EchoStar Jumps; Spotify Leadership Change; Coty Strategy
On this episode of Stock Movers:
- EchoStar (SATS) is higher as the company engaged in talks to sell some of its wireless spectrum to Verizon Communications Inc. The talks involve EchoStar’s AWS-3 licenses, which the company put a carrying value of $9.8 billion on, according to a regulatory filing.
- Spotify (SPOT) shares are moving on news Chief Executive Officer Daniel Ek is stepping aside, leaving the leadership in the hands of Gustav Söderström and Alex Norström. Ek will continue to provide support and guidance, and said he is "not leaving" but will remain involved in big decisions about the company's future.
- Coty (COTY) is moving on news it has begun a strategic review of its consumer beauty brands to rework its portfolio of mass-market cosmetics labels while refocusing on fragrances.
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