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Bloomberg's normal Inda here with some stocks on the move today and Nora get us started with Verizon.
Yes, Verizon and EchoStar in focus ticker VZ for Verizon and SATs here for EchoStar. We're looking at the two companies right now. We've got echo Star shares jumping after news that it will be engaging in some talks to sell some of its wireless spectrum to Verizon Communications. If you look more broadly, this stock has really been on a tear this year, up two hundred and thirty percent
so far here today. And of course this news with Verizon in terms of the conversations that they're having definitely follows what we were looking at back in late August about AT and T buying some spectrum licenses from EchoStar for about twenty three billion dollars in cash here, so we know echo Star really has relationships with a few of these other companies AT and T, SpaceX as well, so lots to really dig into for this company. Really seeing some strong gains here for investors.
Again about time.
We've waited for a dozen years for these returns, So there we go. Okay, what else?
Also looking at shares of Spotify, that's take our spot here, sliding down as much as five point six percent. That's the worst since July here in terms of daily performance. And this is after news that at CEO Daniel Eck is stepping aside after leading the company for almost two decades here he was one of the co founders of the company, but they will be promoting two people here that were co presidents. They will be jointly running the
company moving forward here. But of course, this has really been a challenging time more broadly when you think about Spotify and a lot of these streaming different platforms here, especially as you think about AI kind of coming in and kind of challenging the order here. So it's a bit of a time of flux right now, especially with growth slowing to its lowest rate in years, especially as we have streaming kind of maturing in some of those
major markets here. So definitely a lot going on there with Spotify seeing a slide of as much as five point six percent.
And I'm just bracing myself for more price hikes from Spotify as well. I know, speaking of prices, Noura, you're looking at Pfizer because there's reports and expectations that it will cut some drug prices in a deal with President Trump, right, I mean.
They So there is this expectation here. So we are seeing shares of Pfizer charging higher here up about two point seven percent right now. That's Tacker Pfe here, And so this is the announcement about plans to lower prescription
drug prices. Of course, we know this is an event alongside Trump and including across the board reductions on US prices more broadly, but Americans that are enrolled in the US Medicare insurance program will received the most favored nation pricing on some of Pfizer's medicines, and Pfiser role launch direct to consumer sales of drugs at substantial discounts through Trump Our ex.
Trump our X. That's a thing.
That's a thing.
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