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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Tim Stanveek along with Carol Masser. Let's take a look at some stocks on the move today. With us is a Bloomberg News equities reporter, Avalon Parnell with today's stock movers. Avalon, I'm guessing you have a few decliners.
Today, I sure do. We can go ahead and start off with Meta. That's probably the most frequently named right now. Meta Platforms as ticker Meta currently falling about five point four percent, most since April, and that's after to Financial Times reports that Meta is considering raising tens of billions of dollars in a stock offering to boost a tech
company's AI infrastructure. Obviously, this is still in the early stages and Meta has not yet hired banks to issue the stock, so it's not guaranteed that they will actually pursue this plan, but really interesting to see how big tech companies are really pursuing this AI situation. Alphabet actually at the start of the week also announcing plans for an eighty billion dollar raise to fund its AI spending and now potentially Meta may be following in their footsteps.
And I guess some would say, though, Listen, they have so much cash on their balance sheet that they have the ability to do this equity raise, right, I mean, if they had to, they can certainly tap into the cash coffers. There's some of that at play. But nonetheless, the amount of these offerings that are being entered into, you know, are pretty eye opening. Let's go on to Lululemon. We've been talking about this name a lot in the last twenty four to forty eight hours.
Yes, Lululemon dealt another blow today. That's ticker Lulu currently down about eight point two percent to hit the lowest injured day level since twenty eighteen, and that's after apleisure maker slashed its annual forecast amid weeeker sales trends. The print led several analysts on a Street to go ahead and downgrade the stock and also cut price targets. BNP perry Baugh writing that lou Lemon's product launches just aren't working and that the comparative sales were negative, which makes
it tough to remain positive about the stock. Worth noting though that Lululemon will be bringing in a new CEO beginning in September, so will be interesting to see how she deals with this situation. Since it's looking like a pretty challenging setup.
She's got her work cut out for her in just a few months when she takes the helm of that company. Okay, you have meta platforms, you have Lulu.
What else?
Warner Brothers Discovery ticker WBD currently sliding about three point five percent most inter day since November, and that's after Reuter's reports that several US states are considering and preparing
a lawsuit to block Paramount's acquisition of Warner Bros. While it does remain unclear which states would actually want to participate in this, it is worth noting that Reuters did have an interview earlier this week with California's Attorney General, and that person did say that his office would make a decision on whether they would pursue potential action.
This stock mover's 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.