TODAY'S CHARTS: Lululemon bucks retail trend; GE's massive layoffs; Yelp's downgrade

Justine Underhill
·Reporter

Broadcom (AVGO) shares are higher after the chip maker beat on earnings, thanks to sales of smartphone parts, and increased its dividend. This comes as Broadcom is trying to convince shareholders to back its $100 billion takeover of rival Qualcomm (QCOM).

Shares of General Electric (GE) are rising slightly after announcing it’s cutting 12,000 jobs at its global power division as part of its efforts to reduce costs by $1 billion in 2018. The move comes just a month after the industrial giant cut its dividend for the second time since the Great Depression.

Lululemon (LULU) shares are surging over 6%. The yoga-wear retailer beat on earnings, raised its full-year forecasts and reported same-store-sales growth of 7%.

Dollar General (DG) shares are trading about 3% higher after reporting same-store sale growth of 4.3%, well above forecasts and bigger-than-expected gross margins.

Yelp (YELP) shares are sinking on a downgrade to Underweight at Piper Jaffray. Analysts noted that traffic and user acquisition may become more difficult as Facebook (FB) and Google (GOOGL) route users to their own offerings.