Broadcom Slides; Lululemon Jumps; UBS Hits 17-Year High
On this episode of Stock Movers:- Shares of Broadcom (AVGO) slide in premarket trading after its sales outlook for the red-hot market failed to meet investors’ lofty expectations. The shares fell about 5% in premarket trading on Friday, following unsettling commentary from Chief Executive Officer Hock Tan on a conference call with analysts. He said the company has a backlog of $73 billion in AI product orders that will be shipped over the next six quarters — a number that disappointed some investors. But Tan sought to clarify that the figure was a “minimum.” - Shares…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.