Good evening, you're tuned to Markets Desk.
Broadcom took a hard hit today after reporting earnings that left the market cold. The chipmaker declined to raise its artificial intelligence revenue outlook for next year, and in a moment when investors are priced for perfection, that silence was treated as a miss. The stock sold off sharply, a reminder that in this environment, standing still reads as moving backward.
Shifting to retail, Lululemon cut its full-year outlook and issued weaker than expected guidance for the second quarter, citing what the company called undisclosed headwinds — a phrase that rarely inspires confidence on the Street. The athleisure brand has been navigating softer consumer demand, and this latest signal suggests management sees the pressure persisting well into the back half of the year.
And in the IPO market, a quieter name stole the show. Innio, a power generator company serving data centers, surged on its debut and outperformed the more heavily covered Quantinuum listing on the same day. It is a telling moment — as AI infrastructure demand intensifies, the picks-and-shovels plays are drawing serious capital, sometimes more than the headline technology itself.
That's the tape. Markets Desk, signing off the floor.
