Stock Movers EchoStar Drops, Elf Beauty Sinks, CarMax Slumps After Terminating CEO
Nov 6, 2025
Nora Melinda, a Bloomberg reporter known for her expertise in market summaries, dives into the recent turmoil among several companies. She discusses EchoStar's staggering $16.5 billion impairment charge and its agreement to sell spectrum licenses to SpaceX for $2.6 billion. Nora also highlights Elf Beauty's sharp decline after missing earnings projections, leading to concern in the beauty market. Lastly, she covers CarMax's stock slump following the CEO's termination amid disappointing sales and pressure on margins.
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EchoStar's Big Write-Down And Spectrum Sale
- EchoStar took a massive $16.5 billion impairment as it unwinds parts of its 5G ambitions.
- The company sold more spectrum licenses to SpaceX for $2.6 billion to exit unused network assets.
French Guiana Trips For Early Satellite Launches
- The hosts recalled being flown to French Guiana for early EchoStar satellite launches.
- Those trips reflected the company's earlier ambition to become a fourth major U.S. wireless carrier.
Elf Beauty Misses Forecasts, Shares Plunge
- Elf Beauty missed full-year adjusted EPS and net sales expectations, causing a sharp share decline.
- The company still benefits from the Rhode partnership but faces product weakness amid softer consumer spending.