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 3: Let's take a look at some stocks on the move today.
Speaker 3: I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Mateo
Speaker 3: without stock Movers. You got it, Okay.
Speaker 4: Let's start with satellite TV company Echo Star. Their shares
Speaker 4: have been up as much as eight percent, so sources
Speaker 4: saying yes, it's in talks to sell some of their
Speaker 4: wireless spectrum to Verizon Communications. Echo Star. They've been trying
Speaker 4: to get out of bankruptcy right resolve this FCC investigation,
Speaker 4: so they've been selling off, you know, rights of the airwaves.
Speaker 4: Last month SpaceX, AT and T we've heard about and
Speaker 4: AT CEO said they're going to consider parting with additional
Speaker 4: wireless spectrum.
Speaker 3: Two chairman and co founder Paul Brief is here yep.
Speaker 3: And Charles William.
Speaker 5: Ergan Charlie Ergan, satellite television pioneer kind of like John Malone,
Speaker 5: investors will follow him.
Speaker 3: Blind you Diversity of Tennessee.
Speaker 5: Yeah, phenomenal money maker for shareholders except for the last
Speaker 5: ten years, he bought a bunch of wireless spectrum and
Speaker 5: either build a wireless network which nobody else needs in
Speaker 5: this country, or you sell that spectrum to somebody else
Speaker 5: and make a lot of money. He's now finally selling
Speaker 5: that spectrum to someone else's making a lot of money. No,
Speaker 5: but he's been, he's been in the market. The market's
Speaker 5: forcing him to see.
Speaker 1: Want to point out mister finally was a young kid
Speaker 1: in the black when all this was a big deal.
Speaker 3: Now age seventy two, please continue.
Speaker 4: Stock movers, Yes, Spotify ticker spot Their share has been
Speaker 4: down as much as four percent. The big reason why
Speaker 4: is because they've had this change in leadership. It's founder
Speaker 4: is going to step down as CEO next year, going
Speaker 4: to move to executive chairman, and then he'll be replaced
Speaker 4: by two new co chief executive officers. So you have
Speaker 4: one guy, Gustav Saderstrom, he's the chief Product technology officer.
Speaker 4: Then you have Alex Nordstrom, he's a chief business officer.
Speaker 4: And they're starting January first. But Spotify has been going
Speaker 4: through a couple of changes and they're just trying to
Speaker 4: get things right, to make things for the customers. Increasing
Speaker 4: their prices too I should.
Speaker 3: Have listened to Afterthought. I'm like Afterthought, I'm untitled.
Speaker 1: She goes, I want Spotify Paul from the bottom of covid,
Speaker 1: the puppies from one hundred to seven hundred.
Speaker 5: It's just extraordinary company, a great technology.
Speaker 3: You on Spotify. No good morning to the Philippines.
Speaker 1: I'm in Rome with a bunch of Philippines people and
Speaker 1: that's how they listen to Bloomberg.
Speaker 5: So the founder's like forty two and he's kind of
Speaker 5: stucking down.
Speaker 3: I don't know, all right, Okay, next year I do.
Speaker 4: We have to get to beauty. Tom come on and
Speaker 4: Cody shares up nearly three percent. They're beauty brands right,
Speaker 4: like Cover Girl, Max Factor, Saley Hanson. They've been struggling
Speaker 4: right to draw those shoppers in. So they're going to
Speaker 4: bring this strategic review consumer beauty brands, reworking their portfolio right,
Speaker 4: the cosmetic labels, refocusing on fragrances because actually fragrances is
Speaker 4: their best thing. The only thing I want to make
Speaker 4: across is that it does not include their higher end
Speaker 4: beauty division, which is like Gucci, Fortalklin, like those type.
Speaker 3: Of they're not part of it.
Speaker 5: They're not part of it.
Speaker 4: Yes, also Kylie Cosmetics, which I know my daughter is
Speaker 4: very Yes.
Speaker 5: Yes, Kyler boy.
Speaker 1: So I'm looking at it, Paul, and there's no revenue growth.
Speaker 1: I mean I got ten percent revenue growth in twenty
Speaker 1: twenty four. Loss is to single digit. Now you bring
Speaker 1: down to ebitdad to a merely mortal eighteen cents on
Speaker 1: the dollar, and that income isn't happening. Nope, free cash
Speaker 1: flow is sort of temped to south.
Speaker 3: I mean, what do you do? Blow it up?
Speaker 5: I don't know.
Speaker 3: I thought this was a good business. So what do
Speaker 3: you do? Stephi? You want to weigh in here? The
Speaker 3: problem is you two wouldn't be caught dead behind a
Speaker 3: Max Factor company.
Speaker 4: Now that's a lot of them, you know, like in
Speaker 4: the pharmacy stores. That's where you kind of find a
Speaker 4: lot of them too. But no, the kids and myself,
Speaker 4: I know, I go, I like the higher higher end
Speaker 4: than that.
Speaker 3: Yeah. Really cute.
Speaker 5: Yeah, I wi is king invests in your face.
Speaker 2: That's what they said this stock Mover's report from Bloomberg Radio.
Speaker 2: Check back with us throughout the day for the latest
Speaker 2: roundup of companies making news on Wall Street and for
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