Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data. Let's take a look
Speaker 1: at some stocks on the move today. I'm Tom Keen
Speaker 1: with Paul Sweeney and Bloomberg's Alexis Christophers.
Speaker 2: It's a podcast. I've got a non tech company I'm
Speaker 2: going to start with, and that's Bed Bath and Beyond.
Speaker 2: It is up twenty eight percent and it's come back
Speaker 2: from bankruptcy three years ago. Continues here. Did you say Jersey?
Speaker 1: Yep?
Speaker 2: Is that where it's based? Yeah, it was based in
Speaker 2: Milbourn or Springfield. Leave it to Paul the whispered Jersey
Speaker 2: off to the left. All right, So, Bed Bath and
Speaker 2: Beyond reporting its first quarter of meaningful top line growth
Speaker 2: in nineteen quarters. It said revenue is being driven by
Speaker 2: stronger brand awareness. It's got a lot of brands. I
Speaker 2: don't even know if you realize Bye bye Baby, Kirkland's overstock,
Speaker 2: and it just added the containers store to its portfolio.
Speaker 2: The container store used to be down here of our buility.
Speaker 2: So basically every consumer store in Manhattan sub merger pretty
Speaker 2: much pretty much. It's inching closer to profitability, operating in
Speaker 2: net losses or shrinking continues to operate on a lower
Speaker 2: cost basis. The last time I was in bed Beth
Speaker 2: and man Nixon was president, and the answer is there's
Speaker 2: too much stuff in the store. It's kind of a yeah,
Speaker 2: I did like it, though, I must say it might
Speaker 2: be a girl thing. Web Bush raised its bed Bath
Speaker 2: and Beyond price target to to eight dollars from seven dollars.
Speaker 2: Let's move on to music. Spotify. Well, actually, it's so
Speaker 2: much more than music now, right. It's got audio, books, podcasts, yeah,
Speaker 2: including stock movers.
Speaker 1: There you go.
Speaker 2: So it's down eight percent today. It added more premium
Speaker 2: subscribers than expected in the first quarter, so that's good news.
Speaker 2: It just cut a deal with Peloton. Now it's going
Speaker 2: to offer Peloton on demand classes for folks who are
Speaker 2: premium subscribers of Spotify. But that's not really impressing Wall Street.
Speaker 2: It's underwhelming them. Operating income in the current quarter missed
Speaker 2: estimates and its outlook because it's always about the outlook,
Speaker 2: right when it comes to these earnings, Spotify is saying
Speaker 2: premium subscriber growth is not going to meet Wall Street expectations.
Speaker 2: So they have a new CEO earlier this year after
Speaker 2: their other CEO. Their founder was there for two decades,
Speaker 2: and the stock's having a tough time of it. It's
Speaker 2: down fifteen percent so far this year.
Speaker 1: My kids will only use Spotify. I'm exclusively. Really title
Speaker 1: title sounds better, and my kids won't switch. They're like,
Speaker 1: I do, that's right, that's their thing.
Speaker 2: I should. I'm affle music, but I think I'm going
Speaker 2: to start shopping around look out really yeah, all right,
Speaker 2: I don't know if Tim Cook listening. Well, now we
Speaker 2: have a new person coming in. That's right. Yeah, Ups down,
Speaker 2: you're finally on fire, like you're pumped up for stock
Speaker 2: movers tomorrow and the next day because I'm thinking ahead,
Speaker 2: yes to all of the big numbers, special expanded stock
Speaker 2: movers tomorrow. One more. Okay, Ups down five percent. Here's
Speaker 2: the problem. Earnings came in better than expected, so did revenue,
Speaker 2: but it left its financial guidance unchanged, and FedEx, which
Speaker 2: is its rival, didn't do that. FedEx actually bumped up
Speaker 2: guidance just about a week ago. So UPS continuing to
Speaker 2: really suffer from a lot of the things its rivals
Speaker 2: are suffering. From erratic trade policy, rising fuel costs, just
Speaker 2: trying to overhaul US delivery network.
Speaker 1: The Stock Mover's Report from Bloomberg Radio. Check back with
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Speaker 1: making news on Wall Street and for the latest market
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