Oracle Slips, Broadcom Plunges, Lulu Jumps on CEO Change

On this episode of Stock Movers:

- Oracle (ORCL) shares slipped after Bloomberg reported that some of the company's data centers being built for OpenAI will now be completed in 2028 instead of 2027. The delays stem from shortages of labor and materials, fueling doubts about execution, according to Bloomberg.

- Broadcom (AVGO) shares fall as much as 9.3%, 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.

- Lululemon (LULU) shares jump as much as 14% on Friday, the most intraday in more than eight months, after the yoga-wear retailer said its CEO Calvin McDonald will step down after a seven-year stint, signaling a potential strategy change after sales struggled and the stock fell more than 60% from a 2023 peak.

See omnystudio.com/listener for privacy information.