Spotify (SPOT) PT Raised to $140 at Guggenheim
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Apple says it collects fee on less than 1% of Spotify users
June 24, 2019 1:36 PM EDTBy Stephen Nellis
(Reuters) - Music streaming service Spotify Technology SA pays Apple Inc a 15% fee on about 680,000 of its 100 million premium customers, Apple disclosed in a response to Spotify's complaint with European antitrust regulators.
Premium customers pay a monthly fee or are in a free trial of Spotify's premium service, which is ad free. Spotify has a total of 217 million customers including users of its free service.
Apple competes directly with Spotify with its Apple Music service. In March, Spotify filed a complaint with European Union regulators saying that Apple's control of the App Store,... More
Pre-Open Movers 06/24: (PCMI) (NERV) (PTN) (DFRG) (CZR) (ERI) (BMY) (CELG) (SPOT) (more)
June 24, 2019 8:57 AM EDTToday's Pre-Open Stock Movers
PCM, Inc. (NASDAQ: PCMI) +42%; Insight Enterprises (NASDAQ: NSIT), the global provider of Insight Intelligent Technology Solutions for organizations of all sizes, (Insight), and PCM, Inc. (Nasdaq: PCMI), a provider of IT products and services (PCM), have entered into an agreement under which Insight will acquire PCM for $35 per share, representing a 36% premium to its 1-month average closing share price as of Friday, June 21, 2019.
Evercore ISI Downgrades Spotify (SPOT) to Underperform
June 24, 2019 6:11 AM EDTEvercore ISI analyst Kevin Rippey downgraded Spotify (NYSE: SPOT) from In Line to Underperform.
For an analyst ratings summary and ratings history on Spotify click here. For more ratings news on Spotify click here.
Shares of Spotify closed at $145.00 yesterday.
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