Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Bloomberg's normal Inda here with some stocks on the move
Speaker 1: today and Nora get us started with Verizon.
Speaker 3: Yes, Verizon and EchoStar in focus ticker VZ for Verizon
Speaker 3: and SATs here for EchoStar. We're looking at the two
Speaker 3: companies right now. We've got echo Star shares jumping after
Speaker 3: news that it will be engaging in some talks to
Speaker 3: sell some of its wireless spectrum to Verizon Communications. If
Speaker 3: you look more broadly, this stock has really been on
Speaker 3: a tear this year, up two hundred and thirty percent
Speaker 3: so far here today. And of course this news with
Speaker 3: Verizon in terms of the conversations that they're having definitely
Speaker 3: follows what we were looking at back in late August
Speaker 3: about AT and T buying some spectrum licenses from EchoStar
Speaker 3: for about twenty three billion dollars in cash here, so
Speaker 3: we know echo Star really has relationships with a few
Speaker 3: of these other companies AT and T, SpaceX as well,
Speaker 3: so lots to really dig into for this company. Really
Speaker 3: seeing some strong gains here for investors.
Speaker 1: Again about time.
Speaker 2: We've waited for a dozen years for these returns, So
Speaker 2: there we go. Okay, what else?
Speaker 3: Also looking at shares of Spotify, that's take our spot here,
Speaker 3: sliding down as much as five point six percent. That's
Speaker 3: the worst since July here in terms of daily performance.
Speaker 3: And this is after news that at CEO Daniel Eck
Speaker 3: is stepping aside after leading the company for almost two
Speaker 3: decades here he was one of the co founders of
Speaker 3: the company, but they will be promoting two people here
Speaker 3: that were co presidents. They will be jointly running the
Speaker 3: company moving forward here. But of course, this has really
Speaker 3: been a challenging time more broadly when you think about
Speaker 3: Spotify and a lot of these streaming different platforms here,
Speaker 3: especially as you think about AI kind of coming in
Speaker 3: and kind of challenging the order here. So it's a
Speaker 3: bit of a time of flux right now, especially with
Speaker 3: growth slowing to its lowest rate in years, especially as
Speaker 3: we have streaming kind of maturing in some of those
Speaker 3: major markets here. So definitely a lot going on there
Speaker 3: with Spotify seeing a slide of as much as five
Speaker 3: point six percent.
Speaker 1: And I'm just bracing myself for more price hikes from
Speaker 1: Spotify as well. I know, speaking of prices, Noura, you're
Speaker 1: looking at Pfizer because there's reports and expectations that it
Speaker 1: will cut some drug prices in a deal with President Trump, right,
Speaker 1: I mean.
Speaker 3: They So there is this expectation here. So we are
Speaker 3: seeing shares of Pfizer charging higher here up about two
Speaker 3: point seven percent right now. That's Tacker Pfe here, And
Speaker 3: so this is the announcement about plans to lower prescription
Speaker 3: drug prices. Of course, we know this is an event
Speaker 3: alongside Trump and including across the board reductions on US
Speaker 3: prices more broadly, but Americans that are enrolled in the
Speaker 3: US Medicare insurance program will received the most favored nation
Speaker 3: pricing on some of Pfizer's medicines, and Pfiser role launch
Speaker 3: direct to consumer sales of drugs at substantial discounts through
Speaker 3: Trump Our ex.
Speaker 2: Trump our X. That's a thing.
Speaker 3: That's a thing.
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