On this episode of Stock Movers:
- 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.
- 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.
- Tilray Brands (TLRY) and stocks of cannabis producers soar as President Donald Trump is expected to direct his administration to move to reclassify marijuana as a less dangerous drug.
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