Earnings are in focus with Oracle, Adobe, and Lennar reporting in the coming days.
Bloomberg's Nathan Hager previews the numbers with Vildana Hajric, Bloomberg Cross Asset Reporter.

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On this episode of Stock Movers, we look at some of the week's biggest gainers and decliners:

- Broadcom (AVGO) shares plunged by the most in more than 16 months after the company’s forecast for sales of its artificial intelligence chips disappointed investors. The outlook spooked investors, triggering a rotation out of AI-related tech stocks which led to a broader market selloff on Friday. The concerted slide in stocks, bonds and crypto was the biggest setback in months for the latest leg of the bull market, which traces to the end of March when negotiations began in earnest to end war in Iran. Concern has grown recently about the sustainability of an AI-fueled rally that had pushed the Philadelphia Semiconductor Index toward its best quarter ever.

- Coinbase (COIN) shares fell on Friday trading after Baird named the crypto exchange a new bearish pick due to weak trading volumes. Analyst David Koning sees lower trading volumes and the US crypto market legislation likely not passing until after mid-term elections weighing on Coinbase’s valuation.

- Humana (HUM) shares advanced in trading this week, after Morgan Stanley increased its price target on the managed care firm to $249 from $217. The health-care sector broadly climbed on Thursday, in contrast to the tech stock decline.

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On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

- Chipotle (CMG) shares traded higher against a broader market selloff after JPMorgan upgrades to overweight from neutral citing a “rare valuation opportunity” for the stock.

- AI-related tech stocks led a steep decline in equities on Friday. Broadcom's (AVGO) disappointing AI outlook triggered the selloff, with companies like Meta (META), Micron (MU), Arm (ARM) and Marvell (MRVL) seeing some of the biggest slides.

- Lululemon (LULU) shares tumbled to their lowest level in eight years after the upscale yogawear company cut its annual forecast due to deteriorating performance in North America. The shares fell as much as 12% when markets opened Friday in New York, touching their lowest level since May 2018. The stock has now declined more than 40% since the start of the year, making it one of the worst performers in the S&P 500 Index over the period.

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