Welcome to Markets Desk, your midday read on what's moving money and markets.
Lululemon is getting punished today, with shares sinking fifteen percent after the athleisure giant posted another round of disappointing earnings and trimmed its outlook. The results underscore a company still searching for its footing after a stretch of slowing sales growth, and investors clearly have little patience left for promises of a turnaround.
Over at Adobe, a leadership transition is now official. The software giant has named Anil Chakravarthy as its incoming chief executive, replacing Shantanu Narayen, who announced his departure back in March. Chakravarthy steps into one of the most watched seats in enterprise software at a moment when AI is reshaping the entire creative tools landscape.
Meanwhile, in Hong Kong, the Hang Seng has dropped nearly three hundred seventy points across four straight losing sessions and is now hovering just above the twenty-five thousand two hundred ten level. Traders are watching for bargain hunters to step in on Friday, though any meaningful recovery will depend on whether broader sentiment in Asian markets can stabilize heading into the weekend.
That's the tape. Markets Desk, signing off the floor.
