WEBVTT - Broadcom Rises on Strong Forecast, Lululemon's CEO Steps Down, Oracle Sinks

0:00:02.520 --> 0:00:07.040
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

0:00:08.560 --> 0:00:12.480
<v Speaker 2>The Stock Movers report, your roundup of companies making moves

0:00:12.480 --> 0:00:15.880
<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

0:00:16.920 --> 0:00:20.040
<v Speaker 1>I'm Carol Masser along with Tim Stanovich. Let's get to

0:00:20.160 --> 0:00:22.520
<v Speaker 1>some stocks on the move with us. Is Bloomberg News

0:00:22.560 --> 0:00:27.440
<v Speaker 1>Equities reporter Jordan Fitzgerald here in studio. Let's talk about

0:00:27.480 --> 0:00:29.800
<v Speaker 1>Broadcom definitely moving in the aftermarket.

0:00:30.240 --> 0:00:34.040
<v Speaker 3>Hi, Carol, Hi, Tim. Broadcom did report results after market

0:00:34.120 --> 0:00:35.960
<v Speaker 3>shares last time I checked when I was back at

0:00:35.960 --> 0:00:39.600
<v Speaker 3>my desk, up about three percent. Fourth quarter revenue beat,

0:00:39.720 --> 0:00:42.720
<v Speaker 3>and they expect another beat in the first quarter. And

0:00:43.520 --> 0:00:46.280
<v Speaker 3>I found this the most interesting. They expect AI semiconductor

0:00:46.320 --> 0:00:49.640
<v Speaker 3>revenue two double year overyear reaching eight point two billion dollars.

0:00:49.880 --> 0:00:50.040
<v Speaker 2>Yeah.

0:00:50.080 --> 0:00:51.839
<v Speaker 1>We talked with an analyst who said that's not a

0:00:51.840 --> 0:00:55.880
<v Speaker 1>new estimate, but said it was interesting to have them reiterated,

0:00:55.960 --> 0:00:57.680
<v Speaker 1>confirm it exactly stick to it.

0:00:57.720 --> 0:01:00.880
<v Speaker 3>So it's a big deal exactly, And especially after earnings

0:01:00.920 --> 0:01:03.600
<v Speaker 3>from Oracle yesterday, people maybe weren't feeling the most confident

0:01:03.720 --> 0:01:05.760
<v Speaker 3>about what else was going to come from the AI

0:01:06.000 --> 0:01:09.200
<v Speaker 3>chip space, and so it was reassuring to see a

0:01:09.280 --> 0:01:10.400
<v Speaker 3>beat from Broadcom.

0:01:10.560 --> 0:01:14.679
<v Speaker 2>Well, not necessarily earnings related, but still the company reporting

0:01:14.720 --> 0:01:18.000
<v Speaker 2>earnings Lululemon ticker Lulu.

0:01:17.920 --> 0:01:22.720
<v Speaker 1>To the episode Wilson. That would have been so smart.

0:01:24.400 --> 0:01:26.040
<v Speaker 2>The transition for maybe Tomorrow.

0:01:26.880 --> 0:01:30.120
<v Speaker 3>That's good. Uh yes, I mean, if you ask me,

0:01:30.160 --> 0:01:34.119
<v Speaker 3>anecdotally private citizen, if I expected Lulu to beat I,

0:01:34.120 --> 0:01:35.959
<v Speaker 3>I do see them doing well. I mean I was

0:01:35.959 --> 0:01:38.200
<v Speaker 3>at the Mullan Black Friday, Short Hills, moll in Short Hills,

0:01:38.240 --> 0:01:41.200
<v Speaker 3>New Jersey. I know you both know it packed.

0:01:41.280 --> 0:01:42.880
<v Speaker 1>Carol's nodding packed.

0:01:43.000 --> 0:01:48.960
<v Speaker 3>Really yeah, I was Lulu packed, Lulu packed, line out

0:01:49.000 --> 0:01:50.840
<v Speaker 3>the door. I ditched my brother there. I was like,

0:01:50.880 --> 0:01:53.040
<v Speaker 3>I'm not doing this, so yeah, I.

0:01:53.040 --> 0:01:54.560
<v Speaker 2>Stop l U l U.

0:01:54.840 --> 0:01:57.120
<v Speaker 1>It's up like twelve.

0:01:56.280 --> 0:01:59.600
<v Speaker 3>Percent last I checked, okay, and I think a lot

0:01:59.640 --> 0:02:01.640
<v Speaker 3>of that does come from the fact that they did

0:02:02.080 --> 0:02:05.040
<v Speaker 3>boost their full year EPs forecast, but also they said

0:02:05.160 --> 0:02:07.760
<v Speaker 3>that they're ousting their CEO, and I think for a

0:02:07.800 --> 0:02:11.600
<v Speaker 3>company that really has stalled over the past few years, yeah,

0:02:11.720 --> 0:02:13.839
<v Speaker 3>that really just like in views it with a burst

0:02:13.880 --> 0:02:16.000
<v Speaker 3>of optimism.

0:02:16.400 --> 0:02:18.160
<v Speaker 2>This is going to be a big story, especially because

0:02:18.160 --> 0:02:20.119
<v Speaker 2>they don't have a successor lined up at this point.

0:02:21.360 --> 0:02:23.160
<v Speaker 3>And I think people will be watching to see who

0:02:23.240 --> 0:02:26.400
<v Speaker 3>they take to fill that slot. If they a competitor

0:02:26.680 --> 0:02:29.600
<v Speaker 3>leaves to help take the helm of lu Lemon. They're

0:02:29.600 --> 0:02:32.200
<v Speaker 3>also buying back a billion dollars worth of shares, so

0:02:32.240 --> 0:02:34.560
<v Speaker 3>they are reinvesting back into the company.

0:02:35.080 --> 0:02:37.240
<v Speaker 2>Okay, finally Oracle Oracle.

0:02:37.320 --> 0:02:41.160
<v Speaker 3>Yes, like I brought up with Broadcom, Oracle did disappoint

0:02:41.320 --> 0:02:44.720
<v Speaker 3>investors last night. Shares closed down about ten percent. They

0:02:44.760 --> 0:02:47.640
<v Speaker 3>had their worst day since January, which not really how

0:02:47.680 --> 0:02:48.760
<v Speaker 3>you want to end the year. But I think it's

0:02:48.760 --> 0:02:52.280
<v Speaker 3>important to remember that. You know, if we flash back

0:02:52.320 --> 0:02:55.640
<v Speaker 3>to last quarter, a lot wright a lot warmer outside

0:02:55.639 --> 0:02:58.840
<v Speaker 3>and also Oracle closed up thirty six percent after earnings,

0:02:59.160 --> 0:03:02.800
<v Speaker 3>Larry Ellison Brief became the richest person on earth, ousting

0:03:02.880 --> 0:03:06.240
<v Speaker 3>Elon Musk from that spot for a moment, and that

0:03:06.360 --> 0:03:07.760
<v Speaker 3>was going to be hard to follow up. And so

0:03:07.919 --> 0:03:10.200
<v Speaker 3>when Oracle came out with its report last night and

0:03:10.440 --> 0:03:13.560
<v Speaker 3>it kind of showed that they're spending on AI is

0:03:13.560 --> 0:03:16.760
<v Speaker 3>not exactly corresponding to an equal boost and cloud revenue,

0:03:16.919 --> 0:03:18.280
<v Speaker 3>that really spooked some investors.

0:03:19.560 --> 0:03:23.560
<v Speaker 2>The stock Moover's report from Bloomberg Radio check back with

0:03:23.639 --> 0:03:26.239
<v Speaker 2>us throughout the day for the latest roundup of companies

0:03:26.320 --> 0:03:29.400
<v Speaker 2>making news on Wall Street and for the latest market

0:03:29.440 --> 0:03:33.919
<v Speaker 2>moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube,

0:03:34.000 --> 0:03:37.480
<v Speaker 2>Bloomberg dot com, and on Applecarplay and Android Auto with

0:03:37.560 --> 0:03:39.040
<v Speaker 2>the Bloomberg Business app.