Broadcom Slides on Disappointing AI Outlook, CrowdStrike Falls, Petco Drops

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

- Broadcom (AVGO) shares fell in extended trading after the company delivered a disappointing forecast for artificial intelligence chip revenue, signaling it’s efforts to gain ground in the burgeoning industry are going more slowly than anticipated. AI semiconductor revenue will be $16 billion in the fiscal third quarter, which runs through July, the company said in a statement Wednesday. Analysts predicted $17.2 billion on average, according to data compiled by Bloomberg.

- CrowdStrike (CRWD) shares fell in extended trading after the security software company reported its first-quarter results and gave an outlook. While the results beat expectations and the full-year forecast was raised on key metrics, the report wasn’t strong enough to extend the recent strength in the stock.

- Petco (WOOF) saw its shares tumble post-market after the pet health and wellness company’s second-quarter adjusted Ebitda forecast came in below the average analyst estimate.

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