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Stock Movers: Amazon Drops, Spotify Tumbles, UPS Slips After Earnings
Posted
April 29, 2025
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April 29, 2025
800
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3:12Now PlayingGet more equity coverage like this on the Stock Movers podcast from Bloomberg, featuring five-minute episodes on the winners and losers in the stock market.
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On this episode of Stock Movers:
• Amazon (AMZN) shares fall after the White House Press Secretary Karoline Leavitt said that the e-commerce company’s reported decision to display the impact of tariffs on pricing was a “hostile” act. The comments from Leavitt came after Punchbowl News reported that the e-commerce giant would “soon” begin displaying the cost of US tariffs on individual products next to the total listed price. Amazon says it was “never under consideration,” according to an emailed statement.
• Spotify (SPOT) shares tumble after the streaming company reported operating profit that missed estimates even as it saw a surge in subscribers in the first quarter Spotify said the figure was weighed down by more than $86.6 million in social charges, which it has defined as payroll taxes associated with employee salaries and benefits.
• UPS (UPS) shares drop after the company said it expects to cut 20,000 jobs this year and close dozens of facilities as it dramatically reduces shipments for e-commerce giant Amazon.com. UPS said the reduction in its operational workforce — a group that includes delivery drivers and package handlers — is part of a network overhaul in response to expected “lower volumes from our largest customer.”
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