Stock Movers

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Lululemon (LULU) shares are diving as its China business is showing signs of strain, with revenue in mainland China falling 2% in the second quarter after adjusting for currency fluctuations.

- Tesla (TSLA) shares are lower on news it formally rolled out the Cybercab for robotaxi service, a long-anticipated step in Elon Musk’s effort to push the company away from its roots as an auto manufacturer. The US National Highway Traffic Safety Administration opened a probe into the process and technical data on which Tesla relied when it self-certified the vehicles as compliant with federal safety standards.

- Robinhood (HOOD) is down as AMC Entertainment boss Adam Aron criticized Robinhood Markets Inc. after the platform launched a tokenized version of the theater chain’s shares.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Lululemon (LULU) shares are diving as its China business is showing signs of strain, with revenue in mainland China falling 2% in the second quarter after adjusting for currency fluctuations.
- Adobe (ADBE) is lower after it named Anil Chakravarthy as its next chief executive officer, with Chakravarthy moving into the post on Dec. 1. The selection of Chakravarthy comes as Adobe faces increasing questions about whether it will be toppled from its post in the age of AI, with generative AI making it easier to produce visual media without Adobe’s expensive products.
- Samsara (IOT) is climbing as it boosted its total revenue guidance for the full year; the guidance beat the average analyst estimate.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Volkswagen shares gain as much as 9.7%, the biggest intraday move since March 2023, after the carmaker’s supervisory board backed a sweeping restructuring that includes 50,000 additional job cuts. Analysts say the plan is necessary for the company to remain competitive, while cautioning that execution will be key.
- Vodafone gains as much as 2.3% after Goldman Sachs upgraded its view on the company to buy from sell in a wider review of the European digital infrastructure and telecoms sector. It also cuts Cellnex Telecom to sell from neutral, knocking the stock as much as 2.3% lower.
- UniCredit said Chief Executive Officer Andrea Orcel held talks about Commerzbank with a regional government leader in Germany, as the Italian lender moves closer to taking control of the rival. Shares fall as much as 2%.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Volkswagen shares gain as much as 9.7%, the biggest intraday move since March 2023, after the carmaker’s supervisory board backed a sweeping restructuring that includes 50,000 additional job cuts. Analysts say the plan is necessary for the company to remain competitive, while cautioning that execution will be key.
- Morgan Stanley analysts increase their price targets on truck stocks under their coverage amid continued strong global demand, but say the sector’s rally this year means the risk-reward is “considerably less attractive.” Daimler Truck is downgraded to equal-weight from overweight, removing their only buy-equivalent rating.
- Navitas Petroleum and Rockhopper Exploration are trading lower today as tensions around the Falklands Islands rise and Argentina targets their Sea Lion project. The South American country said it will speed up sanctions against companies working around the islands without its approval.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Softbank is celebrating OpenAI's new model, which is also boosting Kioxia and SK Hynix with it.
- China's good services PMI is lifting big e-commerce names such as Alibaba and Meituan.
- Sung Hung Kai and other Hong Kong property names are getting a lift from Fed Governor Christopher Waller's commentary on rates.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Lululemon (LULU) lowered its full-year outlook for a second straight quarter, signaling deep challenges for incoming Chief Executive Officer Heidi O’Neill. Sales are now projected to be in a range of $10.35 billion to $10.5 billion in the current fiscal year that ends in early 2027. That’s down from June’s annual forecast, which was itself reduced from the previous view. The company also trimmed its outlook for earnings per share. The stock fell 18% at 6:03 p.m. in extended trading in New York. Lululemon shares have declined more than 40% this year through Thursday’s close, and their value is less than a quarter of their peak in late 2023.

- Adobe (ADBE) named Anil Chakravarthy, the leader of its marketing and analytics software business, as its next chief executive officer, thrusting the company veteran into a challenging competition with artificial intelligence upstarts. The shares declined in extended trading after the CEO transition and Wadhwani’s departure were announced. Investors have steadily soured on the company over AI disruption fears, with its stock down 52% since the beginning of 2024.

- DocuSign (DOCU) shares rallied in extended trading, after the e-signature software company reported second-quarter results that beat expectations and raised its full-year forecast on key metrics.

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On this episode of Stock Movers:

- Snowflake's (SNOW) shares jumped after the company raised its outlook for annual sales and touted rapid adoption of its AI-assisted coding tool. Product revenue in the year ending in January will be about $6.07 billion, beating the analysts’ average projection of $5.86 billion.

- Tyson Foods (TSN) plunged after the largest US meatpacker cut its full-year earnings forecast for the second time in a month because of increasing upheaval in the beef industry. The company's revised outlook shows annual adjusted operating income of $1.85 billion to $2.05 billion, driven by "significant margin compression" amid a severe cattle shortage. 

- Campbell's (CPB) shares slide after the food company reported a worse-than-expected decline in 4Q organic sales, and gave a bleak forecast for 1Q and fiscal 2027. The company expects elevated cost inflation, and continued weakness in its snacks division.

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On this episode of Stock Movers:

- Nvidia (NVDA) shares rise. Nvidia Corp. has agreed to acquire artificial intelligence startup Hugging Face in a transaction valued at about $13 billion. The chipmaker giant said it will keep Hugging Face’s platform open and consistent with the startup’s existing practices. Nvidia Chief Executive Officer Jensen Huang is committed to helping foster so-called open source models to prevent the technology of a few large companies from dominating AI.

- Broadcom (AVGO) shares drop. A two-year forecast for AI chip sales failed to impress investors, a sign it’s still in the early stages of challenging Nvidia Corp.’s dominance. The company is seeing pressure on its gross margins and is increasingly reliant on Anthropic PBC and OpenAI as customers, who have other chip options available, including Nvidia and Advanced Micro Devices Inc. Broadcom’s custom AI semiconductor business has benefited from companies looking for ways to supplement their Nvidia-made AI chips with additional supply and variation, with chatbot makers Anthropic and OpenAI emerging as especially important clients.

- Campbell's (CPB) shares fell after the company posted its fourth straight quarterly sales decline and cut its dividend. The company unveiled a cost-savings plan that calls for $500 million in savings by fiscal 2030 to preserve margins dented by rising supply chain and tariff costs. Campbell’s expects sales to fall between 2% and 4% in fiscal 2027 and earnings per share to slide between 17% and 24% this fiscal year.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:

- Snowflake (SNOW) shares jumped. The company raised its outlook for annual sales and touted rapid adoption of its AI-assisted coding tool. Product revenue in the year ending in January will be about $6.07 billion, beating the analysts’ average projection of $5.86 billion. More than 2,000 customer accounts started using the coding assistant called CoCo during the quarter, bringing the total to 9,100.

- Hewlett Packard Enterprise (HPE) shares fell after the company reported increasing sales that didn’t meet high expectations from investors. Chief Executive Officer Antonio Neri said sales are being held back by a continued lack of components, and the company is collaborating with partners to secure additional multiyear supply agreements. HPE boosted its revenue outlook for the current fiscal year and next, with revenue expected to jump 34% to 37% in the year ending in October.

- Ultragenyx (RARE UW) shares drop. The biotech said apazunersen (GTX-102), its experimental drug to treat a rare genetic disorder, failed to meet its primary endpoint of change from baseline in Bayley-4 cognitive raw score in the Phase 3 Aspire study in Angelman syndrome patients.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nvidia (NDVA) shares are a tick higher this morning as it has agreed to acquire artificial intelligence startup Hugging Face in a transaction valued at about $13 billion.
- Snowflake (SNOW) jumped this morning after it raised its outlook for annual sales, topping analysts' estimates, and reported rapid adoption of its AI-assisted coding tool. The company said more than 2,000 customer accounts started using its coding assistant called CoCo during the quarter, bringing the total to 9,100.
- Meta (META) shares are higher as the social media giant released its most powerful artificial intelligence model yet. Meanwhile, other technology and growth stocks also advanced as oil prices and Treasury yields are showing signs of stabilization.

See omnystudio.com/listener for privacy information.