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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,

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Speaker 1: your roundup of companies making moves in the stock market,

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Speaker 1: harnessing the power of Bloomberg data. Let's take a look

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Speaker 1: at some stocks on the move today, and we're joined

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Speaker 1: by Bloombergs so COVID they need to what are you

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Speaker 1: looking at?

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Speaker 2: Let's start with Amazon. Obviously there has been a big

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Speaker 2: turnaround story, but we just saw UBS cutting the target

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Speaker 2: of Amazon to two hundred and fifty three doors from

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Speaker 2: two hundred and seventy two doors. It maintains the by rating.

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Speaker 2: What has been happening today brought the stock down as

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Speaker 2: much as two percent, but it's still underwater. Of course,

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Speaker 2: Amazon says it was never under consideration to display the

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Speaker 2: cost of tars on products. What we saw earlier today

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Speaker 2: as reporting that this was indeed the case, and the

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Speaker 2: White House Press Secretary said that this is a hostile act.

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Speaker 2: And obviously there there is a lot of voted with

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Speaker 2: the stock, and we've sow retailers like Shane, we saw Tamil,

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Speaker 2: We saw a lot of discussions of how are they

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Speaker 2: going to display those prices and that is really an

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Speaker 2: important thing for consumers. We saw that. The questions at

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Speaker 2: the press conference was like, does that mean that consumers

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Speaker 2: will indeed pay more? So a lot of pressure there.

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Speaker 2: The stock is still down for today, but of course

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Speaker 2: a lot of the earlier losses are reversed.

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Speaker 3: Actually, and you mentioned Raymond James downgrading the stock, Heaarny, Right,

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Speaker 3: so yeah, downgrading. Yeah, so just like a double way there.

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Speaker 3: So Spotify, what's going on here?

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Speaker 2: Yeah? With Spotify share stumboat as much as eight percent

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Speaker 2: in earlier trading. Some of that losses every verse. The

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Speaker 2: streaming company reported operating profit that miss estimate. That's said,

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Speaker 2: the report wasn't bad. We saw a big gaining subscriber

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Speaker 2: which was way more than Alice expected, and the company

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Speaker 2: predicted the subscribers reached two hundred and sixty eight millions,

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Speaker 2: which is the twelve per head of percent. It's amazing. Yeah,

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Speaker 2: it's really good. We know the company has been pushing

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Speaker 2: into audiobooks, podcasts, even video content to compete with YouTube,

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Speaker 2: but of course that has committed price. We know that

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Speaker 2: they raised their subscriber p to twelve dollars a month,

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Speaker 2: but that has been helping the stock is a twenty

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Speaker 2: five percent year today. Despite the pressure that we have

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Speaker 2: seen today still a very strong year after two years

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Speaker 2: of two hundred more than two one to one hundred games.

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Speaker 1: The Stock Movers podcast from Bloomberg Radio. Check back with

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Speaker 1: us throughout the day for the latest roundup of companies

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