WEBVTT - Stock Movers: Verizon, Spotify, Pfizer (Podcast)

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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>Bloomberg's normal Inda here with some stocks on the move

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<v Speaker 1>today and Nora get us started with Verizon.

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<v Speaker 3>Yes, Verizon and EchoStar in focus ticker VZ for Verizon

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<v Speaker 3>and SATs here for EchoStar. We're looking at the two

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<v Speaker 3>companies right now. We've got echo Star shares jumping after

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<v Speaker 3>news that it will be engaging in some talks to

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<v Speaker 3>sell some of its wireless spectrum to Verizon Communications. If

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<v Speaker 3>you look more broadly, this stock has really been on

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<v Speaker 3>a tear this year, up two hundred and thirty percent

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<v Speaker 3>so far here today. And of course this news with

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<v Speaker 3>Verizon in terms of the conversations that they're having definitely

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<v Speaker 3>follows what we were looking at back in late August

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<v Speaker 3>about AT and T buying some spectrum licenses from EchoStar

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<v Speaker 3>for about twenty three billion dollars in cash here, so

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<v Speaker 3>we know echo Star really has relationships with a few

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<v Speaker 3>of these other companies AT and T, SpaceX as well,

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<v Speaker 3>so lots to really dig into for this company. Really

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<v Speaker 3>seeing some strong gains here for investors.

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<v Speaker 1>Again about time.

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<v Speaker 2>We've waited for a dozen years for these returns, So

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<v Speaker 2>there we go. Okay, what else?

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<v Speaker 3>Also looking at shares of Spotify, that's take our spot here,

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<v Speaker 3>sliding down as much as five point six percent. That's

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<v Speaker 3>the worst since July here in terms of daily performance.

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<v Speaker 3>And this is after news that at CEO Daniel Eck

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<v Speaker 3>is stepping aside after leading the company for almost two

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<v Speaker 3>decades here he was one of the co founders of

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<v Speaker 3>the company, but they will be promoting two people here

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<v Speaker 3>that were co presidents. They will be jointly running the

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<v Speaker 3>company moving forward here. But of course, this has really

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<v Speaker 3>been a challenging time more broadly when you think about

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<v Speaker 3>Spotify and a lot of these streaming different platforms here,

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<v Speaker 3>especially as you think about AI kind of coming in

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<v Speaker 3>and kind of challenging the order here. So it's a

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<v Speaker 3>bit of a time of flux right now, especially with

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<v Speaker 3>growth slowing to its lowest rate in years, especially as

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<v Speaker 3>we have streaming kind of maturing in some of those

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<v Speaker 3>major markets here. So definitely a lot going on there

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<v Speaker 3>with Spotify seeing a slide of as much as five

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<v Speaker 3>point six percent.

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<v Speaker 1>And I'm just bracing myself for more price hikes from

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<v Speaker 1>Spotify as well. I know, speaking of prices, Noura, you're

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<v Speaker 1>looking at Pfizer because there's reports and expectations that it

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<v Speaker 1>will cut some drug prices in a deal with President Trump, right,

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<v Speaker 1>I mean.

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<v Speaker 3>They So there is this expectation here. So we are

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<v Speaker 3>seeing shares of Pfizer charging higher here up about two

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<v Speaker 3>point seven percent right now. That's Tacker Pfe here, And

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<v Speaker 3>so this is the announcement about plans to lower prescription

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<v Speaker 3>drug prices. Of course, we know this is an event

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<v Speaker 3>alongside Trump and including across the board reductions on US

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<v Speaker 3>prices more broadly, but Americans that are enrolled in the

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<v Speaker 3>US Medicare insurance program will received the most favored nation

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<v Speaker 3>pricing on some of Pfizer's medicines, and Pfiser role launch

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<v Speaker 3>direct to consumer sales of drugs at substantial discounts through

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<v Speaker 3>Trump Our ex.

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<v Speaker 2>Trump our X. That's a thing.

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<v Speaker 3>That's a thing.

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<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

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<v Speaker 2>news on Wall Street and for the latest market moving headlines.

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