Broadcom Ltd is a global technology company that designs, develops, and supplies a wide range of semiconductor and infrastructure software solutions. The company specializes in producing chips that facilitate communication and data processing across various devices and networks, including those used in smartphones, enterprise storage systems, broadband access, and data centers. Additionally, Broadcom offers software solutions that enable businesses to optimize their operations, manage network security, and enhance performance across cloud-based and on-premises environments. Through its comprehensive portfolio, Broadcom plays a critical role in advancing connectivity and computing technologies in various industries. Read More
Shares of industrial fluid and energy systems manufacturer Graham Corporation (NYSE: GHM)
fell 2% in the afternoon session after the major indices continued to retreat (Nasdaq -1.5%, S&P 500 -1.2%) amid profit-taking and renewed concerns about tariffs. The sell-off was partly triggered by the latest ISM Manufacturing report, which showed activity in the sector shrinking for a sixth consecutive month. This news sparked a risk-off sentiment among investors, sending major indexes like the S&P 500 and Nasdaq down by more than 1%. Adding to the concerns, the ISM report highlighted executives' worries about unstable tariffs and a weakening global economy, which has led to decreased orders. The negative market-wide reaction to this economic data appears to be the primary driver behind the decline in Graham Corporation's shares, as no company-specific news was reported.
Shares of athletic apparel retailer Lululemon (NASDAQ:LULU)
fell 1.6% in the afternoon session after Jefferies lowered its price target on the stock, adding to investor concerns about the athletic apparel maker's growth prospects. The investment firm reduced its price target to $150 from $160 while maintaining its "Underperform" rating. This bearish view comes amid broader worries about the company's performance, particularly a slowdown in U.S. traffic, which is a significant risk given the U.S. market represents three-quarters of Lululemon's revenue. Compounding these concerns, the company is set to report second-quarter results on September 4, with analysts' consensus estimates suggesting a nearly 10% decline in earnings per share from the year-ago period, even as sales are expected to grow.
Shares of online learning platform Coursera (NYSE:COUR) fell 4.8% in the afternoon session after the stock fell in sympathy with the broader market, which saw a significant downturn led by the technology sector.
Shares of visual content marketplace Getty Images (NYSE:GETY) fell 2.7% in the afternoon session after the major indices continued to retreat (Nasdaq -1.5%, S&P 500 -1.2%) amid profit-taking and renewed concerns about tariffs.
Shares of industrial distributor DXP Enterprises (NASDAQ:DXPE) fell 3.2% in the afternoon session after the major indices continued to retreat (Nasdaq -1.5%, S&P 500 -1.2%) amid profit-taking and renewed concerns about tariffs.
Shares of online casino and sports betting company Rush Street Interactive (NYSE:RSI)
fell 3.5% in the afternoon session after the major indices continued to retreat (Nasdaq -1.5%, S&P 500 -1.2%) amid profit-taking and renewed concerns about tariffs.
Shares of fantasy sports and betting company DraftKings (NASDAQ:DKNG)
fell 1.9% in the afternoon session after reports revealed Crypto.com and Underdog Sports are partnering to launch sports prediction markets in the U.S., signaling increased competition in the sector. The news sent shares of other European betting and gambling companies, including Entain and Evolution, lower as well. According to a CNBC report, the new platform from Crypto.com and Underdog Sports will initially target 16 states where sports betting is not yet legalized. The partnership highlights a growing crossover between financial trading and sports betting through prediction markets, where users trade contracts based on the outcome of sporting events. This development could heighten competitive pressure in an industry already navigating rapid digitalization and regulatory shifts, with other firms like Robinhood and Kalshi also entering the space.
After years of unprecedented dominance by a handful of U.S. mega-cap technology companies, the financial markets are undergoing a significant and long-awaited rebalancing. Investors are increasingly shifting capital away from these tech giants towards a broader universe of U.S. small-cap stocks and economically sensitive, cyclical, and value-oriented investments.
Wall Street is buzzing with a familiar, yet unsettling, narrative: the increasing concentration of market value in a handful of mega-cap technology companies, leading to valuations that harken back to the infamous dot-com bubble. This top-heavy market structure is raising red flags among experts, who warn of potential fragility and
