on China and ten percent tariffs

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<v Speaker 3>on other countries. But it really is their shift away

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<v Speaker 3>from yoga pants that has really been derailing a lot

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<v Speaker 3>of their plans and how people are really perceiving the

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<v Speaker 3>company right now. I was looking at a Jeffrey's note

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<v Speaker 3>that said Lulu's worsening guidance feels like death by a

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<v Speaker 3>thousand cuts. I found that quite intense there. But of

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<v Speaker 3>course shares are falling for their worst day since the

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<v Speaker 3>pandemic twenty twenty.

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<v Speaker 2>It's just about pandemics, like a people stock up on

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<v Speaker 2>their lululemits because they were working out from Maybe that's

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<v Speaker 2>what happened. But it's a little threefold. I mean, there's

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<v Speaker 2>a lot of competition now, like with l yoga in

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<v Speaker 2>a way that wasn't there before. Then you have supply

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<v Speaker 2>chain issues, and then you have overall consumer issues. So

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<v Speaker 2>it's sort of like a trifecta for Lua pants are

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<v Speaker 2>out of favor. No no, no, no, there's more competition, more competition.

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<v Speaker 3>People are looking to other places, really tightening their wallets,

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<v Speaker 3>and of course a little limit that's ticker lu Lu.

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<v Speaker 3>I'm also keeping eyes on Broadcom, so let's tick her avgo.

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<v Speaker 3>We're seeing shares are down as much as about four

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<v Speaker 3>and a half percent today. Now, the company gave a

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<v Speaker 3>lack lesser revenue forecast for this current quarter, and they're

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<v Speaker 3>essentially making people nervous that APAI spending frenzy isn't as

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<v Speaker 3>strong as Wall Street actually did anticipate. And of course

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<v Speaker 3>we know that people have really been looking at AI

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<v Speaker 3>spend and of course Broadcom did miss some of the

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<v Speaker 3>loftiest of expectations here. And this is a company that

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<v Speaker 3>of course applies chips to firms like Alphabet Apple, So

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<v Speaker 3>this is something that's really in focus here today as

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<v Speaker 3>people are really just kind of parsing what's going on

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<v Speaker 3>in the AI space right now.

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<v Speaker 2>To that point, though, you can make an argument that

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<v Speaker 2>Broadcom is very well owned going into this. So how

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<v Speaker 2>much of it was real disappointment versus just expectations so

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<v Speaker 2>high you were just so owned you got to diversify.

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<v Speaker 2>That's really question mark too. All right, let's wrap it

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<v Speaker 2>up with Circle Internet Group.

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<v Speaker 3>Yes, so, of course this is an IPO that happened yesterday,

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<v Speaker 3>and it's we're seeing shares are up as much as

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<v Speaker 3>twenty five percent today climbing for double digits. So this

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<v Speaker 3>is after yesterday on the opening day, we saw shares

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<v Speaker 3>that surged one hundred and sixty eight percent. So we're

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<v Speaker 3>seeing this stock that's really on a tear right now,

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<v Speaker 3>and we're seeing that the issue are more than tripled

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<v Speaker 3>from its IPO price here, and this is one of

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<v Speaker 3>the largest first A pops that we've seen for any

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<v Speaker 3>USIPO that's raised more than one hundred million dollars since

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<v Speaker 3>Sono Group actually came out in twenty twenty one, and

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<v Speaker 3>that was actually a solar tech company that focuses on

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<v Speaker 3>commercial vehicles.

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