WEBVTT - Centene, Coca-Cola Soar; Spotify Plummets

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 1>I'm Jim Centovic along with Carol Master. Let's take a

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<v Speaker 1>look at some stocks on the move today. We're joined

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<v Speaker 1>by Bloomberg Television Markets correspondent Norah Melinda Nora. What did

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<v Speaker 1>you bring?

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<v Speaker 3>Well, let's kick things off with the best performing stock

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<v Speaker 3>in the S and P five hundred, looking at centeen,

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<v Speaker 3>that's ticker CE and C. We know that this is

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<v Speaker 3>a twenty four and a half billion dollar market cap

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<v Speaker 3>company based in Missouri, a health insurance company, and we

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<v Speaker 3>did see that they essentially reported profit that beat a

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<v Speaker 3>Wall Street's estimate. So that's why you're really seeing a

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<v Speaker 3>surge and shares today. The company, of course giving services

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<v Speaker 3>like Medicare Medicaid plans. A lot of those government sponsored

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<v Speaker 3>patients is who they serve, lower income individuals. We're seeing

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<v Speaker 3>the stock is up as much as fifteen percent today,

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<v Speaker 3>on pace for its best day since twenty twenty, back

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<v Speaker 3>in those pandemic days, and the stock has surged about

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<v Speaker 3>twenty one percent so far this year, so clearly on

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<v Speaker 3>a rally.

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<v Speaker 2>All right, let's go to Spotify ticker of course spot.

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<v Speaker 3>Yes, this one down today, down earlier as much as

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<v Speaker 3>fifteen percent, worse day in four years. Of course, we

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<v Speaker 3>know this company based in Sweden. It did report a

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<v Speaker 3>weaker than expected guidance for the second quarter operating income,

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<v Speaker 3>and you really are seeing a lot of investors really

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<v Speaker 3>parsing what this means for the company that we know

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<v Speaker 3>has already been struggling with a tough backdrop big tech competition,

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<v Speaker 3>AI disruption, and focus margin pressure. So you are seeing

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<v Speaker 3>that investors aren't really fully convinced about the company's strategy.

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<v Speaker 3>The stock is down about twenty six percent so far

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<v Speaker 3>this year, and of course today's decline really adding to

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<v Speaker 3>that pressure.

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<v Speaker 1>And finally, Coca Cola.

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<v Speaker 3>Coca Cola ticker KO stock is up earlier, jumping as

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<v Speaker 3>much as six and a half percent for its best

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<v Speaker 3>day since twenty twenty. This is after the company reported

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<v Speaker 3>organic revenue growth of ten percent, which did beat estimates,

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<v Speaker 3>and it also marked its strongest growth in five quarters.

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<v Speaker 3>And we're really seeing that it is offering a range

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<v Speaker 3>of different drink prices and that's what's really picking up

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<v Speaker 3>traction as they're really diversifying their offerings there in terms

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<v Speaker 3>of price point for consumers. But additionally they're seeing strong

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<v Speaker 3>demand for mini cans. Apparently people not really opting for

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<v Speaker 3>that full size where they do like I guess, a

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<v Speaker 3>small drink there.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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