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Fly News Breaks for June 24, 2019
SPOT
Jun 24, 2019 | 09:20 EDT
As previously reported, Evercore ISI analyst Kevin Rippey downgraded Spotify to Underperform from In Line and lowered his price target on the shares to $110 from $125, stating that the recent rally in the stock "reflects an overly optimistic view" on the company's gross margin path and potential label negotiation outcomes. He does not see a way for Spotify to generate the gross profits "demanded by Street estimates" in the medium-term, Rippey tells investors. The risk "is real" that publisher rates go higher per the existing Copyright Royalty Board ruling and SensorTower data shows that competition at the country level is far more intense than suggested by global aggregates, the analyst said.
News For SPOT From the Last 2 Days
SPOT
Mar 28, 2024 | 16:23 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
SPOT
Mar 28, 2024 | 15:22 EDT
What has Wall Street been buzzing about this week? Here are the top 5 Bu-y calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 25-28. Find all top-rated... To see the rest of the story go to thefly.com. See Story Here
SPOT
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
SPOT
Mar 28, 2024 | 10:04 EDT
Universal Music Group (UMGNF) and Spotify (SPOT) announced an expansion of their strategic relationship that will "further amplify music discovery and social interaction and enhance fan experiences across the platform for UMG's family of artists and songwriters." "Under the agreement, Spotify will make available a series of new promotional and social features that will help artists drive interaction and generate excitement around new releases. To start, UMG artists will have the ability to share teasers of upcoming music on Spotify to increase fan engagement and pre-save activity before a new release. Additionally, a new agreement with Universal Music Publishing Group will enable Spotify to distribute music videos in the US, enabling deeper experiences with the songs, the artists, and the songwriters. The companies will continue to explore additional features that allow fans to discover artists and propel virality of new releases. They will share more details about these new tools and how artists, songwriters and fans can leverage them in the near future," the companies stated.
SPOT
Mar 27, 2024 | 15:57 EDT
Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news. GOVERNMENT SCRUTINY: The Biden... To see the rest of the story go to thefly.com. See Story Here