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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 what's happening in the marketplace today with stock Movers. We do that today Bloomberg's Emily, Emily, what are you looking at?
Okay, So I'm looking at shares of Lululemon ticker Lulu. Lulu up thirteen percent right now, the highest level since July. After the company boosted its full year outlook and they said that the CEO, Calvin McDonald's is going to be stepping down after a period of sluggish growth. So the stock had been down more than fifty percent through Thursday's close. We got the news late yesterday about the CEO stepping down,
and now it's boosting the shares. And if you look at like a chart here of the comp store sales growth for Lululemon, it's been declining for at least the last two year years. There's been rising competition in the ath leisure space. It's not just Lululemon anymore. Which you know those leggings are very expensive.
Yeah, there are a lot of other guys Lulu people.
No, not necessarily.
I will say this is not a you know, this is not a tout for Lulu. But I will say all of the Lulu products that I have hold up really.
Well, That's what I hear.
Yeah, so then you don't have to buy anymore. So maybe that's why they're not selling as many leggings because the probably you pay for it. Yeah, but I mean there's just a lot of other ath leisure companies out there. Athleta which their parent company is gap Alo, Worry Amazon.
I mean, we are there. I'm gonna say, like a year ago, Derek Jeter came in here because he's doing a partnership on the athleisure space with a guy from the Untucked Shirt dude, And I go to Derek afterwards, why are you doing this?
Man?
It's so competitive? Yeah, you're going to go up against Nike And are you kidding me?
I don't know.
He's smarter than I. I guess we'll see how that goes for us.
Okay, So I'm also watching shares of broadcom ticker AVGO. It's down nine percent, the biggest decline since April. Lisa Miteo was giving us the rundown, but I'll go through it again. The chip company's sales outlook for AI computing
revenue missed expectations. The stock had run up quite a bit, so the expectations were quite high going into the earnings, and their CEO Howketon said just yesterday on a conference call with analysts, the company has a backlog of seventy three billion dollars in AI product orders that will be shipped over the next six quarters. That doesn't sound like a bad thing, but the number disappointed some investors here
that it just it wasn't quite enough. And people are very sensitive right now when it comes to companies are spending on AI, are they actually generating a profit and how quickly can they generate that profit? So anything that misses expectations, it feels like it really brings us stock down.
Yeah, sounds like Brockham was really just the victim of really really high expectations. Even if it did well, it's not good enough. Emily one where you look at cannabis stocks today which are soaring high.
Yes, they are soaring much higher. Till Ray Brands is one of those cannabis companies ticker tl r Y. It was up as much as forty four percent on an intra day basis. Now it's up about twenty six percent. We have reporting out today that Trump is expected to direct his administration to reclassify marijuana as a less dangerous drug. This is big news because cannabis is currently label to
Schedule one drug up there with heroin and LSD. This means that it's categorized as having no medical use, and so Trump is weighing pushing it back to reclassifying it as a Schedule too drug, which is seen in the industry as something that would boost sales and be good. But there was kind of news of this back in August that Trump said he was going to reclassify it, and there was a big move in the stocks, and
then it kind of reversed. So we'll see if he actually makes this move in the stock gains.
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