1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:16,320 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,440 --> 00:00:17,919 Speaker 2: Let's take a look at some of the stocks on 5 00:00:17,920 --> 00:00:20,640 Speaker 2: the move today. We're joined by Bloomberg's Nora Melinda Nor. 6 00:00:20,720 --> 00:00:21,280 Speaker 2: What are you looking at? 7 00:00:21,600 --> 00:00:23,600 Speaker 3: Well, there are a plethora of companies to choose from 8 00:00:23,600 --> 00:00:26,159 Speaker 3: that are declining. I'm looking at shares of Ecostar. This 9 00:00:26,239 --> 00:00:29,000 Speaker 3: is ticker SATs. Of course, we know this is the 10 00:00:29,000 --> 00:00:32,640 Speaker 3: company that essentially since satellites into space with the entire 11 00:00:32,680 --> 00:00:35,880 Speaker 3: goal of making the US or really the globe here 12 00:00:36,000 --> 00:00:38,200 Speaker 3: a place that has no coverage gap, so everyone should 13 00:00:38,240 --> 00:00:41,000 Speaker 3: have cell phone signal wherever they go. But apparently they 14 00:00:41,000 --> 00:00:43,159 Speaker 3: are getting some pushback. Of course, the government really is 15 00:00:43,200 --> 00:00:46,640 Speaker 3: saying that they're not properly utilizing their spectrum services. They 16 00:00:46,680 --> 00:00:48,680 Speaker 3: say that this is a scarce resource for the public, 17 00:00:48,720 --> 00:00:51,600 Speaker 3: and so they are now decommissioning parts of the five 18 00:00:51,640 --> 00:00:54,160 Speaker 3: G network that they're not currently using. But this is 19 00:00:54,200 --> 00:00:56,560 Speaker 3: really pulling them back from the goal that they had 20 00:00:56,600 --> 00:01:00,120 Speaker 3: of becoming a fourth major US wireless carrier. Here, we 21 00:01:00,160 --> 00:01:03,160 Speaker 3: did have Ecostar reporting that had a sixteen point five 22 00:01:03,240 --> 00:01:06,399 Speaker 3: billion dollar charge and agreed to sell more spectrum licenses 23 00:01:06,640 --> 00:01:10,000 Speaker 3: to Elon Musk's SpaceX for two point six billion dollars 24 00:01:10,160 --> 00:01:12,000 Speaker 3: as it continues to work to unwind some of those 25 00:01:12,040 --> 00:01:13,720 Speaker 3: parts of its five G wireless network. 26 00:01:13,959 --> 00:01:16,520 Speaker 2: Just sell the spectrum, Just sell it and move on 27 00:01:16,600 --> 00:01:19,080 Speaker 2: with it. Stocks up two hundred percent. We waited fifteen 28 00:01:19,160 --> 00:01:21,840 Speaker 2: years for this over this performance over the last year. 29 00:01:21,880 --> 00:01:23,320 Speaker 2: I mean literally, they used to fly us down to 30 00:01:23,360 --> 00:01:25,880 Speaker 2: French Guiana whenever launching his satellites back in the day. 31 00:01:26,080 --> 00:01:28,000 Speaker 2: That was always so you're like, come on, just finish 32 00:01:28,080 --> 00:01:29,679 Speaker 2: it off, right, Yeah. So that was when they were 33 00:01:29,720 --> 00:01:32,040 Speaker 2: starting out dish. So that was way back in the day. 34 00:01:32,160 --> 00:01:35,200 Speaker 2: And then Charlie bought all the spectrum and everybody said, 35 00:01:35,240 --> 00:01:38,560 Speaker 2: nobody wants that fourth wireless. Never buy them, sell them 36 00:01:38,560 --> 00:01:39,280 Speaker 2: and let's get out of here. 37 00:01:39,400 --> 00:01:41,119 Speaker 3: But they are at more than two hundred percent year today. 38 00:01:41,160 --> 00:01:43,560 Speaker 2: I want to get to know that performance. We've waited 39 00:01:43,600 --> 00:01:46,600 Speaker 2: fifteen years. Go ahead, Well, let's look. 40 00:01:46,440 --> 00:01:48,400 Speaker 3: At the beauty space. We're looking at shares of ELF 41 00:01:48,480 --> 00:01:52,000 Speaker 3: Beauty that's ticker ELF. We're seeing shares tumbling for double 42 00:01:52,040 --> 00:01:54,800 Speaker 3: digit losses earlier, down as much as thirty four percent. 43 00:01:55,080 --> 00:01:56,680 Speaker 3: This is the worst date of the company has seen 44 00:01:56,720 --> 00:01:58,680 Speaker 3: in seven years. But I mean, of course, if you 45 00:01:58,680 --> 00:02:00,360 Speaker 3: look on a year today basis, we're all seen a 46 00:02:00,360 --> 00:02:02,960 Speaker 3: stock down about thirty eight percent, So not the best 47 00:02:03,000 --> 00:02:05,000 Speaker 3: year that we've been seeing here. But essentially the company 48 00:02:05,240 --> 00:02:09,480 Speaker 3: cut its full year outlooks for EPs and didn't cut 49 00:02:09,480 --> 00:02:13,560 Speaker 3: it sorry excuse me. It adjusted miss expectations from Wall 50 00:02:13,560 --> 00:02:16,160 Speaker 3: Street here in terms of its full year outlooks for 51 00:02:16,200 --> 00:02:19,399 Speaker 3: adjusted EPs and net sales, both of those missing expectations here. 52 00:02:19,600 --> 00:02:22,359 Speaker 3: And also are still saying that they remain positive about Road, 53 00:02:22,400 --> 00:02:24,919 Speaker 3: which we know Haley Bieber, wife of Justin Bieber. She 54 00:02:25,120 --> 00:02:27,639 Speaker 3: is a makeup line called Road. They are still positive 55 00:02:27,680 --> 00:02:30,160 Speaker 3: on that business there, the partnership there, but they do 56 00:02:30,200 --> 00:02:33,640 Speaker 3: see weakness in terms of their actual products that ELF 57 00:02:33,639 --> 00:02:34,240 Speaker 3: has been creating. 58 00:02:34,400 --> 00:02:36,520 Speaker 2: Mark Stalels told me, you have to invest in your face. 59 00:02:36,919 --> 00:02:39,320 Speaker 3: I don't know you do, and you know it's noticeable 60 00:02:39,440 --> 00:02:42,919 Speaker 3: if during a time of economic softness, if people are 61 00:02:42,960 --> 00:02:45,320 Speaker 3: not spending as much on makeup, which is not expensive 62 00:02:45,800 --> 00:02:47,240 Speaker 3: and here he's cheap already. 63 00:02:47,680 --> 00:02:49,400 Speaker 2: All I know is during the pandemic, everything in the 64 00:02:49,440 --> 00:02:51,720 Speaker 2: world is shut down. It's for store out the door 65 00:02:51,800 --> 00:02:54,160 Speaker 2: people were going that was essential, that was essential. 66 00:02:55,040 --> 00:02:58,040 Speaker 3: Or lastly, looking at the car space, we're looking at 67 00:02:58,040 --> 00:03:01,120 Speaker 3: shares of CarMax as a sticker km. We're seeing the 68 00:03:01,120 --> 00:03:05,040 Speaker 3: stock syncing today the lowest level since twenty twelve. Anas 69 00:03:05,040 --> 00:03:08,440 Speaker 3: is really warning of margin pressure here. But the company 70 00:03:08,480 --> 00:03:12,200 Speaker 3: did terminate its CEO over lagging sales, and of course 71 00:03:12,200 --> 00:03:14,720 Speaker 3: we know the stock has really taken a nose dive 72 00:03:14,800 --> 00:03:17,280 Speaker 3: so far this year. Stock is down about fifty eight 73 00:03:17,320 --> 00:03:20,760 Speaker 3: percent so far in twenty twenty five. But we really 74 00:03:20,800 --> 00:03:23,480 Speaker 3: are seeing a lot of people just really just grappling 75 00:03:23,520 --> 00:03:26,480 Speaker 3: with and trying to understand here the termination of the CEO, 76 00:03:26,560 --> 00:03:28,640 Speaker 3: and you're really starting to see that drag here on 77 00:03:28,680 --> 00:03:30,360 Speaker 3: the company. As we're looking at the trade today. 78 00:03:31,600 --> 00:03:35,640 Speaker 1: This Stock Movers report from Bloomberg Radio. Check back with 79 00:03:35,720 --> 00:03:38,280 Speaker 1: us throughout the day for the latest roundup of companies 80 00:03:38,360 --> 00:03:41,440 Speaker 1: making news on Wall Street and for the latest market 81 00:03:41,480 --> 00:03:45,960 Speaker 1: moving headlines. 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