Dear friends,
Here the news of the top today's Market Movers (Part 2 of 2):
? $SPOT (Spotify ) -7.49%
Spotify Technology – Down more than 4% premarket despite reporting quarterly results this morning that beat estimates. Premium subscribers, which account for most of the company's revenue, were up 21% to 158 million from a year earlier. Analysts on average were expecting the company to have 157.5 million paid subscribers. Revenue rose to 2.15 billion euros for the three months ended March 31, from 1.85 billion euros a year earlier. Analysts were expecting revenue of 2.14 billion euros. The streaming service, which has been boosting its podcast business, on Tuesday launched a paid subscription platform for podcasters to challenge a similar service unveiled by Apple.
? $FB (Facebook) 2.02%
Higher in the premarket ahead of earnings after the close tonight, announced its working on new monetizable tools for its Instagram platform as well as ecommerce, stores for creators who use Facebook.
? $OCGN (Ocugen Inc) -4.37%
Down sharply premarket for the second straight session after another impressive late day rally yesterday. The stock has doubled since the company released further promising data on its covid-19 vaccine being worked on with India's Bharat Biotech.
? $BA (Boeing) -1.02%
Reported a smaller quarterly loss, helped by an improvement in aircraft deliveries as its 737 MAX jets come back on line. A new electric problem found on some models of the jet earlier this month, has cast concerns on it's plan to increase production rates of 31 planes per month by early 2022. The U.S. planemaker reported a core operating loss of $353 million in the first quarter ended March 31, compared with a loss of $1.70 billion a year earlier. Boeing said it recorded a pre-tax charge of $318 million in the quarter related to a new fleet of Air Force One presidential aircraft based on its 747-8 jumbo jet
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