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 take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel. Starting off with the stock of the day that's dragging tech shares lower. Yesterday was Oracle and Valerie. This morning, it's Broadcom. Good morning, Hey.
Good morning, Nathan. Happy Friday. Yes, another down day for the NASDAG it looks like we're headed for on the back of Broadcom earnings and the shares dropping around six percent so far in pre market trade. They gave an outlook that essentially just failed to meet expectations. The market was disappointed to hear that the order backlog is only
seventy three billion dollars over the next six quarters. And to add to that, the CEO during the conference call with analysts failed to give a revenue forst for twenty twenty six, just giving one for Q one of next year. And I think all this combined just highlighted concerns that have been lingering over Broadcom, that of tightening profit margins
for the chip maker. Broadcom does compete with Nvidia in the highly competitive AI chip market space, so Broadcom on a back foot, leading the nasdak lower down six percent.
I meanwhile on the front foot of all stocks. Lulu Lemon for a change, Valerie.
Yeah, lul Lemon is in the green after earnings, up nearly ten percent in pre market trade. They raised their full year outlook and their sales beat expectations in the third quarter, which was driven by growth in international markets. But the juicy announcement came later that their CEO will
be stepping down in January. Now the retailer has yet to find a replacement, but I think the market and analysts investors are kind of excited about the prospect of a new CEO, perhaps a new strategy after a period of sluggish growth for the company. The stock is on some fifty percent year to date, and it's been struggling with sales growth recently. That really did peak after COVID when we were all wearing y yoga clothes at home
in our couch. Since then, really the sales growth through Lemon hasn't been pretty, and I think the market is excited that perhaps the leadership change could shake things up at the at leisure ware retailer.
And some regulatory change, at least reports of it, seems to be met pretty well by investors in UBS.
Over in Switzerland, Ubs hitting a seventeen year high, the highest price for UBS since two thousand and eight, up three and a half percent in trade in Switzerland, and this comes after some reports that Swiss lawmakers have proposed allowing UBS to use at one bonds instead of equity to meet capital requirements. Now, these proposals could give us a way out of this political standoff between UBS and
the Swiss regulators. Remember it was reported earlier that UBS had had talks with Treasury Secorary Scott Bessett looking at moving there headquarters out of Switzerland to other areas which have less onerous legislation. And this comes after a recent effort to tighten bank rolls in Switzerland. The planned capital reforms have really been a big cloud over UBS's share price ever since the Swiss government started discussing this last year.
But it seems like UBS is reacting very positively to this new proposal, which would give it some reprief on the regulation front. They're up three and a half percent.
Speaking of repriefs, there's some reports out there that President Trump is thinking of reclassifying cannabis, maybe giving the regulations a little bit of relief there. What's that doing for cannabis stocks this morning?
They are surging. We have Tilray brands up twenty eight percent, canopy growth of twenty two percent, and various others having double digit gains this morning. And this is on the back of reporting that President Trump is expected to direct his administration to reclassify marijuana as a less onerous drug. The change would classify cannabis and the same bucket as codeine and anabolic steroids rather than where it's currently classified,
which is next to heroin and LSD. Now, the Trump administration has sought to crack down on drug trafficking and taken another a tougher stance on other drugs, one of those being fensanyl, which I guess caused the tariff explosion with China earlier this year.
This 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.