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.
I'm Alexis Christophers. Let's take a look now at some stocks on the move. Joining me for that is Carmen Reinikey Markets reporter at Bloomberg. So, Carmen, you brought three stocks along with you today. Let's start with a chip giant involved in the AI boom. That would be Broadcom.
Yeah, so huge earning story here today. This is ticker AVGO for Broadcom shares our down about six percent right now and after hours trading. Basically, what happened here is that the outlook failed to hit the high standard that investors had for this company, especially after the stock has had such an amazing rally over the last three months. It closed near a record high today when stay and was up more than I think more than sixty percent from sort of a March thirtieth trough. So selling off
a little bit in after hours. The call is starting here in a few minutes, so we'll we'll be watching for that. It's actually now down almost ten percent on these earnings.
Now I mean Broadcom though, has really been on a tear. As you said, it added about two hundred and seventy billion dollars in market value over the last few trading sessions ahead of the earnings report. So so this drop that we're seeing in the after hours, while it might see my popping at first, really is a kind of a you know, a drop in the bucket compared to
how high Broadcom has has rallied recently. I want to move on to Oh, crowd Strike also out after the closing bell with an earnings report that I guess didn't really sit too well with investors.
Yeah. So similarly, crowd Strike and some of its other cybersecurity piers have had a really extended rally up into these earnings reports. So this is ticker see r WD. It's down ten percent in after hours trading right now, and its projection for second quarter revenue is also sort
of failing to impress investors here. They said that the revenue will be between one hundred and forty three billion and one hundred and forty four billion in the second quarter, which is roughly in line with what analysts were expecting, but the expectations are so high for these companies that have had these rallies that we know that it's you can't just meet the expectations. You can't even just beat. You have to really beat usually to get investors excited at this point.
Yeah, you have to really beat. And speaking of beating or not, your next stock has one of my favorite ticker symbols of all time. Woof right is for Petco. What did they have to say after the close?
Yeah, so Petco is down about twelve percent. It also had earnings today fell a little bit short of investor expectations, especially on its second quarter profit forecast. So interesting thing also, I think to point out about Petco, the stock had been up about eight percent this year through today's close, and if it stays trading at the current level, it's set to pretty much wipe out that entire year to
date gain a lot of it. We've seen some choppiness in a lot of these consumer stocks, especially ones that are more discretionary, and so wouldn't be surprising, I guess, to see more volatility ahead here.
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