On this episode of Stock Movers:
- US shares of Spotify Technology (SPOT) are down. This comes as they report first-quarter results tomorrow before the market opens in New York. Investors will be looking for more details about when and how the company will raise prices. It is reportedly planning an increase in Europe as soon as June. The Swedish streaming platform is looking for ways to fuel earnings growth, particularly in video. On Monday, the company said it paid $100 million to podcast publishers and creators in the first quarter. The company will also share an update on the video creator program that launched in January.
- Boeing (BA) are up after Bernstein upgrades to outperform from market perform noting that the aircraft maker is now “making the progress it needed for the growth trajectory.” Analysts did note that while they can't assume all the risks are gone, after high FAA scrutiny, BCA (Boeing Commercial Airplanes) should be on a much firmer path than in 2023”.
- Plug Power (PLUG) shares jumped the most in nearly a year after the hydrogen company announced a $525 million secured debt facility, said it doesn’t plan to raise more equity in 2025 and reported preliminary first-quarter results in line with analysts’ estimates. Plug expects to report revenue of $130 million to $134 million when it releases its full first-quarter results in early May, versus a consensus estimate of $131.6 million. The company also reported completing construction of a hydrogen production plant in Louisiana that will serve customers including Amazon.com Inc. and Walmart Inc.
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