Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Meta (META) are down after the Financial Times reported that the Facebook parent is considering raising tens of billions of dollars in a stock offering as it looks to boost its AI-related capital expenditures. The report cited three people familiar with the plans.
- Lululemon (LULU) shares tumbled to their lowest level in eight years after the upscale yogawear company cut its annual forecast due to deteriorating performance in North America. The shares fell as much as 12% when markets opened Friday in New York, touching their lowest level since May 2018. The stock has now declined more than 40% since the start of the year, making it one of the worst performers in the S&P 500 Index over the period.
- Warner Bros. Discovery (WBD) are trading lower on a Reuters report that a group of US states are planning to file a lawsuit to block Paramount Skydance's acquisition of the media and entertainment company. It was not immediately clear which states would sue, but California Attorney General Rob Bonta told Reuters in an interview on Thursday his office would be making a decision on potential action soon.