WEBVTT - Bed Bath & Beyond Soars; UPS and Spotify Lower

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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. Let's take a look

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<v Speaker 1>at some stocks on the move today. I'm Tom Keen

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<v Speaker 1>with Paul Sweeney and Bloomberg's Alexis Christophers.

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<v Speaker 2>It's a podcast. I've got a non tech company I'm

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<v Speaker 2>going to start with, and that's Bed Bath and Beyond.

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<v Speaker 2>It is up twenty eight percent and it's come back

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<v Speaker 2>from bankruptcy three years ago. Continues here. Did you say Jersey?

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<v Speaker 1>Yep?

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<v Speaker 2>Is that where it's based? Yeah, it was based in

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<v Speaker 2>Milbourn or Springfield. Leave it to Paul the whispered Jersey

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<v Speaker 2>off to the left. All right, So, Bed Bath and

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<v Speaker 2>Beyond reporting its first quarter of meaningful top line growth

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<v Speaker 2>in nineteen quarters. It said revenue is being driven by

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<v Speaker 2>stronger brand awareness. It's got a lot of brands. I

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<v Speaker 2>don't even know if you realize Bye bye Baby, Kirkland's overstock,

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<v Speaker 2>and it just added the containers store to its portfolio.

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<v Speaker 2>The container store used to be down here of our buility.

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<v Speaker 2>So basically every consumer store in Manhattan sub merger pretty

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<v Speaker 2>much pretty much. It's inching closer to profitability, operating in

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<v Speaker 2>net losses or shrinking continues to operate on a lower

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<v Speaker 2>cost basis. The last time I was in bed Beth

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<v Speaker 2>and man Nixon was president, and the answer is there's

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<v Speaker 2>too much stuff in the store. It's kind of a yeah,

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<v Speaker 2>I did like it, though, I must say it might

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<v Speaker 2>be a girl thing. Web Bush raised its bed Bath

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<v Speaker 2>and Beyond price target to to eight dollars from seven dollars.

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<v Speaker 2>Let's move on to music. Spotify. Well, actually, it's so

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<v Speaker 2>much more than music now, right. It's got audio, books, podcasts, yeah,

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<v Speaker 2>including stock movers.

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<v Speaker 1>There you go.

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<v Speaker 2>So it's down eight percent today. It added more premium

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<v Speaker 2>subscribers than expected in the first quarter, so that's good news.

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<v Speaker 2>It just cut a deal with Peloton. Now it's going

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<v Speaker 2>to offer Peloton on demand classes for folks who are

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<v Speaker 2>premium subscribers of Spotify. But that's not really impressing Wall Street.

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<v Speaker 2>It's underwhelming them. Operating income in the current quarter missed

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<v Speaker 2>estimates and its outlook because it's always about the outlook,

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<v Speaker 2>right when it comes to these earnings, Spotify is saying

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<v Speaker 2>premium subscriber growth is not going to meet Wall Street expectations.

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<v Speaker 2>So they have a new CEO earlier this year after

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<v Speaker 2>their other CEO. Their founder was there for two decades,

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<v Speaker 2>and the stock's having a tough time of it. It's

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<v Speaker 2>down fifteen percent so far this year.

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<v Speaker 1>My kids will only use Spotify. I'm exclusively. Really title

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<v Speaker 1>title sounds better, and my kids won't switch. They're like,

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<v Speaker 1>I do, that's right, that's their thing.

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<v Speaker 2>I should. I'm affle music, but I think I'm going

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<v Speaker 2>to start shopping around look out really yeah, all right,

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<v Speaker 2>I don't know if Tim Cook listening. Well, now we

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<v Speaker 2>have a new person coming in. That's right. Yeah, Ups down,

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<v Speaker 2>you're finally on fire, like you're pumped up for stock

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<v Speaker 2>movers tomorrow and the next day because I'm thinking ahead,

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<v Speaker 2>yes to all of the big numbers, special expanded stock

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<v Speaker 2>movers tomorrow. One more. Okay, Ups down five percent. Here's

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<v Speaker 2>the problem. Earnings came in better than expected, so did revenue,

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<v Speaker 2>but it left its financial guidance unchanged, and FedEx, which

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<v Speaker 2>is its rival, didn't do that. FedEx actually bumped up

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<v Speaker 2>guidance just about a week ago. So UPS continuing to

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<v Speaker 2>really suffer from a lot of the things its rivals

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<v Speaker 2>are suffering. From erratic trade policy, rising fuel costs, just

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<v Speaker 2>trying to overhaul US delivery network.

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<v Speaker 1>The Stock Mover's Report from Bloomberg Radio. Check back with

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