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