Closing Bell Movers: Broadcom up 4%, Lululemon slips 15% after earnings

In the opening hour of the evening session heading into Friday’s key non-farm payrolls economic event, U.S. equity futures are slightly firmer, with S&P 500 up 0.1% and Nasdaq 100 up 0.2%, while Dow Industrials are flat.   In commodities, WTI Crude Oil remains pressured below $63.50 after two consecutive down days, with Metals also seeing continued retreat following a brisk week-long rally – Gold is now below $3,600 level while Silver trades below $41.30 per ounce.  

Consumer Cyclicals was the best performing sector on the S&P 500, with mega-cap Amazon.com (AMZN) staging an outsized 4% rally.  Specialty retail names Williams Sonoma (WSM) and Dick’s Sporting (DKS) were also sharply higher.  Utilities was the worst performing sector however, as late-day strength in the index produced a record-high close above 6,500, chasing investors out of higher-income defensive names.

The first Friday of the month brings the release of non-farm payrolls, and following today’s soft ADP numbers, traders are leery of a follow-through from weak private sector hiring seen in July.  In addition to August numbers, tomorrow’s data will also feature the annual benchmark revision of non-farm employment  data, which could further highlight a weaker labor market in 2025 than reflected by the initial and healthier monthly prints released prior to last month’s report.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• Braze (BRZE) up 14.8%
• Zumiez (ZUMZ) up 13.2%
• Guidewire Software (GWRE) up 11.5%
• Samsara (IOT) up 10.8%
• ServiceTitan (TTAN) up 8.7%
• DocuSign (DOCU) up 7.4%
• UiPath (PATH) up 4.5%
• Broadcom (AVGO) up 3.6%

ALSO HIGHER –

• BILL Holdings (BILL) up 8.7% after Starboard disclosed 8.5% stake
• Mirion Technologies (MIR) up 7.2% after being admitted to S&P SmallCap 600 index

DOWN AFTER EARNINGS –

• Lululemon (LULU) down 14.8%
• Phreesia (PHR) down 10.8%
• Argan (AGX) down 7.6%