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• Lululemon (LULU) declined Friday morning after the yogawear brand delivered a disappointing outlook for the year and voiced concerns about consumer spending in the US. CEO Calvin McDonald said that US shoppers are keeping their wallets tight and visiting stores less often amid geopolitical strife and high inflation.
• US Steel (X) shares surged on a report suggesting the Nippon Steel merger deal could be saved. The two companies are in talks with President Donald Trump, with Nippon offering to more than double investment in US facilities to $7 billion from $2.7 billion, according to a report from Semafor late Thursday.
• Rocket Lab (RKLB) jumped in premarket trading after the space company was selected by the US Space Force for a $5.6 billion program, which Citi analysts said was positive for the stock. According to a company statement, Rocket Lab was selected by the US Space Force to compete for the Department of Defense’s missions for its National Security Space Launch (NSSL) Phase 3 Lane 1 program.
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