Lululemon Sinks, ServieNow Plunges on Reporting Sales Slowed by Mideast War

Indices built to someone else's specification? That's the old way. The new way is Bloomberg Equity Indices. Design custom benchmarks and distribute them at speed. Discover evolved benchmarks for today's equity markets at bloomberg.com slash equity index licensing. Bloomberg Audio Studios. Podcasts. Radio. News. The Stock Movers Report. Your roundup of companies making moves in the stock market. harnessing the power of Bloomberg data. Let's take a look at some of the stocks on the move today. We can do that with Bloomberg's Avalon Purnell. Avalon, what are you looking at today? Lululemon, that's ticker Lulu, falling now about 11% for its biggest one-day drop, at least intraday since September. That's after at least your brand said that Heidi O'Neill, a former Nike executive, will be coming on to start as their CEO beginning in September. Piper Sandler writing that her appointment will be a surprise to a lot of investors who will likely remember her playing a key role under Nike's former CEO, which for those who don't remember, that was a period where Nike kind of pushed toward direct consumer and struggled to innovate. So Lulu has definitely had a tough year, already down more than 30% this year. Yeah. And with today's decline, that is the lowest stock price since March of 2020. And we know what happened in March of 2020. All right, next up. Yeah. Next up, we have ServiceNow. That's ticker now. Very easy to remember. Tumbling about 16% for its most intraday since 2020. That's after the software company cut its full year forecast for subscription adjusted gross margin and said that some deals may actually be delayed because of the war in the Middle East That is on top of a very tough year and tough landscape for software companies as investors continue to question the potential for AI disruption The Stock Movers Report from Bloomberg Radio Check back with us throughout the day for the latest roundup 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. Indices built to someone else's specification? That's the old way. The new way is Bloomberg Equity Indices. Design custom benchmarks and distribute them at speed. Discover evolved benchmarks for today's equity markets at bloomberg.com slash equity index licensing. Hello, I'm Stephen Carroll. I'm in Brussels where many of Europe's biggest decisions get made. And I'm Caroline Hepker in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday keeping an eye on what's happening across Europe and around the world. We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break. So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens. It's smart, calm and to the point. And it fits into your morning. You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris. On Apple, Spotify, YouTube or wherever you get your podcasts.