Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast,
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, and we're joined
Speaker 1: by Bloombergs so COVID they need to what are you
Speaker 1: looking at?
Speaker 2: Let's start with Amazon. Obviously there has been a big
Speaker 2: turnaround story, but we just saw UBS cutting the target
Speaker 2: of Amazon to two hundred and fifty three doors from
Speaker 2: two hundred and seventy two doors. It maintains the by rating.
Speaker 2: What has been happening today brought the stock down as
Speaker 2: much as two percent, but it's still underwater. Of course,
Speaker 2: Amazon says it was never under consideration to display the
Speaker 2: cost of tars on products. What we saw earlier today
Speaker 2: as reporting that this was indeed the case, and the
Speaker 2: White House Press Secretary said that this is a hostile act.
Speaker 2: And obviously there there is a lot of voted with
Speaker 2: the stock, and we've sow retailers like Shane, we saw Tamil,
Speaker 2: We saw a lot of discussions of how are they
Speaker 2: going to display those prices and that is really an
Speaker 2: important thing for consumers. We saw that. The questions at
Speaker 2: the press conference was like, does that mean that consumers
Speaker 2: will indeed pay more? So a lot of pressure there.
Speaker 2: The stock is still down for today, but of course
Speaker 2: a lot of the earlier losses are reversed.
Speaker 3: Actually, and you mentioned Raymond James downgrading the stock, Heaarny, Right,
Speaker 3: so yeah, downgrading. Yeah, so just like a double way there.
Speaker 3: So Spotify, what's going on here?
Speaker 2: Yeah? With Spotify share stumboat as much as eight percent
Speaker 2: in earlier trading. Some of that losses every verse. The
Speaker 2: streaming company reported operating profit that miss estimate. That's said,
Speaker 2: the report wasn't bad. We saw a big gaining subscriber
Speaker 2: which was way more than Alice expected, and the company
Speaker 2: predicted the subscribers reached two hundred and sixty eight millions,
Speaker 2: which is the twelve per head of percent. It's amazing. Yeah,
Speaker 2: it's really good. We know the company has been pushing
Speaker 2: into audiobooks, podcasts, even video content to compete with YouTube,
Speaker 2: but of course that has committed price. We know that
Speaker 2: they raised their subscriber p to twelve dollars a month,
Speaker 2: but that has been helping the stock is a twenty
Speaker 2: five percent year today. Despite the pressure that we have
Speaker 2: seen today still a very strong year after two years
Speaker 2: of two hundred more than two one to one hundred games.
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