Stock Movers EchoStar Jumps, CRH Surges, Spotify Drops on CEO Change
Sep 30, 2025
Shares of EchoStar surged after the company entered talks to sell its wireless spectrum to Verizon, marking a significant turnaround in its financial fortunes. Meanwhile, CRH saw its stock hit a record high as it announced ambitious midterm revenue targets tied to booming global infrastructure spending. In a surprising shift, Spotify's shares dipped following the news of CEO Daniel Ek stepping down, leaving investors wondering about the company's future leadership and growth potential.
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Spectrum Sales Rescue EchoStar
- EchoStar is monetizing long-held wireless spectrum through deals with carriers to generate cash and avoid bankruptcy.
- The company's shares rallied as investors priced in spectrum-sale potential despite regulatory hurdles.
Charlie Ergen's Long Wait Pays Off
- Bailey recounts Charlie Ergen buying spectrum over a decade ago and waiting for value realization.
- She frames the situation as a long-held bet now paying off for shareholders and bondholders.
CRH Lays Out Midterm Growth Targets
- CRH set midterm targets projecting steady revenue growth and improved adjusted EBITDA margins to 2030.
- The market responded positively because the targets slightly exceeded Wall Street expectations and highlighted infrastructure demand.