Broadcom Rises on Strong Forecast, Lululemon's CEO Steps Down, Oracle Sinks

On this episode of Stock Movers:

- Broadcom (AVGO) is rising afterhours. The company gave a strong revenue forecast for the current quarter, signaling that demand for AI data center equipment is fueling growth. The company said sales will be about $19.1 billion in the fiscal first quarter, and Chief Executive Officer Hock Tan expects AI semiconductor revenue to double year-over-year to $8.2 billion.

- Lululemon (LULU) shares jumped in postmarket trading. The company raised its full-year outlook, and said Chief Executive Officer Calvin McDonald is stepping down as the company looks to reignite growth amid pressure from competition.

- Oracle (ORCL) sank 10% today. The company forecast 3Q cloud sales growth below analyst estimates, raising concerns that supply constraints are preventing the cloud infrastructure provider from converting its large backlog to actual revenues.

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