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Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

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Today is Thursday, December 18th.

I'm Julie Morgan.

Elliott Investment Management is reportedly now one of Lululemon's largest shareholders.

Micron is surging, and a new suitor has reportedly entered the mix for Warner Bros.

Discovery.

Elliott Investment Management has taken a stake in Lululemon Athletica.

The activist investor has bagged a stake exceeding $1 billion, positioning it as one of the company's largest shareholders.

The Wall Street Journal reported citing people familiar with the matter,

that Elliott is lining up potential CEO candidates.

The report said Elliott is pushing for leadership changes, including proposing Jane Nielsen, a former CFO and COO at Ralph Lauren, as a potential new CEO.

Nielsen said in a statement to the journal that she would welcome the chance to discuss this opportunity with the Lululemon board.

This move follows the current CEO's planned exit in January of next year.

Amid criticism over product execution, market share losses to rivals like Alo Yoga and a 60% drop in share price from its peak.