1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,280 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,800 --> 00:00:18,599 Speaker 3: Let's take a look at some stocks on the move today. 5 00:00:18,600 --> 00:00:22,040 Speaker 3: I'm Nathan Hager, joined by Bloomberg's Valerie Titel on a 6 00:00:22,120 --> 00:00:25,680 Speaker 3: slightly down morning, more broadly, Valerie, but we've got some 7 00:00:25,760 --> 00:00:29,440 Speaker 3: big movers on both ends, including a big move to 8 00:00:29,480 --> 00:00:33,320 Speaker 3: the upside this morning for EchoStar. Good morning, Hey, good. 9 00:00:33,200 --> 00:00:37,040 Speaker 1: Morning, Nathaniel. Let's start with EchoStar. Shares are trading hire 10 00:00:37,120 --> 00:00:40,400 Speaker 1: by over seven percent so far in pre market trade, 11 00:00:40,400 --> 00:00:43,640 Speaker 1: and this comes after there are more people eyeing some 12 00:00:43,800 --> 00:00:47,320 Speaker 1: of its assets, Bloomberg reporting that Verizon is in talks 13 00:00:47,680 --> 00:00:51,760 Speaker 1: to purchase some of EchoStar's wireless spectrum. Now, these licenses 14 00:00:52,200 --> 00:00:55,960 Speaker 1: are valuable in carrying five G signals, and EchoStar is 15 00:00:56,000 --> 00:00:59,080 Speaker 1: selling them off the back of an FCC probe earlier 16 00:00:59,080 --> 00:01:03,000 Speaker 1: in the year. Previously, ATNT and SpaceX have bought some 17 00:01:03,040 --> 00:01:06,480 Speaker 1: of EchoStar's assets and they paid at a price above 18 00:01:06,640 --> 00:01:09,520 Speaker 1: book value. So it's looking like EchoStar could have another 19 00:01:09,600 --> 00:01:12,440 Speaker 1: cash cow deal on its hands. And that's what's raising 20 00:01:12,520 --> 00:01:13,399 Speaker 1: the stock this morning. 21 00:01:13,720 --> 00:01:16,040 Speaker 3: And on the other side of the coin, the biggest 22 00:01:16,080 --> 00:01:20,560 Speaker 3: downside mover not living up to its name Firefly Aerospace. 23 00:01:21,040 --> 00:01:23,800 Speaker 1: Yeah, the stock is in the red, trading down ten 24 00:01:23,880 --> 00:01:27,119 Speaker 1: percent so far in pre market trade. They had yet 25 00:01:27,160 --> 00:01:31,080 Speaker 1: another rocket launch that went awry, after a similar mishap 26 00:01:31,160 --> 00:01:34,920 Speaker 1: back in April. Now, Firefly operates in the very competitive 27 00:01:35,000 --> 00:01:38,640 Speaker 1: satellite launch business, creates rockets to launch them into orbit, 28 00:01:39,000 --> 00:01:42,760 Speaker 1: the space dominated by SpaceX, and this company still has 29 00:01:42,760 --> 00:01:45,040 Speaker 1: a lot to prove that it can compete in this sector. 30 00:01:45,160 --> 00:01:48,040 Speaker 1: They went public back in August at a share price 31 00:01:48,080 --> 00:01:51,120 Speaker 1: of forty five dollars a share. It's now trading at 32 00:01:51,160 --> 00:01:53,640 Speaker 1: thirty three dollars a share of this pre market trade 33 00:01:53,640 --> 00:01:56,440 Speaker 1: hold so trading at a twenty five percent discount to 34 00:01:56,480 --> 00:01:57,360 Speaker 1: their IPO price. 35 00:01:57,680 --> 00:02:00,680 Speaker 3: Now, we had some red headline news on job cuts 36 00:02:00,680 --> 00:02:03,680 Speaker 3: at Exxon Mobile. Valerie is that moving. 37 00:02:03,480 --> 00:02:05,720 Speaker 1: The stock at all? So, look, it's not moving the 38 00:02:05,720 --> 00:02:08,360 Speaker 1: stock that much, but it's an interesting story to highlight. 39 00:02:08,440 --> 00:02:11,440 Speaker 1: So Exon Mobiles trading unchanged at the moment. But they 40 00:02:11,480 --> 00:02:15,320 Speaker 1: did announce a plan to cut two thousand jobs globally 41 00:02:15,440 --> 00:02:18,600 Speaker 1: as a part of a long term restructuring plan. Now, 42 00:02:18,600 --> 00:02:22,400 Speaker 1: the reductions announced would represent around three to four percent 43 00:02:22,560 --> 00:02:26,000 Speaker 1: of Exxon's total workforce and a part of the company's 44 00:02:26,440 --> 00:02:29,320 Speaker 1: ongoing efficiency drive. But it really is a sign of 45 00:02:29,360 --> 00:02:33,200 Speaker 1: the times, Nathan. Many oil producers are reducing workforce numbers, 46 00:02:33,480 --> 00:02:37,480 Speaker 1: be it Chevron, Conical, Phillips, or BP among those major 47 00:02:37,520 --> 00:02:40,240 Speaker 1: oil companies that have announced thousands of job cups in 48 00:02:40,320 --> 00:02:43,480 Speaker 1: recent months on the back of crude oil prices tumbling 49 00:02:43,639 --> 00:02:46,880 Speaker 1: this year, and to note there are down today as 50 00:02:46,919 --> 00:02:49,280 Speaker 1: well after having the worst session in two months. 51 00:02:49,440 --> 00:02:52,360 Speaker 3: Yes, it's not just the oil majors that are going 52 00:02:52,400 --> 00:02:55,640 Speaker 3: through strategic reviews of sorts. We're also seeing some of 53 00:02:55,639 --> 00:02:57,399 Speaker 3: that in the beauty space as well. 54 00:02:57,480 --> 00:02:57,679 Speaker 2: Yeah. 55 00:02:58,280 --> 00:03:01,160 Speaker 1: Yeah, the beauty brand Cody rising on the back of 56 00:03:01,200 --> 00:03:04,400 Speaker 1: this restructuring announcement of one and a half percent. According 57 00:03:04,480 --> 00:03:08,240 Speaker 1: to a statement, the company has begun a strategic review 58 00:03:08,400 --> 00:03:12,760 Speaker 1: of its consumer beauty brands to refocus on fragrances. Now. 59 00:03:12,840 --> 00:03:16,639 Speaker 1: Cody is the company behind CoverGirl, Max Factor ryml Sally 60 00:03:16,680 --> 00:03:22,080 Speaker 1: Hanson Management is considering partnerships, spinoffs, divestorshers, as more as 61 00:03:22,120 --> 00:03:24,880 Speaker 1: a part of its assessment. Now, Cody shares have declined 62 00:03:25,040 --> 00:03:27,679 Speaker 1: forty two percent year to date, they struggle to turn 63 00:03:27,720 --> 00:03:31,560 Speaker 1: around sales and have seen three consecutive quarters of declining revenue, 64 00:03:31,600 --> 00:03:33,960 Speaker 1: so a statement from the company that a strategic review 65 00:03:34,000 --> 00:03:36,080 Speaker 1: is in place, boosting the shares slightly high. 66 00:03:36,200 --> 00:03:41,640 Speaker 2: This morning the stock moover's report from Bloomberg Radio. Check 67 00:03:41,680 --> 00:03:44,000 Speaker 2: back with us throughout the day for the latest roundup 68 00:03:44,040 --> 00:03:47,000 Speaker 2: of companies making news on Wall Street and for the 69 00:03:47,080 --> 00:03:51,480 Speaker 2: latest market moving headlines. Listen to Bloomberg Radio Live, catch 70 00:03:51,560 --> 00:03:55,040 Speaker 2: us on YouTube, Bloomberg dot com, and on Applecarplay and 71 00:03:55,040 --> 00:03:57,480 Speaker 2: Android Auto with the Bloomberg Business app.