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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 Lisa Mateo without stock Movers. You got it, Okay.
Let's start with satellite TV company Echo Star. Their shares have been up as much as eight percent, so sources saying yes, it's in talks to sell some of their wireless spectrum to Verizon Communications. Echo Star. They've been trying to get out of bankruptcy right resolve this FCC investigation, so they've been selling off, you know, rights of the airwaves. Last month SpaceX, AT and T we've heard about and AT CEO said they're going to consider parting with additional wireless spectrum.
Two chairman and co founder Paul Brief is here yep. And Charles William.
Ergan Charlie Ergan, satellite television pioneer kind of like John Malone, investors will follow him.
Blind you Diversity of Tennessee.
Yeah, phenomenal money maker for shareholders except for the last ten years, he bought a bunch of wireless spectrum and either build a wireless network which nobody else needs in this country, or you sell that spectrum to somebody else and make a lot of money. He's now finally selling that spectrum to someone else's making a lot of money. No, but he's been, he's been in the market. The market's forcing him to see.
Want to point out mister finally was a young kid in the black when all this was a big deal.
Now age seventy two, please continue.
Stock movers, Yes, Spotify ticker spot Their share has been down as much as four percent. The big reason why is because they've had this change in leadership. It's founder is going to step down as CEO next year, going to move to executive chairman, and then he'll be replaced by two new co chief executive officers. So you have one guy, Gustav Saderstrom, he's the chief Product technology officer. Then you have Alex Nordstrom, he's a chief business officer.
And they're starting January first. But Spotify has been going through a couple of changes and they're just trying to get things right, to make things for the customers. Increasing their prices too I should.
Have listened to Afterthought. I'm like Afterthought, I'm untitled.
She goes, I want Spotify Paul from the bottom of covid, the puppies from one hundred to seven hundred.
It's just extraordinary company, a great technology.
You on Spotify. No good morning to the Philippines.
I'm in Rome with a bunch of Philippines people and that's how they listen to Bloomberg.
So the founder's like forty two and he's kind of stucking down.
I don't know, all right, Okay, next year I do.
We have to get to beauty. Tom come on and Cody shares up nearly three percent. They're beauty brands right, like Cover Girl, Max Factor, Saley Hanson. They've been struggling right to draw those shoppers in. So they're going to bring this strategic review consumer beauty brands, reworking their portfolio right, the cosmetic labels, refocusing on fragrances because actually fragrances is
their best thing. The only thing I want to make across is that it does not include their higher end beauty division, which is like Gucci, Fortalklin, like those type.
Of they're not part of it.
They're not part of it.
Yes, also Kylie Cosmetics, which I know my daughter is very Yes.
Yes, Kyler boy.
So I'm looking at it, Paul, and there's no revenue growth. I mean I got ten percent revenue growth in twenty twenty four. Loss is to single digit. Now you bring down to ebitdad to a merely mortal eighteen cents on the dollar, and that income isn't happening. Nope, free cash flow is sort of temped to south.
I mean, what do you do? Blow it up?
I don't know.
I thought this was a good business. So what do you do? Stephi? You want to weigh in here? The problem is you two wouldn't be caught dead behind a Max Factor company.
Now that's a lot of them, you know, like in the pharmacy stores. That's where you kind of find a lot of them too. But no, the kids and myself, I know, I go, I like the higher higher end than that.
Yeah. Really cute.
Yeah, I wi is king invests in your face.
That's what they said this 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.