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 of the stocks on the move today. We're joined by Bloomberg's Nora Melinda Nor. What are you looking at?
Well, there are a plethora of companies to choose from that are declining. I'm looking at shares of Ecostar. This is ticker SATs. Of course, we know this is the company that essentially since satellites into space with the entire goal of making the US or really the globe here a place that has no coverage gap, so everyone should have cell phone signal wherever they go. But apparently they are getting some pushback. Of course, the government really is
saying that they're not properly utilizing their spectrum services. They say that this is a scarce resource for the public, and so they are now decommissioning parts of the five G network that they're not currently using. But this is really pulling them back from the goal that they had
of becoming a fourth major US wireless carrier. Here, we did have Ecostar reporting that had a sixteen point five billion dollar charge and agreed to sell more spectrum licenses to Elon Musk's SpaceX for two point six billion dollars as it continues to work to unwind some of those parts of its five G wireless network.
Just sell the spectrum, Just sell it and move on with it. Stocks up two hundred percent. We waited fifteen years for this over this performance over the last year. I mean literally, they used to fly us down to French Guiana whenever launching his satellites back in the day. That was always so you're like, come on, just finish it off, right, Yeah. So that was when they were starting out dish. So that was way back in the day. And then Charlie bought all the spectrum and everybody said,
nobody wants that fourth wireless. Never buy them, sell them and let's get out of here.
But they are at more than two hundred percent year today.
I want to get to know that performance. We've waited fifteen years. Go ahead, Well, let's look.
At the beauty space. We're looking at shares of ELF Beauty that's ticker ELF. We're seeing shares tumbling for double digit losses earlier, down as much as thirty four percent. This is the worst date of the company has seen in seven years. But I mean, of course, if you look on a year today basis, we're all seen a stock down about thirty eight percent, So not the best year that we've been seeing here. But essentially the company cut its full year outlooks for EPs and didn't cut
it sorry excuse me. It adjusted miss expectations from Wall Street here in terms of its full year outlooks for adjusted EPs and net sales, both of those missing expectations here. And also are still saying that they remain positive about Road, which we know Haley Bieber, wife of Justin Bieber. She is a makeup line called Road. They are still positive on that business there, the partnership there, but they do see weakness in terms of their actual products that ELF has been creating.
Mark Stalels told me, you have to invest in your face.
I don't know you do, and you know it's noticeable if during a time of economic softness, if people are not spending as much on makeup, which is not expensive and here he's cheap already.
All I know is during the pandemic, everything in the world is shut down. It's for store out the door people were going that was essential, that was essential.
Or lastly, looking at the car space, we're looking at shares of CarMax as a sticker km. We're seeing the stock syncing today the lowest level since twenty twelve. Anas is really warning of margin pressure here. But the company did terminate its CEO over lagging sales, and of course we know the stock has really taken a nose dive so far this year. Stock is down about fifty eight
percent so far in twenty twenty five. But we really are seeing a lot of people just really just grappling with and trying to understand here the termination of the CEO, and you're really starting to see that drag here on the company. As we're looking at the trade today.
This Stock Movers 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.