Wall Street Breakfast Podcast: Activist Elliott Loads Up On Lululemon
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Wall Street Breakfast5.74M FollowersSubscribe5ShareSaveCommentsSummaryElliott Investment Management has taken a $1B+ stake in Lululemon (LULU), becoming one of its largest shareholders, pushing for leadership changes at LULU.Micron (MU) surged premarket after issuing Q2 guidance and long-term HBM market forecasts that far exceeded analyst expectations.Hedge fund in talks to potentially buy Warner Bros. (WBD) TV assets, including CNN - report. jetcityimage/iStock Editorial via Getty Images Listen below or on the go via Apple Podcasts and Spotify Activist investor Elliott takes over $1 billion stake in lululemon (LULU) - report. (00:26) Micron (MU) forecasts $100B HBM market by 2028 as supply tightness persists through 2026. (01:28) Hedge fund in talks to potentially buy Warner Bros. (WBD) TV assets, including CNN - report. (02:16) This is an abridged transcript.
Elliott Investment Management has taken a stake in lululemon Athletica (LULU). The activist investor has bagged a stake exceeding $1 billion, positioning it as one of the company's largest shareholders.
The Wall Street Journal reported, citing people familiar with the matter that Elliott is lining up potential CEO candidates. The report said Elliott is pushing for leadership changes including proposing Jane Nielsen—a former CFO and COO at Ralph Lauren—as a potential new CEO. Nielsen said in a statement to WSJ. “I would welcome the chance to discuss this opportunity with the Lululemon board.” This move follows the current CEO’s planned exit in January 2026, amid criticism over product execution, market share losses to rivals like Alo Yoga, and a 60% drop in share price from its peak. lululemon's market value stands around $25 billion. Premarket LULU is up 4%. Micron Technology is up 10% in premarket action. Shares rose after the memory maker reported fiscal first-quarter results and guidance that were well above Wall Street's forecast. Looking ahead to the second quarter, Micron said it expects to earn between $8.22 and $8.62 per share on an adjusted basis, while revenue is expected to be between $18.3B and $19.1B. Analysts had expected the company to earn an adjusted $4.78 per share on $14.3B in revenue. The company also forecasts a $100B HBM market by 2028 as supply tightness persists through 2026. The founder of Standard General has been in talks over potentially buying or investing in Warner Bros. Discovery's (WBD) television networks.
The Financial Times reported citing people briefed on the matter that Soo Kim has been approached by at least one major Warner Bros. (WBD) shareholder to acquire all or part of the cable TV assets, including CNN. The report noted that the shareholder who approached the hedge fund founder could not be immediately identified. Warner Bros. (WBD) has received competing offers from Netflix (NFLX) and Paramount Skydance (PSKY). WBD's board told its shareholders to reject Paramount's hostile bid, and maintained that Netflix's offer is superior. Netflix's (NFLX) bid is for Warner Bros.' (WBD) studio and streaming business, while Paramount (PSKY) wants to buy all of WBD, including CNN. What’s Trending on Seeking Alpha U.S. approves $11.1 billion arms sales to Taiwan House passes Republican healthcare bill without extending ACA subsidies Instacart stock falls on report of FTC probe over AI pricing tool Dow, S&P and Nasdaq futures are in the green. Crude oil is up 0.2% at $56/barrel. Bitcoin is up 1.3% at $87,000. Gold is down 0.3% at $4,324. The FTSE 100 is up 0.2% and the DAX is up 0.5%. The biggest movers for the day premarket: Vision Marine Technologies (VMAR) -32% - Stock tumbled after the company announced the pricing of a 32M unit public offering, aiming for gross proceeds of $9.6 million. On today’s economic calendar: 8:30 am CPI 10:00 am Leading Indicators This article was written byWall Street Breakfast5.74M FollowersSubscribeWall Street Breakfast, Seeking Alpha's flagship daily business newsletter, is a one-page summary that gives you a rapid overview of the day's key financial news. It is designed for easy readability on the site or by email (including mobile devices) and is published before 7:30 AM ET every market day.
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