Finance

Lululemon $LULU traded down 8.6% after fiscal Q1 revenue rose 4% to $2.47B but FY2026 EPS guidance was cut to $10.95-$11.15. Americas comparable sales fell 5%, while gross margin compressed 410 bps to 54.2%.

KOSPI ended June 5 down 5.54% at 8,160.59, while Samsung Electronics (005930.KS) fell 6.40% and SK Hynix (000660.KS) dropped 9.92%, according to CNBC market data. The move followed a Wall Street rotation out of AI-linked semiconductor shares.

Broadcom $AVGO fell more than 12% after Q2 FY2026 revenue of $22.187B missed estimates, according to CNBC market data. The company’s SEC-filed release showed AI semiconductor revenue of $10.8B, up 143% year over year, and Q3 revenue guidance near $29.4B.

May nonfarm payrolls rose 172,000, more than double the 80,000 Dow Jones consensus, while unemployment held at 4.3%. CNBC, citing the Bureau of Labor Statistics report, said Treasury yields moved sharply higher as the labor surprise reduced near-term Fed-cut odds.

Ciena $CIEN dropped ~8.9% premarket June 4 despite beating Q2 FY2026 estimates — revenue of $1.57B (+40% YoY) and adjusted EPS of $1.64 vs. $1.46 estimate. FY2026 guidance was raised to $6.3B ±$100M (+32% YoY), but investors expected more after an AI-driven sector rally. Lumentum, Coherent, Marvell, and Corning fell in sympathy.

Bitcoin fell to $61,300 over June 3-4, triggering ~$3 billion in crypto derivatives liquidations across two sessions, with 266,158 traders forcibly liquidated in the worst 24 hours. Catalysts: spot ETF net outflows exceeding $2B over two weeks, Strategy's first BTC sale in nearly four years, and Middle East tensions. Total crypto market cap shed $190B in June.

Foreign investors sold a net KRW 6.95 trillion ($4.5B) on KOSPI June 4 — the second-largest daily foreign net sell on record — as KRW/USD breached 1,530 won for the first time since the global financial crisis. KOSPI fell 1.84% to 8,639.41; KOSDAQ rose 2.31%. Foreigners have net-sold for 19 consecutive sessions (~KRW 66T total).

SpaceX launched its roadshow June 4 for a record $75 billion IPO — the largest in history, ~2.5x Saudi Aramco's 2019 record — pricing at $135/share (ticker: SPCX, Nasdaq) for a ~$1.77T market cap. The public float is just 4.2%, insiders retain 95.8%. Trading begins June 12.

Broadcom $AVGO fell 15% on June 4 — its worst day since January 2025 — after Q3 AI chip guidance of $16B missed the $17.2B analyst estimate by $1.2B. Q2 FY2026 revenue of $22.19B and non-GAAP EPS of $2.44 both beat consensus, and full-year AI semiconductor guidance was left unchanged at 'in excess of $100B,' disappointing a market that had priced in a raise.

Ulta Beauty reported fiscal Q1 diluted EPS of $7.74, up 15.5% and above the $6.86 estimate cited by Reuters. Net sales rose 11.1% to $3.164B, and FY2026 EPS guidance increased to $28.36-$28.80.

Palo Alto Networks reported fiscal Q3 revenue of $3.002B, up 31% and above the $2.94B consensus cited by CNBC. The company lifted FY2026 revenue guidance to $11.415B-$11.425B as NGS ARR reached $8.1B.

Abivax $ABVX fell more than 30% after investors focused on cancer-case details in Phase 3 ABTECT maintenance data, despite placebo-adjusted clinical remission rates of 39.3% and 40.3% for 25 mg and 50 mg obefazimod. The company still targets an FDA NDA submission in late Q4 2026.