EchoStar-SpaceX Latest; Estee Lauder Reports; Innovio Soars

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0:08 The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.

0:16 Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Dan Curtis, sniffing out earnings this morning. We heard from Estee Lauder.

0:25 Good morning, Dan.

0:27 Good morning, Nathan.

0:28 That's right.

0:28 Estee Lauder is up about 2.5% in the pre-market under ticker EL. The company reported better than expected fiscal first quarter earnings with organic growth in every region topping targets. This is really a story about demands for fragrances, which is helping spur the growth. The more affordable lines like Killian's Cocktail Collection was the fastest growing brand last quarter.

0:48 I wasn't familiar with it. It is actually inspired by cocktails.

0:52 Oh, okay, that explains that. Yeah, I was actually a.

0:55 Bit confused going into that. They do not have an old-fashioned or a Manhattan fragrance, which would probably add one more customer from me. But that's what's doing well. And the company also launched Glimmer, a high-end fragrance promoted by actress Hailee Steinfeld this summer, and it was supposed to be one of the most significant new fragrance launches for the company in years. So the stock is up 2.5%.

1:18 The market's really enjoying the earnings this morning.

1:22 Well, the biggest gainer among mega caps in the pre-market is Echo Star, Dan. Some news around that stock coming out of the Washington Post, I guess.

1:33 That's right. So they reported that SpaceX has held talk with Boost Mobile's parent company, which is EchoStar, in recent months about launching its own signature wireless service through a deal with the company. That's according to people familiar. That has EchoStar's stock up 5.7% in pre-market. Now, the people said the deal may result in SpaceX acquiring Boost Mobile or gaining access to its network. So that's also lifting SpaceX a bit this morning as well. That stock is up 2%. It comes after reports a few weeks ago that SpaceX was looking to access at least 80,000 US cell sites to build up the terrestrial, the ground-based footprint as well to bring about this mobile. So it looks like SpaceX is moving forward with its plan to have

2:16 a mobile service soon. So who knows? It might be a new provider that we could all have in our pockets.

2:22 Okay.

2:22 Well, moving into smaller cap stocks, my goodness, what a move for Inovio. What's happening there?

2:30 Up 220% in the pre-market this morning. It's one of the reasons why people like biotech is there's so much volatility here. It is erasing what had been 65% losses year to date. So big gain after some big losses. But it got accelerated FDA approval for one of its immunotherapy drugs. It treats growths in airways caused by RRP. Basically, a 32-patient trial, seven didn't need surgery in first year after treatment. So that's seen as a positive for this company, big positive. That said, Inovio still must conduct post-approval trials to verify the clinical benefit. It has a competitor called Presagen.

3:10 That share is down 19% pre-market.

3:13 Okay, we'll be keeping an eye on that for sure. And while we wait for earnings from Apple after the closing bell today, we're seeing another big tech company make another move into the debt market, Dan.

3:24 That's right. So it's Alphabet. Those shares are up 1%. And this is also a little bit of a bounce from Friday. Shares fell 1% as kind of this overall AI spending concerns loomed. But Alphabet is still testing the market. It's kicking off its second sale of Euro bonds this year. It's a seven-part offering, according to people familiar. And again, last week, we saw a huge pushback over AI spending.

3:47 The Alphabet's coming to market and testing that theory out this week with another bond sale.

3:53 The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street. And for the latest market-moving headlines, listen to Bloomberg Radio live. Catch us on YouTube, Bloomberg.com, and on Apple CarPlay and Android Auto with the Bloomberg Business app.