WEBVTT - EchoStar Drops, Elf Beauty Sinks, CarMax Slumps After Terminating CEO

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data.

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<v Speaker 2>Let's take a look at some of the stocks on

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<v Speaker 2>the move today. We're joined by Bloomberg's Nora Melinda Nor.

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<v Speaker 2>What are you looking at?

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<v Speaker 3>Well, there are a plethora of companies to choose from

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<v Speaker 3>that are declining. I'm looking at shares of Ecostar. This

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<v Speaker 3>is ticker SATs. Of course, we know this is the

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<v Speaker 3>company that essentially since satellites into space with the entire

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<v Speaker 3>goal of making the US or really the globe here

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<v Speaker 3>a place that has no coverage gap, so everyone should

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<v Speaker 3>have cell phone signal wherever they go. But apparently they

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<v Speaker 3>are getting some pushback. Of course, the government really is

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<v Speaker 3>saying that they're not properly utilizing their spectrum services. They

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<v Speaker 3>say that this is a scarce resource for the public,

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<v Speaker 3>and so they are now decommissioning parts of the five

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<v Speaker 3>G network that they're not currently using. But this is

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<v Speaker 3>really pulling them back from the goal that they had

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<v Speaker 3>of becoming a fourth major US wireless carrier. Here, we

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<v Speaker 3>did have Ecostar reporting that had a sixteen point five

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<v Speaker 3>billion dollar charge and agreed to sell more spectrum licenses

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<v Speaker 3>to Elon Musk's SpaceX for two point six billion dollars

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<v Speaker 3>as it continues to work to unwind some of those

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<v Speaker 3>parts of its five G wireless network.

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<v Speaker 2>Just sell the spectrum, Just sell it and move on

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<v Speaker 2>with it. Stocks up two hundred percent. We waited fifteen

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<v Speaker 2>years for this over this performance over the last year.

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<v Speaker 2>I mean literally, they used to fly us down to

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<v Speaker 2>French Guiana whenever launching his satellites back in the day.

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<v Speaker 2>That was always so you're like, come on, just finish

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<v Speaker 2>it off, right, Yeah. So that was when they were

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<v Speaker 2>starting out dish. So that was way back in the day.

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<v Speaker 2>And then Charlie bought all the spectrum and everybody said,

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<v Speaker 2>nobody wants that fourth wireless. Never buy them, sell them

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<v Speaker 2>and let's get out of here.

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<v Speaker 3>But they are at more than two hundred percent year today.

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<v Speaker 2>I want to get to know that performance. We've waited

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<v Speaker 2>fifteen years. Go ahead, Well, let's look.

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<v Speaker 3>At the beauty space. We're looking at shares of ELF

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<v Speaker 3>Beauty that's ticker ELF. We're seeing shares tumbling for double

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<v Speaker 3>digit losses earlier, down as much as thirty four percent.

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<v Speaker 3>This is the worst date of the company has seen

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<v Speaker 3>in seven years. But I mean, of course, if you

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<v Speaker 3>look on a year today basis, we're all seen a

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<v Speaker 3>stock down about thirty eight percent, So not the best

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<v Speaker 3>year that we've been seeing here. But essentially the company

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<v Speaker 3>cut its full year outlooks for EPs and didn't cut

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<v Speaker 3>it sorry excuse me. It adjusted miss expectations from Wall

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<v Speaker 3>Street here in terms of its full year outlooks for

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<v Speaker 3>adjusted EPs and net sales, both of those missing expectations here.

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<v Speaker 3>And also are still saying that they remain positive about Road,

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<v Speaker 3>which we know Haley Bieber, wife of Justin Bieber. She

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<v Speaker 3>is a makeup line called Road. They are still positive

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<v Speaker 3>on that business there, the partnership there, but they do

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<v Speaker 3>see weakness in terms of their actual products that ELF

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<v Speaker 3>has been creating.

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<v Speaker 2>Mark Stalels told me, you have to invest in your face.

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<v Speaker 3>I don't know you do, and you know it's noticeable

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<v Speaker 3>if during a time of economic softness, if people are

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<v Speaker 3>not spending as much on makeup, which is not expensive

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<v Speaker 3>and here he's cheap already.

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<v Speaker 2>All I know is during the pandemic, everything in the

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<v Speaker 2>world is shut down. It's for store out the door

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<v Speaker 2>people were going that was essential, that was essential.

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<v Speaker 3>Or lastly, looking at the car space, we're looking at

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<v Speaker 3>shares of CarMax as a sticker km. We're seeing the

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<v Speaker 3>stock syncing today the lowest level since twenty twelve. Anas

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<v Speaker 3>is really warning of margin pressure here. But the company

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<v Speaker 3>did terminate its CEO over lagging sales, and of course

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<v Speaker 3>we know the stock has really taken a nose dive

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<v Speaker 3>so far this year. Stock is down about fifty eight

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<v Speaker 3>percent so far in twenty twenty five. But we really

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<v Speaker 3>are seeing a lot of people just really just grappling

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<v Speaker 3>with and trying to understand here the termination of the CEO,

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<v Speaker 3>and you're really starting to see that drag here on

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<v Speaker 3>the company. As we're looking at the trade today.

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<v Speaker 1>This Stock Movers report from Bloomberg Radio. Check back with

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