Stock Movers

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Meta (META) are down after the Financial Times reported that the Facebook parent is considering raising tens of billions of dollars in a stock offering as it looks to boost its AI-related capital expenditures. The report cited three people familiar with the plans.
- Lululemon (LULU) shares tumbled to their lowest level in eight years after the upscale yogawear company cut its annual forecast due to deteriorating performance in North America. The shares fell as much as 12% when markets opened Friday in New York, touching their lowest level since May 2018. The stock has now declined more than 40% since the start of the year, making it one of the worst performers in the S&P 500 Index over the period.
- Warner Bros. Discovery (WBD) are trading lower on a Reuters report that a group of US states are planning to file a lawsuit to block Paramount Skydance's acquisition of the media and entertainment company. It was not immediately clear which states would sue, but California Attorney General Rob Bonta told Reuters in an interview on Thursday his office would be making a decision on potential action soon.

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On this episode of Stock Movers:
- Lululemon (LULU) shares fell to their lowest level in eight years after the company cut its annual forecast due to deteriorating performance in North America. The company now sees revenue in a range of $11 billion to $11.15 billion for the fiscal year, below the average of estimates compiled by Bloomberg.
- Docusign (DOCU) shares fall after the company forecast revenue for the second quarter of $865 million to $869 million, near an estimate of $866 million. Analysts notes that its still a wait-and-see story as the company ramps Intelligent Agreement Management (IAM), its AI-powered platform for contracts.
- Coinbase (COIN) shares drop after Baird names the crypto exchange a new bearish pick due to weak trading volumes. Analyst David Koning sees lower trading volumes and the US crypto market legislation likely not passing until after mid-term elections weighing on Coinbase’s valuation.

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On this episode of Stock Movers:
-Lululemon (LULU) shares fell to their lowest level in eight years after the company cut its annual forecast due to deteriorating performance in North America. The company now sees revenue in a range of $11 billion to $11.15 billion for the fiscal year, below the average of estimates compiled by Bloomberg.
-Chipotle Mexican Grill (CMG) shares rise after JPMorgan upgrades to overweight from neutral citing a “rare valuation opportunity” for the stock. Analyst John Ivankoe says “the stock’s multiple has now fully re-rated to reflect a more moderate - yet still well above average - growth profile”
-Cooper (COO) shares gain after the contact-lens maker posted second quarter sales and adjusted profit that topped estimates. The company also gave updates about its ongoing strategic review that analysts found encouraging.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Lululemon (LULU) shares are lower after it lowered its annual forecast due to deteriorating performance in North America.
- DocuSign (DOCU) shares are lower after reporting earnings. While it reported a rise in 1st quarter profit, the annual recurring revenue rate was unchanged and investors may be looking for a return to double digit growth.
- Coinbase (COIN) shares are lower as Bitcoin slides below $62,000 this morning. Ether is also declining.

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) shares are lower after it lowered its annual forecast due to deteriorating performance in North America.
- DocuSign (DOCU) shares are lower after reporting earnings.
- Merlin (MRLN) shares jumped after the aerospace and defense technology company announced the successful completion of the Critical Design Review for its C-130J autonomy program with the US Special Operations Command.

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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Bally’s Intralot has reached an agreement to buy Evoke, the companies announce in a statement.
- Technology stocks including ASML are declining on concerns that the AI spending boom may come with growing margin pressure.
- Infineon shares slide after being downgraded by analysts at MP Capital Markets because the recent strength in the semiconductor stock leaves “limited upside” on the table.

See omnystudio.com/listener for privacy information.

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Bally’s Intralot has reached an agreement to buy Evoke, the companies announce in a statement.
- Technology stocks including ASML are declining on concerns that the AI spending boom may come with growing margin pressure.
- Raspberry Pi shares rise as much as 14%, extending their run and hitting a new all-time high after the British maker of small, low-cost computers said earnings this year will be well ahead of expectations, pointing to robust demand

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

On this episode of Stock Movers:

- Broadcom (AVGO) shares plunged by the most in more than 16 months after the company’s forecast for sales of its artificial intelligence chips disappointed investors. Though the company is making headway in pivoting to AI customers, it’s up against outsized investor expectations. Broadcom had added roughly $270 billion in market value over the five trading sessions before the earnings report, fueled by AI optimism. 

- Lululemon (LULU) lowered its annual forecast, underscoring the challenge that incoming Chief Executive Officer Heidi O’Neill faces in revitalizing the upscale yogawear brand. The company now sees revenue for the full fiscal year in a range of $11 billion to $11.15 billion, lower than the previous guidance and below the average of estimates compiled by Bloomberg. Lululemon’s net revenue outlook for the current quarter was also below expectations. Shares slipped in aftermarket trading.

- Five Below (FIVE) shares fell after the discount retailer beat first-quarter earnings expectations and raised its full-year profit guidance but signaled caution over the consumer in the months ahead. “We’re looking at the world that our customers are living in: with rising fuel costs, with very sticky inflation, with a somewhat—soft labor market. And we think a piece of that pain that they are feeling wasn’t felt in the first quarter purely because of tax proceeds,” Chief Financial Officer Daniel Sullivan said in an earnings call. 

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On this episode of Stock Movers:
- Broadcom (AVGO) shares fall after the chipmaker gave an outlook that was seen as underwhelming given the industry’s AI-related demand.
- CrowdStrike (CRWD) shares fall after the security software company reported first-quarter results beat, which wasn’t strong enough to lift the stock that has more than doubled from a March low.
- Five Below (FIVE) shares fall after the retailer reported results, and while the quarter was a “standout,” the growth rate might be peaking, according to Jefferies.

See omnystudio.com/listener for privacy information.

On this episode of Stock Movers:
-Broadcom (AVGO) shares plunged after the company’s forecast for sales of its artificial intelligence chips disappointed investors. AI semiconductor revenue will be $16 billion in the fiscal third quarter, falling well below analysts’ expectations of $17.2 billion on average.
-Petco (WOOF) shares fell as much as 18% in postmarket trading after the company's second-quarter forecast fell below consensus estimates. The company reported adjusted Ebitda of $97.3 million and net sales rose 0.2% to $1.5 billion, the first year-over-year sales growth after five consecutive quarters of contraction.
-UnitedHealth (UNH) shares rise. BofA Global Research upgraded the health insurer to buy from neutral, citing improving medical cost trends.

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