On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
- Tesla (TSLA) proposed a new compensation agreement for Chief Executive Officer Elon Musk potentially worth around $1 trillion, a massive package without precedent in corporate America. The long-awaited proposal, designed to incentivize Musk to lead Tesla for years to come, sets a series of ambitious benchmarks he must meet to earn the full payout, including expanding Tesla’s nascent robotaxi business and growing the company’s market value to at least $8.5 trillion from about $1.1 trillion today. The plan spans 10 years. Shares of Tesla rallied.
- Broadcom (AVGO)s helping OpenAI design and produce an artificial intelligence accelerator that will ship starting in 2026, getting into a lucrative sphere dominated by Nvidia. The news sent Broadcom shares on their biggest intraday rally since April. Broadcom’s stock surged as much as 16% in New York trading on Friday, adding more than $200 billion to the company’s market value. Nvidia’s shares slipped as much as 4.4%, their biggest intraday decline since May.
- Lululemon (LULU) was hit with at least seven analyst downgrades in a single day as analysts say the upscale clothing retailer needs a “strategic pivot.” Shares hit their lowest level since the onset of the pandemic after the company slashed its outlook for both the third quarter and the full year, hurt by weak demand and a stricter trade regime under the Trump administration. The stock fell as much as 20%, touching the level it last traded in March 2020.
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