As the trading day comes to a close, Yahoo Finance Live breaks down the top tickers of the day, including Lululemon, SentinelOne, and AI stocks such as Nvidia and C3.ai.
- Let's take a look at some of the big movers of the week. First up we, got to talk about Lululemon getting a big lift today, shares closing up just over 11% higher after blowing past The Street's expectations in its latest quarter. The retailer also raising its full year net revenue outlook. This coming as welcome news to investors amid a very choppy consumer environment right now for retailers here.
Diane, when you take a look at the results here from Lululemon, a lot of that strength coming from overseas and China where Lululemon has a lot of runway left to go.
- Yeah, I mean, there was a 79% surge in China. There was even a surge here in North America. I mean, up 17% here in North America. I was a little bit surprised by that. I used to be a big Lululemon fan. I can't remember the last time I've been to Lululemon. But clearly, I'm not the demo right now.
- What have you replaced it with?
- I know. Nothing. I mean, I have a good collection of leggings. I mean, Lulu lasts for a while. So I mean, they did well. They're being rewarded for that growth there, that China story once again there. On the flip side, though, we have Sentinelone no one shares sinking in today's trading session down more than 30%. This, after the cybersecurity company slashed its full year revenue outlook. The company citing continued macroeconomic pressures impacting deal sizes, sales cycles, and pipeline conversion rates. So really getting roughed up in today's market. I mean, it's clearly a different story than the broader market that we're seeing with Sentinelone.
- Yeah, certainly is, at least for today with shares closing off just about 35%. When it comes to the Street's reaction, Stephens downgrading the stock to equal rate. Morgan Stanley was also out with the note saying that, quote, "investor confidence in Sentinel one is going to be hard to win back," at least for now given some of those trends, Diane, that you just mentioned. But you're right, the macroeconomic environment right now certainly the company sees that impacting deal sizes. Sales cycles, a little bit worrisome here to investors.
We also got to talk about some of those AI plays. Shares of NVIDIA giving back some of that early momentum that we saw earlier this week once the stock briefly cracked above the $1 trillion market value here. But we did see a little bit of a pullback across the board. C3 AI was one of the names under pressure this week following its earnings report. And just to pointed out, though, that was a stock that was up over 200% year to date going into the report. So we're seeing a little bit of a fall back here in terms of the fundamentals and where these stocks have been trading.
- Yeah, I mean that looks just a little bit like profit taking. And we know this. AI hype is really more than hype. We talked to investor after investor. It's fueled tech fund flows. We saw that in a Bank of America. Note today, talking about record weekly inflows into these really just big names within the AI sector. And again, Nvidia, that looks like profit taking today. And I mean, we continue to see we're really at the beginning of this I play.
- Certainly. That seems to be at least a consensus from analysts following their earnings report last week.