Why Google Inc (NASDAQ:GOOG) is interest to Revamp Elizabeth Arden Inc. (NASDAQ:RDEN) with Youtube, Dicks Sporting Goods Inc. (NYSE:DKS) Medtronic Inc. (NYSE:MDT),

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By Jessica Schultz on August 21, 2014 Company

As a part of its aim to continuously bring its customers something new and innovative, Google Inc (NASDAQ:GOOG) is yet again ready to offer a better experience to its customers. The company is ready to give its Google Play Music service a revamp by rebranding it by pairing the service with a brand new subscription plan of YouTube. This subscription plan will be completely ads-free and will only cost its users $10 each month. This new service by the biggest US web search giant and the largest video streaming and sharing website will be called “YouTube Music Key”. Apart from offering ad-free service, YouTube Music Key will offer just audio playback, offline playback, recommendations of new songs based on your browsing history and customized playlists. To introduce customers to this new service Google Inc (NASDAQ:GOOG) plans to offer one month free subscription. This inside news regarding the new Music Key came from Android Police.

As far as earnings of the company are concerned, the Google Inc (NASDAQ:GOOG) shares are already witnessing a boom of 5.6 percent and trading at 0.52 percent, right behind the S&P 500.

During the premarket session held on Tuesday Elizabeth Arden Inc. (NASDAQ:RDEN) jumped 23 percent. However, it is important to note that the company faced heavy losses in the fourth quarter of its fiscal year. This loss was bigger than the expected decline in the sales of celebrity fragrances and hence, pushed down the revenue considerably. It is reported that these drops were much bigger than the targets given by Wall Street. The company also reported that investment funds related to Rhône Capital L.L.C. plan to purchase preferred stocks of the company that are worth $50 million. Moreover, they will acquire purchase warrants for company’s 2.5M Common Shares at a value of $20.39 each, thus showing approximately company’s 7.6% shares that are outstanding.

On the other hand, Medtronic Inc. (NYSE:MDT) is currently involved with closing its deal for purchasing Covidien plc (NYSE:COV), which is currently under scrutiny by the US government because of a tax tactic that was a bit controversial. This firm, unlike Elizabeth Arden Inc. (NASDAQ:RDEN), broke targets for the first-quarter mainly because of its operations in the US. The shares of this medical devices manufacturer were up by 0.22 percent in the morning.

Similarly, Dicks Sporting Goods Inc. (NYSE:DKS) set a new record even after witnessing a fall in its revenue. Shares of the company rose to 6 percent even though the second quarter of the fiscal year showed a 17 percent decline in profits, primarily due to an increase in costs and restructuring charges.

The new YouTube Music Key is currently facing problems regarding its licensing but it is expected that the service would be available for use before the end of this year. Although Google Inc (NASDAQ:GOOG) has currently refused to comment on any news regarding its soon-to-be-released service, based on several reports the speculations made by Android Police could be quite accurate.