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Broadcom Slides, Lululemon Gains, Citigroup Rises on Boeing Call
Description
On this episode of Stock Movers:
- Broadcom (AVGO) shares slide the most intraday since April 10, as investors scrutinize the chipmaker’s $73b of AI backlog to be delivered in the next 18 months. That figure fell short of more bullish expectations, but the company said it was a “minimum” number as orders will be topped up over time.
- Lululemon (LULU) shares surge after the company boosted its full-year outlook and announced that its chief executive officer would step down. The company is searching for a replacement for CEO Calvin McDonald, who will depart the top post at the end of January, and the decision to find new leadership is seen as "overdue" by Jefferies analyst Randal Konik.
- Citigroup (C) shares rise after the firm says it's bullish on the planemaker. The firm said quote "We rate BA Buy with a $265 YE26 PT. New Management is the Megatrend. We are as bullish on new management as an analyst could reasonably be. Strong top down and bottom up tailwinds support our view."
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