Lululemon Drops to Eight-Year Low, Adobe Falls, FICO Plunges

0:00Some people treat Chachy PT like some kind of smart search engine, and some use it to get work done. Chachy PT work is a new way of working in Chachy PT that can take action across your apps and files, stay with a project for hours if needed, and turn a goal into finished work. It's designed to help you move from a chaotic starting point to a reviewable first version. So all the source materials, briefs, and scattered information that you have to grind through to turn into something useful can just become something useful. Put Chachy PT to work on your most ambitious ideas and projects. Get started at chachypt.com by selecting Work Mode, available on plus and pro plans. Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report, your round up of companies making moves in the stock market, harnessing the power of Bloomberg data.

1:25The Stock Movers Report, the company cut its full year outlook for a second straight quarter, and reported its first quarterly decline in comparable sales since the pandemic. Analysts called it a triple whammy. U.S. revenue down, a women's business with leggings down, and China also an important segment is also lower. And the fear here is that this is not the end of it, that basically more reductions are coming. Down the line, particularly as the new CEO takes the rain and perhaps will adopt a shrink to grow strategy, and that is what's hitting the stock right now. And really, if you look at the year today, performance down to 50%, the new CEO certainly has a lot of work to do. She sure does. We were just talking about that. Another stock heading lower is Adobe. They're changing leadership too. It's picking up CEO's and all that. Exactly. Speaking of leadership transition plans, Adobe is down a 6% after revealing its new transition plans for the CEO. A Neil Koch-rovarti, I hope I'm pronouncing it correctly. The leader of its marketing and analytics business will take the post from December 1st.

2:31He's been with the company since 2020, so somewhat of a veteran. Right now, set the replace the currency, no Ryan, who's been leading the company for quite some time. Well, the twist here is that David Wadwani, who run the Adobe's creative business, hit it that picked. And the market is kind of asking why not? Because he's leading the much bigger division, which is the creative division. An analyst thought he would be better placed for this position. Well, on his part, he said he will live the company for another opportunity. So he's out. And now the market basically is just trying to figure out what the new transition will mean for the company. Obviously, this stock has been struggling for some time with AI disruption fears, down 60% since the pandemic. So again, big shoes to fill there. Oh, and that's ticker A, D, B, E, Adobe. Okay, fair eyes, a corp. You have them coming in. They're also lower this morning. Yeah, there's a... You don't have much good news for us, do you?

3:31No, I picked all the down moves. I'm sorry. It's the market is seeing a little bit of pressure. That stock under heavy pressure particularly hit among the credit bureau space. That's after US Federal Housing Finance Agency Director Bill Pulti issued renewed criticism of these bureaus for overcharging Americans. And that's his been a big theme for him for quite some time. He's talking about the monopoly of the FICO score, which he's trying to dismantle to lower this cost. And fair Isaac is the creator of this score and the other bureau agencies. They license it. So they also benefit from this score. Well, Mr. Pulti is now saying that the government is considering some changes, like perhaps that you only need one credit agency and not three of them to give you this score. So I hope your credit score is good because the changes are coming in that space. Fingers crossed. This stock movers report from Bloomberg Radio.

4:33Check back with us throughout the day for the latest round up of companies making news on Wall Street. And for the latest market moving headlines, listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app. Some people treat Chachy PT like some kind of smart search engine. And some use it to get work done. Chachy PT work is a new way of working in Chachy PT that can take action across your apps and files, stay with a project for hours if needed and turn a goal into finished work. It's designed to help you move from a chaotic starting point to a reviewable first version. So all the source materials, briefs and scattered information that you have to grind through to turn into something useful can just become something useful. Put Chachy PT to work on your most ambitious ideas and projects. Get started at chachypt.com by selecting Work Mode,

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