Premarket Movers: Lululemon Soaring on News of CEO Departure

Shares of Lululemon (NASDAQ: LULU) are up about 9%, or $17 a share in premarket trading today.

All on news that CEO Calvin McDonald announced he would leave the company by the end of January 2026. The news is greatly welcomed after investors watched the LULU stock fall from a high of about $425 to its current price of $187.01.

At the moment, LULU’s board of directors is working with an executive search firm to find its next CEO.  In the meantime, Lululemon’s CFO Meghan Frank, and Chief Commercial Officer, André Maestrini, will serve as interim co-CEOs during the search process.

The company also just reported EPS of $2.59, which was above estimates of $2.25. Revenue of $2.57 billion was above estimates of $2.48 billion. Unfortunately, guidance is expected to fall in between a range of $4.66 and $4.76, which is well below estimates of $5.03.

Broadcom 

Shares of Broadcom (NASDAQ: AVGO | AVGO Price Prediction) are down about 6%, or $23.57 per share, in premarket.

The company’s EPS of $1.95 was better than the estimated $1.86. Revenue of $18.02 billion was above the expected $17.49 billion. Plus, according to CEO Hock Tan, AI chip sales are expected to double year over year to $8.2 billion. Helping, analysts at Bernstein just raised their price target on AVGO to $475 on strong AI results.

Unfortunately, the stock is slipping after the CEO said the company has a backlog of $73 billion in product orders that would be shipped over the next six quarters. That number was apparently disappointing, which destroyed the stock.

Newmont 

Shares of Newmont (NYSE: NEM) are up another $2.40 a share in premarket. Not only is it running higher with gold prices, but it’s also generating record free cash flow of $1.6 billion, marking its fourth straight quarter of FCF growth over $1 billion. It’s also seeing a boost with margins thanks to cost-cutting efforts. Fueling more upside, analysts at Bank of America recently reiterated its buy rating on the NEM stock with a price target of $118.

NEM is now trading at a new 52-week high and could rocket even higher with gold now above $4,327.  From here, a good number of analysts say gold could rally above $5,000. Bank of America, for example, is targeting $5,000 by 2026. JPMorgan is targeting $5,055. HSBC analysts are targeting $5,000 by early 2026, too.