Markets
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Claire Yubin Oh & David Crowther

BYND rises on elevated volumes, has now doubled in the last 10 days after product revamps

Beyond Meat soared as much as 18% in overnight trading, extending a winning streak that has seen the stock nearly double since April 10, after gaining over 41% in yesterday’s session alone.

That’s a significant turnaround for the meat alternative company, which just three weeks ago was tanking after issuing weak sales guidance... with the company’s management laying blame on American society for its business struggles.

Beyond repair?

BYND has had two distinct moments in the sun: one as a bona fide startup stud promising to transform the food industry forever in 2020 and 2021, and the other as a meme stock, when the company suddenly found itself at the center of a retail trading frenzy last October after a tumultuous few years.

Sparking this latest tick higher appears to be a new product release from last Thursday, when the company revealed that Beyond Immerse, the company’s first functional beverage line, had signed a distribution agreement with Big Geyser — one of the country’s largest nonalcoholic distributors. That followed an update to its breakfast sausage range just three days earlier.

It’s a big ask for a new sausage or protein-packed drinks with fruity flavors — both highly competitive categories — to fully save a company that’s seen sales sink, losses balloon, and its share price crater through the years. But the product news, combined with Beyond appeasing Nasdaq regulators by finally filing its delayed 2025 annual report, seems to have been enough to reinvigorate investor interest, shaking off some concerns about a delisting.

Perhaps most importantly, however, is that retail traders are once again fishing in the higher-risk, higher-reward end of the stock market pond. Risk-on assets have ripped higher in the last few weeks as geopolitical risks calmed, bringing indexes to an all-time high and seeing meme-like stocks soar on speculative excitement rather than business fundamentals. Just from last week, we’ve seen Allbirds and Myseum skyrocket on surprise AI pivot news. Retail favorites like quantum name IonQ have also caught a bid.

But, where Beyond’s concerned, this ain’t 2021 yet. And it’s still nowhere near last October, either:

Per Bloomberg data, there’s still plenty of interest in betting against the company — short interest as a percent of the equity float is at 35% — but it still pales compared to the 83% level from its October high.

In simple volume terms, BYND traded only some $224 million as of yesterday — a tiny fraction of October’s busiest day, when $11 billion changed hands.

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Helena Cheng

Lululemon’s stretch getting tested: Stock plunges after after outlook is cut

Lululemon shares are down double digits in premarket trading after the company cut its full-year sales and profit outlook, overshadowing a Q1 beat and raising fresh concerns about the brand’s turnaround efforts.

The company now expects fiscal 2026 revenue to be flat to down 1%, compared with its prior forecast for 2% to 4% growth. Guidance for full-year diluted earnings per share was dragged down to a range of $10.95 to $11.15, below the company’s previous guidance of $12.10 to $12.30 and well below Wall Street’s estimate of $13.26.

Key numbers for Q1:

  • EPS of $1.69 vs. the $1.68 expected.

  • Revenue of $2.47 billion vs. the $2.43 billion expected.

The modest top-line beat masked a widening divergence between Lululemon’s geographic markets. While international revenue rose 22% overall with a 30% increase in Mainland China, the bigger problem remains North America, where revenue fell 5%.

Interim co-CEO and CFO Meghan Frank acknowledged during the earnings call that recent product rollouts underperformed. A highly anticipated yoga campaign failed to generate its expected “halo effect” across broader product lines.

Profitability metrics took a major hit, with gross margins contracting by 410 basis points to 54.2% due to mounting tariff costs and promotional markdowns. Operating income consequently fell 37% year over year to $276.9 million.

“We experienced spikes of negative commentary in the media and on social channels with regard to our brand, which had an impact on traffic and overall top-line performance,” Frank said during the earnings call. “And second, not all of our product launches have met our expectations. While we have had several successful launches so far this year, we have seen others as we start Q2 not generate the anticipated guest response.”

Lululemon’s valuation has already been steadily compressing for years. While it was once one of retail’s richly valued stocks, investors have been questioning whether the company can return to the double-digit growth era.

The results also arrive during a leadership transition. Lululemon announced back in April that former Nike executive Heidi O’Neill is set to take over as CEO in September, with investors looking to her to revive growth in North America and restore the brand’s growth.

As Lululemon faces both macroeconomic pressure and brand-specific challenges, its stock has dropped around 40% year to date.

markets
Paige Oamek

US job growth skyrocketed in May, blasting past expectations

The US economy added 172,000 jobs in the month of May, the Bureau of Labor Statistics reported Friday, sending 10-year Treasury yields higher.

The strong May job market surprised economists. Experts had predicted only 85,000 new jobs — just half the reported number. The unemployment rate held steady at 4.3%, as expected.

The job growth story is a hopeful spot for the economy as consumers continue to feel inflationary pressure from the Iran war.

Job gains were buoyed by the leisure and hospitality sector, which added 70,000 jobs, as well as local government, healthcare, and education.

Both the March and April jobs reports were revised upward, making them collectively 93,000 higher than previously reported.

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