Bloomberg Audio Studios, podcasts, radio news.
The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's tick look some of the stocks on the move today. We can do that with Isabell Lee, Cross Asset Reporter Foreberviews. Isabelle, what are you looking at? I brought stocks that are all read across the screen. I don't know if that's symbolic of something. Not my mood for sure, But let's start with Broadcom takeris Avgo shares are down back by nearly fifteen percent. Again, it's really the outlook that underwhelmed investors. It just honestly means that the effort that it's put
to gain ground is going slower than anticipated. The AI semiconductor revenue will be sixteen billion in the fiscal third quarter. Analysts projected seventeen point two billion on average, and we have the CEO saying he will sell fifty six billion in AI chips in the year that ends in October. Again, that fell shot of estimate. So we also must remember that they're trying to pivot to AI, but they're against outsized investor competition, which sometimes makes you think should I
even try? But I guess you can't. You should always try it, Yes, exactly, And they're also taking a bigger role in helping finance purchase of chips. But yes, they're down by nearly fifteen percent. That's the biggest job since January twenty twenty five. All right, let's stick with the tech theme because you have another decliner that's down quite large,
quite large. We're talking about Crowdstrack ticker CRWD down by eight percent, and if you just put the ticker in your terminal, you see a slew of upgrades, which is honestly a little I mean, one would think that it's confusing, but I guess they're just seeing it as a more runway from here. So Crowdtrack is a security software company. They reported first quarter result and gave outlook that kind of met estimates, and you see a slew of Skotia banks.
So is Kihana's defense Stevie Cowan raising their price targets from a range of seven hundred to a hundred, and that's coming from some are around four hundred to five hundred. So those are big increases. But even still investors again are disappointed. I guess it's really all about the outlook for here. And stock is down and we're seeing the biggest job since at least February five below five below ticker is five five, so I think they want their
chairs are down fourteen percent. We also see this one. Now we're seeing some downgrades from them, at least when it comes to price target. So the stock is down that this is a discount retailer. They reported first quarter results that beat expectations, and they boosted their full guidance for the year. But again it's the profit guidance for the full year that really spooked investors because they signaled caution because they said that, you know, consumers might not
be as strong. We always talk about the K shape economy, and I think this is the lower end of the K. An interesting tangential note I read from Vincent Delaward of Stone Neck saying that the upper K actually is splintering to really yeah, which was I thought, Oh, but you know, I mean even for people who are quote doing well, they feel the pinch, like when you go to the grocery or when you do things, everything just feels much
more expensive. But yes, we're talking about the lower K. On this one because I think everything here is billow five dollars.
Yeah, especially when your pay is not keeping pace with inflation. Yes, the Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.