WEBVTT - EchoStar Jumps; Spotify Leadership Change; Coty Strategy

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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 3>Let's take a look at some stocks on the move today.

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<v Speaker 3>I'm Tom Keen with Paul Sweeney and Bloomberg's Lisa Mateo

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<v Speaker 3>without stock Movers. You got it, Okay.

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<v Speaker 4>Let's start with satellite TV company Echo Star. Their shares

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<v Speaker 4>have been up as much as eight percent, so sources

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<v Speaker 4>saying yes, it's in talks to sell some of their

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<v Speaker 4>wireless spectrum to Verizon Communications. Echo Star. They've been trying

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<v Speaker 4>to get out of bankruptcy right resolve this FCC investigation,

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<v Speaker 4>so they've been selling off, you know, rights of the airwaves.

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<v Speaker 4>Last month SpaceX, AT and T we've heard about and

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<v Speaker 4>AT CEO said they're going to consider parting with additional

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<v Speaker 4>wireless spectrum.

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<v Speaker 3>Two chairman and co founder Paul Brief is here yep.

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<v Speaker 3>And Charles William.

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<v Speaker 5>Ergan Charlie Ergan, satellite television pioneer kind of like John Malone,

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<v Speaker 5>investors will follow him.

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<v Speaker 3>Blind you Diversity of Tennessee.

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<v Speaker 5>Yeah, phenomenal money maker for shareholders except for the last

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<v Speaker 5>ten years, he bought a bunch of wireless spectrum and

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<v Speaker 5>either build a wireless network which nobody else needs in

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<v Speaker 5>this country, or you sell that spectrum to somebody else

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<v Speaker 5>and make a lot of money. He's now finally selling

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<v Speaker 5>that spectrum to someone else's making a lot of money. No,

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<v Speaker 5>but he's been, he's been in the market. The market's

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<v Speaker 5>forcing him to see.

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<v Speaker 1>Want to point out mister finally was a young kid

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<v Speaker 1>in the black when all this was a big deal.

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<v Speaker 3>Now age seventy two, please continue.

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<v Speaker 4>Stock movers, Yes, Spotify ticker spot Their share has been

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<v Speaker 4>down as much as four percent. The big reason why

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<v Speaker 4>is because they've had this change in leadership. It's founder

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<v Speaker 4>is going to step down as CEO next year, going

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<v Speaker 4>to move to executive chairman, and then he'll be replaced

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<v Speaker 4>by two new co chief executive officers. So you have

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<v Speaker 4>one guy, Gustav Saderstrom, he's the chief Product technology officer.

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<v Speaker 4>Then you have Alex Nordstrom, he's a chief business officer.

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<v Speaker 4>And they're starting January first. But Spotify has been going

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<v Speaker 4>through a couple of changes and they're just trying to

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<v Speaker 4>get things right, to make things for the customers. Increasing

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<v Speaker 4>their prices too I should.

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<v Speaker 3>Have listened to Afterthought. I'm like Afterthought, I'm untitled.

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<v Speaker 1>She goes, I want Spotify Paul from the bottom of covid,

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<v Speaker 1>the puppies from one hundred to seven hundred.

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<v Speaker 5>It's just extraordinary company, a great technology.

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<v Speaker 3>You on Spotify. No good morning to the Philippines.

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<v Speaker 1>I'm in Rome with a bunch of Philippines people and

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<v Speaker 1>that's how they listen to Bloomberg.

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<v Speaker 5>So the founder's like forty two and he's kind of

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<v Speaker 5>stucking down.

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<v Speaker 3>I don't know, all right, Okay, next year I do.

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<v Speaker 4>We have to get to beauty. Tom come on and

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<v Speaker 4>Cody shares up nearly three percent. They're beauty brands right,

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<v Speaker 4>like Cover Girl, Max Factor, Saley Hanson. They've been struggling

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<v Speaker 4>right to draw those shoppers in. So they're going to

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<v Speaker 4>bring this strategic review consumer beauty brands, reworking their portfolio right,

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<v Speaker 4>the cosmetic labels, refocusing on fragrances because actually fragrances is

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<v Speaker 4>their best thing. The only thing I want to make

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<v Speaker 4>across is that it does not include their higher end

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<v Speaker 4>beauty division, which is like Gucci, Fortalklin, like those type.

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<v Speaker 3>Of they're not part of it.

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<v Speaker 5>They're not part of it.

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<v Speaker 4>Yes, also Kylie Cosmetics, which I know my daughter is

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<v Speaker 4>very Yes.

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<v Speaker 5>Yes, Kyler boy.

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<v Speaker 1>So I'm looking at it, Paul, and there's no revenue growth.

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<v Speaker 1>I mean I got ten percent revenue growth in twenty

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<v Speaker 1>twenty four. Loss is to single digit. Now you bring

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<v Speaker 1>down to ebitdad to a merely mortal eighteen cents on

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<v Speaker 1>the dollar, and that income isn't happening. Nope, free cash

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<v Speaker 1>flow is sort of temped to south.

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<v Speaker 3>I mean, what do you do? Blow it up?

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<v Speaker 5>I don't know.

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<v Speaker 3>I thought this was a good business. So what do

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<v Speaker 3>you do? Stephi? You want to weigh in here? The

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<v Speaker 3>problem is you two wouldn't be caught dead behind a

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<v Speaker 3>Max Factor company.

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<v Speaker 4>Now that's a lot of them, you know, like in

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<v Speaker 4>the pharmacy stores. That's where you kind of find a

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<v Speaker 4>lot of them too. But no, the kids and myself,

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<v Speaker 4>I know, I go, I like the higher higher end

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<v Speaker 4>than that.

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<v Speaker 3>Yeah. Really cute.

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<v Speaker 5>Yeah, I wi is king invests in your face.

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<v Speaker 2>That's what they said this stock Mover's report from Bloomberg Radio.

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<v Speaker 2>Check back with us throughout the day for the latest

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<v Speaker 2>roundup of companies making news on Wall Street and for

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