Stock Market Update

[BRIEFING.COM] The S&P 500 (-1.2%), Nasdaq Composite (-1.8%), and DJIA (-0.4%) remain below their flatlines as losses in tech names widen and broaden to other sectors.

Broadcom (AVGO 361.76, -44.61, -10.98%) is  one of the worst-performing S&P 500 names today despite posting an impressive finish to FY25. The semiconductor and infrastructure software giant delivered upside Q4 (Oct) results, issued Q1 (Jan) revenue guidance above consensus, and even raised its dividend by 10%. However, expectations were sky-high, with the stock up over +180% since April, leaving little room for merely "strong" results. 

While results and commentary were solid, the FY26 tone wasn't quite as hyper-bullish as the market hoped, particularly given the massive AI backlog and recent enthusiasm around AI accelerators and networking.

Meanwhile, lululemon athletica (LULU 204.94, +17.93, +9.59%) is the top-performing S&P 500 name, also after posting its earnings results last night. The company beat expectations on the top and bottom line, with revenue increasing 7.1% to $2.57 billion. The company also guided Q4 EPS to $4.66-4.76, which was below expectations, and revenue to $3.50-3.59 billion, which was in line. Perhaps the biggest news was that CEO Calvin McDonald plans to step down from the role, effective January 31.