Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: All right, I'm Carol Master along with Tim Senovic. You know,
Speaker 3: the markets have closed. We had quite a rally on
Speaker 3: Wall Street. In the meantime, we do want to get
Speaker 3: to some stocks on the move, and for that we're
Speaker 3: going to go back to Emily Grebeo. She's back at
Speaker 3: Bloomberg headquarters in New York City. So Emily, let's start
Speaker 3: with Broadcom because this stock did not have a great day,
Speaker 3: and Hockday is going to get ready to come up
Speaker 3: on the big stage here, so he's gonna have some
Speaker 3: really interesting questions that he's probably going to have to answer.
Speaker 4: That's right, Carol, Not the best day for Hopdaan to
Speaker 4: come and speak. When the stock fell about thirteen percent today,
Speaker 4: of course, we're talking about Broadcom ticker AVGO. It was
Speaker 4: the biggest drop in the stock since January twenty twenty five.
Speaker 4: They gave an outlook that was seen as underwhelmed by
Speaker 4: Wall Street analyst expectations, at least just given the industries
Speaker 4: AI related demand. Analysts noted that AI sales and margins
Speaker 4: for the current quarter were weaker than expected. There also
Speaker 4: could have been again a case of the bar just
Speaker 4: being way too high for a chip company like Broadcom.
Speaker 4: The stock had already risen more than sixty percent off
Speaker 4: of a March low as of the last close here,
Speaker 4: Kunjan Sabani from BI Bloomberg Intelligence said, pointing out that
Speaker 4: a third quarter AI revenue guidance of sixteen billion, I mean,
Speaker 4: these are still huge numbers. It was below consensus, which
Speaker 4: was near seventeen point two billion, So disappointing nonetheless for
Speaker 4: the chip company.
Speaker 1: All Right, so that's on the tech side.
Speaker 2: Again.
Speaker 1: We're gonna hear from Hoktan.
Speaker 3: Just a little later say yoga pants are not tech.
Speaker 1: Well, you know, Lulu Lemon did make a tech acquisition
Speaker 1: years ago, and they bought that company Mirror. They bought
Speaker 1: that company near years ago, but that was like a
Speaker 1: different Lulu Lemon. All this to say Lululemon is next
Speaker 1: on the list.
Speaker 4: Yeah, Lululemon also falling today down about ten percent. Ticker Lulu,
Speaker 4: the athletic clothing retailer, cut its net revenue guidance for
Speaker 4: the full year, miss the average analyst estimate. You hear
Speaker 4: what the interim CEO had to say. More recently, we've
Speaker 4: been navigating headwinds that have led us to adjust our
Speaker 4: outlook for the full year. We're taking additional actions to
Speaker 4: reposition when needed. The shareholders didn't really like the fact
Speaker 4: that again they had to cut that net revenue guidance
Speaker 4: and it also missed the average analyst estimate. So almost
Speaker 4: a double whimy here on the misses.
Speaker 3: All right, so two that have not had a good day,
Speaker 3: tell us about five below. What's going on there?
Speaker 4: I'm bringing you guys all negative stocks. I hate to
Speaker 4: end the show on it.
Speaker 2: Now, what's up with that?
Speaker 4: MLA A pessimistic node. But you know we're always now
Speaker 4: that I'm in credit, I'm always looking for, you know,
Speaker 4: the risks in the market. The credit people are more
Speaker 4: pessimistic than the equity people. Anyway, five below down about
Speaker 4: thirteen percent. Thursday, in the regular trading session, take our five.
Speaker 4: The discount retailer beat first quarter earnings expectations and actually
Speaker 4: raise their full year profit guidance, but they signaled caution
Speaker 4: over the consumer in the months ahead. So if you
Speaker 4: hear what the chief financial officer said, they said that
Speaker 4: actually they don't think consumers felt the full pain of
Speaker 4: the economy because of tax refund season, So they actually
Speaker 4: think that more of that pain is actually going to
Speaker 4: persist now that maybe people got their tax refunds, they
Speaker 4: spent it, they felt a little comfortable. Now they're going
Speaker 4: to feel that pain. So that's what analyst analysts were
Speaker 4: watching here for five below. As we know, five below
Speaker 4: a big read on the consumer. And if I can
Speaker 4: just go back for a second, the Lulu Lemons stock
Speaker 4: moving a lot more in the post market. I think
Speaker 4: I forgot to mention that earlier, but I'll just do
Speaker 4: a quick read here on my terminal, pulling it up
Speaker 4: lulun Lemons stock right now took her Lulu down about
Speaker 4: eleven percent in the post market trade.
Speaker 2: The Stockmover's report from Bloomberg Radio. Check back with us
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