Stock Movers of the Week: Broadcom Slumps, Tesla Rebounds and Wolfspeed Struggles
On this episode of Stock Movers: - Stocks tumbled in the second worst day of the year, with tech companies like Broadcom (AVGO) closing lower. The stock was down over 30 percent since its December earnings report. - Tesla (TSLA) rose against the grain during the week as traders digested President Donald Trump’s announcement of auto tariffs. Even small moves in Tesla’s stock have a huge market impact because the company is so much bigger than other automakers. Tesla’s 1.7% rise on Thursday brought the market capitalization of the company up $14.3 billion. Shares of General Motors Co. and Ford Motor Co. moved more to the downside, while their combined value only dropped by around $4.6 billion. - Wolfspeed (WOLF) is struggling to reach a deal with investors to refinance its $575 million convertible bonds due next year. The Durham, North Carolina-based chipmaker has been working with JPMorgan Chase & Co. on the refinancing effort, according to people with knowledge of the matter, who asked not to be identified discussing private talks. Wolfspeed shares closed at $2.59 Friday after sinking nearly 52%, its largest-ever one-day drop. See omnystudio.com/listener for privacy information.
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6:01
Ralph Lauren CEO Sells Shares, Oxford Downgraded, Argan Beats
On this episode of Stock Movers: - Ralph Lauren Corp's (RL) shares slid after President and CEO Patrice Louvet reported a series of insider stock transactions to the US Securities and Exchange Commission. Louvet sold 14,800 shares in Ralph Lauren for $3,441,000.- Oxford Industries shares were down as much as 12%, after the apparel company gave an outlook that is weaker than expected, prompting an analyst downgrade.-Argan Inc. shares climb 13% postmarket after the builder of power plants posted 4Q revenue that climbed 41% from the year-ago period. 4Q revenue grew amid heightened quarterly construction activities at several projects, including the Trumbull Energy Center, a gas-fired power plant under construction near Lordstown, OhioSee omnystudio.com/listener for privacy information.
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3:33
Lululemon Plunges, Nippon Steel Slumps, US Steel Gains
On this episode of Stock Movers: - Lululemon Athletica Inc. shares dropped after the yogawear brand delivered a disappointing outlook for the year and voiced concerns about consumer spending in the US.- Nippon Steel Corp. shares slumped on a report that the company is considering investing as much as $7 billion to upgrade United States Steel Corp. facilities if it wins approval for its proposed $14.1 billion takeover. -Argan Inc. shares climb 13% postmarket after the builder of power plants posted 4Q revenue that climbed 41% from the year-ago period.See omnystudio.com/listener for privacy information.
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6:41
Outlook Sends Lulu Lower, US Steel Rises on Deal Hopes, Rocket Lab Surges
On this episode of Stock Movers: - Lululemon (LULU) declined this morning after the yogawear brand delivered a disappointing outlook for the year and voiced concerns about consumer spending in the US. CEO Calvin McDonald said that US shoppers are keeping their wallets tight and visiting stores less often amid geopolitical strife and high inflation.- US Steel (X) shares surged this morning as a report emerged suggesting the Nippon Steel merger deal could be saved. Nippon Steel could invest, but not takeover, US Steel. Unions have opposed the deal--first proposed back in 2023--as did former President Biden and President Donald Trump.- Rocket Lab (RKLB) surged in premarket trading after the space company was selected by the US Space Force for a $5.6 billion program, which Citi analysts said was positive for the stock. Rocket Lab was selected by the US Space Force to compete for the Department of Defense’s missions for its National Security Space Launch (NSSL) Phase 3 Lane 1 program, the company said in a statementSee omnystudio.com/listener for privacy information.
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4:43
US Steel Surges on Deal Revival, Meta and Apple Drop on Incoming Fine
On this episode of Stock Movers: - Apple (APPL) shares are lower this morning in anticipation of minimal fines set to be imposed by the EU Monday on Apple and Meta under its Digital Markets Act. It seeks to avoid escalating tensions with President Donald Trump, the Financial Times reports, citing unidentified people familiar with the decisions. Apple is expected to be fined and ordered to revise its App Store rules, according to a person familiar. -Meta (META) stocks are also lower amid incoming fines from the EU coming Monday. The Financial Times reports that Meta will also be fined and be ordered to change its “pay or consent” model.- -US Steel (X) shares surged this morning as a report emerged suggesting the Nippon Steel merger deal could be saved. Nippon Steel could invest, but not takeover, US Steel. Unions have opposed the deal--first proposed back in 2023--as did former President Biden and President Donald Trump. - Lululemon (LULU) declined this morning after the yogawear brand delivered a disappointing outlook for the year and voiced concerns about consumer spending in the US. CEO Calvin McDonald said that US shoppers are keeping their wallets tight and visiting stores less often amid geopolitical strife and high inflation.See omnystudio.com/listener for privacy information.
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