These Were the Big S&P 500 Movers on Friday
23 hr 51 min ago
Decliners
- Lululemon Athletica (LULU) shares suffered the heaviest losses of any S&P 500 stock, plummeting 14.2% after the maker of yoga pants and other workout attire released its quarterly results. Although Lululemon topped sales and profit estimates for its fiscal fourth quarter, the apparel company issued lower-than-expected guidance for the current quarter and full year. Executives cited a downturn in traffic as customers limit spending in the uncertain economic environment. JPMorgan analysts cut their price target on the stock, noting that tariffs and currency exchange effects could weigh on profit margins.
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- Warner Bros. Discovery (WBD) shares sank 5.8% following a report in The New York Times about CEO David Zaslav’s struggles to revitalize the entertainment giant’s film studio, noting that ticket sales for its movies remain 40% below 2019 levels. The entertainment giant also announced a reorganization of its streaming content acquisition teams as it aims to align its strategy for its two streaming services, Max and Discovery+, across regions.
- Shares of Dollar Tree (DLTR) slipped 5.5%, giving back a portion of the strong gains posted since the discount retailer announced earlier this week that it would sell its Family Dollar brand for $1 billion. Although analysts indicated that Dollar Tree is in a good position to…
