WEBVTT - Closing Bell: Brown-Forman Jumps, Hertz Soars, SanDisk Tumbles

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>This is the closing bell on the stock movers report

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<v Speaker 2>the companies making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenoveck, Romain Bostik, and Katie Greyfell.

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<v Speaker 3>All right, guys, let's get to some of the individual

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<v Speaker 3>gainers if I may, in the Thursday session, So let's

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<v Speaker 3>get to it. Brown Foreman definitely some outperformance there, bottoms

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<v Speaker 3>up everybody on nine point six percent to the upside,

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<v Speaker 3>Pernde Richard. I think I'm saying it nice. WELLO, all right, thanks,

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<v Speaker 3>thanks guys. Exploring a potential acquisition of Brown Foreman, the

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<v Speaker 3>owner of Jack Daniels Whiskey. As alcoholic drink companies look

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<v Speaker 3>for ways to consolidate amid an industry down to downturn.

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<v Speaker 3>Deliberations are ongoing, new certainty that they will result in

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<v Speaker 3>a deal, but nonetheless, investors certainly got keen on that one. Hey,

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<v Speaker 3>let's go on over to some of the car rental companies.

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<v Speaker 3>Tim and I were just talking about it on our

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<v Speaker 3>n You saw Hurts Global up about nine and a

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<v Speaker 3>half percent, excuse me, about nine point two percent to

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<v Speaker 3>the upside. Avis budget again of about thirteen percent in

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<v Speaker 3>today's session. And this is what's happening. Travelers across the

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<v Speaker 3>country looking at those lines, being on those lines, are

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<v Speaker 3>looking for different options, and so they are seeing maybe

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<v Speaker 3>that they rent a car rather than fly somewhere. Traffic

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<v Speaker 3>to Hurts Global, their website jumped about fifteen percent this

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<v Speaker 3>week as customers look for ways around the congestion at

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<v Speaker 3>US airports. The company has been promoting discounts a last

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<v Speaker 3>minute reservations in one way rentals, so we did definitely see.

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<v Speaker 1>Hurts up today.

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<v Speaker 3>We also saw AVS as well, up almost thirteen percent.

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<v Speaker 3>I got to tell you, AVS is up close to

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<v Speaker 3>I think fifty percent in the month of March, putting

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<v Speaker 3>it on track for its best months since October of

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<v Speaker 3>twenty twenty two. So quite a run there. And one

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<v Speaker 3>more for you. This was of my co host Inmstanebek.

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<v Speaker 3>I don't know if he uses it, but Oliplex holdings.

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<v Speaker 1>I do not. There you go, I do you wash

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<v Speaker 1>my hair?

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<v Speaker 4>That's awesome.

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<v Speaker 3>I'm so happy about that. Great soaring at a percentage basis.

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<v Speaker 3>Keep in mind it's about a two dollars stock a

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<v Speaker 3>two dollars one cent up fifty one percent. Today, Hankel

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<v Speaker 3>agreed to buy Oloplex Holdings, the haircare brand that developed

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<v Speaker 3>a cult following its shampoos and other treatments. At the

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<v Speaker 3>one point four billion dollar deal, Henkel's going to pay

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<v Speaker 3>about two oh six a share for Oloplex, according to

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<v Speaker 3>a statement today that confirmed our reporting.

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<v Speaker 1>Do you like it?

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<v Speaker 2>I used to do.

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<v Speaker 4>It was hot for a while anymore then. I feel

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<v Speaker 4>like there were some nasty reports about it. But I

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<v Speaker 4>thought the whole thing was that it would like glue together.

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<v Speaker 4>Your split ends.

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<v Speaker 1>Well, it's based in Santa Barbara. That's all Bailey and

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<v Speaker 1>I need to know about it.

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<v Speaker 3>I did like it for a while.

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<v Speaker 4>I liked the color, like the golden oil.

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<v Speaker 3>Anyways, some reports about hair I think.

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<v Speaker 1>I think we are supposed to move on now to

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<v Speaker 1>some of the definers. I know you've thought well on

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<v Speaker 1>the board and see where we're starting. Oh, look at

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<v Speaker 1>that sand disc fell by eleven percent today for Nate,

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<v Speaker 1>I added one at the end. As you're normally you

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<v Speaker 1>complain about how there's nothing to choose from today, it

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<v Speaker 1>was like the entire market for you in embarrassment. It's true,

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<v Speaker 1>it's true. I'm very lucky that we have such a

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<v Speaker 1>great team in the control room that can all right, yeah,

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<v Speaker 1>thank you. So sand disc fell today by more than

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<v Speaker 1>eleven percent. This after well, Google publicized research on new

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<v Speaker 1>algorithm that could allow more efficient use of storage needed

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<v Speaker 1>for AI development. So we saw a handful of names

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<v Speaker 1>move lower on this news. Snap Shares also under pressure today.

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<v Speaker 1>The EU investigating Snap social network to examine how it

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<v Speaker 1>verifies users ages and tackles grooming and criminal activities that

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<v Speaker 1>target underage users. Snap shares finishing just off their lows,

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<v Speaker 1>but still down ten point seven percent. And here's a

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<v Speaker 1>really interesting one. This is Miller Nol, the maker and

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<v Speaker 1>designer of office furniture, fell today by twenty two percent.

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<v Speaker 3>Look at that line.

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<v Speaker 1>I know all day. Well, it recorded earnings late yesterday.

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<v Speaker 1>I think I think it was late yesterday if I'm correct.

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<v Speaker 1>The company expects about a one hundred and twenty five

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<v Speaker 1>basis point hit to growth related to the conflict in

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<v Speaker 1>the Middle East, lost volume, as well as higher transportation

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<v Speaker 1>costs from the increase in oil prices. William Blair analysts

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<v Speaker 1>say that's expected away on EPs during the fourth quarter

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<v Speaker 1>by about ten cents. Look at this hit down twenty

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<v Speaker 1>two zero point four percent today. Also, finally, because there

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<v Speaker 1>was so much lower today, we do have to give

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<v Speaker 1>a shout out to the mag seven stocks that ended

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<v Speaker 1>up falling today, which was all seven of them except

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<v Speaker 1>for Apple, which was barely higher by one tenth of

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<v Speaker 1>one percent. That A Platforms fell by eight percent just

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<v Speaker 1>a day after that ruling, or the jury. What the

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<v Speaker 1>jury found in California and then in Video is down

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<v Speaker 1>more than four percent, Tesla down more than three point

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<v Speaker 1>six percent, Katie, I.

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<v Speaker 4>Don't know if that's a shout out or it's a

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<v Speaker 4>poor one out, because that's another ugly line there. Let's

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<v Speaker 4>talk about the bond market. Another selloff, this time infixed income,

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<v Speaker 4>and you can see really it was across the curve,

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<v Speaker 4>the two year yield in particular higher by about eleven

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<v Speaker 4>basis points. We did get another auction today, this time

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<v Speaker 4>of seven year notes that also didn't exactly get a

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<v Speaker 4>warm reception. So that's three auctions this week, twos, fives,

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<v Speaker 4>and sevens that tailed, So certainly we demand there. So

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<v Speaker 4>this selloff, I mean, it's cross asset. The only thing

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<v Speaker 4>that really rose was oil, which has been the dynamic

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<v Speaker 4>for a while now.

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<v Speaker 3>All right, so let's get to some stories that definitely

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<v Speaker 3>caught our attention. We have one about Netflix what they're doing.

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<v Speaker 3>Haven't seen this in about a year, but they're raising

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<v Speaker 3>subscription prices by as much as two dollars a month.

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<v Speaker 3>Standard streaming with ads up about a dollar to eight

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<v Speaker 3>ninety nine per month. That's the first time to maingest

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<v Speaker 3>a year. Standard plan without ads rose by two dollars.

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<v Speaker 3>And then you like to live with a premium plan,

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<v Speaker 3>don't you?

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<v Speaker 1>That's the one where you can watch multiple things at once.

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<v Speaker 3>Right, isn't it? Isn't that your world?

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<v Speaker 4>Why would you want that?

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<v Speaker 1>I think some I think some people what they do

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<v Speaker 1>is they like I've heard they have different family members

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<v Speaker 1>in different places. They use a source familiar. But now

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<v Speaker 1>although Netflix is really cracked down on this, so you here,

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<v Speaker 1>Netflix is really cracked down on this. Yeah, premium plan

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<v Speaker 1>climb climbing two dollars to twenty six ninety nine, adding

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<v Speaker 1>to inflation. That's all I'm going to say.

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<v Speaker 2>I'm paying more at the pump, and now I'm going

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<v Speaker 2>to have to have my brother pay more on Netflix.

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<v Speaker 1>Or whoever's Netflix are using, is going to have to

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<v Speaker 1>pay more for my family members. I pay for Apple music.

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<v Speaker 1>So that's all I bring to the table.

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<v Speaker 3>I think they I think they started continuing investment, but

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<v Speaker 3>didn't they just get like two point eight billion dollars

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<v Speaker 3>in a breakup fee.

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<v Speaker 1>Yeah, but they're going to They are spending a lot

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<v Speaker 1>of money on content.

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<v Speaker 4>Yeah. Before we go, I do want to quickly bring

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<v Speaker 4>our attention to another story on the Bloomberg terminal today

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<v Speaker 4>getting a lot of eyeballs, and that is crypto is

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<v Speaker 4>entering the mortgage market via basically crypto act mortgages. Better

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<v Speaker 4>Home and Finance Corp Corporation and Coinbase are launching a

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<v Speaker 4>product that links digital assets to down payments on Fanny

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<v Speaker 4>May eligible home loans. I'm really curious what the uptake

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<v Speaker 4>looks like.

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<v Speaker 1>Here you can pledge your bitcoin as collateral to buy

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<v Speaker 1>a house at the market peak. I don't see anything

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<v Speaker 1>that can go wrong. Guys, I don't know about you. Yeah,

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<v Speaker 1>so you don't possibly. It's just so you don't have

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<v Speaker 1>to sell your crypto if you want to. You want

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<v Speaker 1>to hoddle that crypto Bailey forever. It's total. It's an

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<v Speaker 1>appreciating asset, is what I mean. So they don't sell

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<v Speaker 1>it right away, No, you pledge it borrowers pledge bitcoin

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<v Speaker 1>and USDC stable coin its collateral for a separate loan

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<v Speaker 1>used to fund the down payment, rather than selling those

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<v Speaker 1>assets to raise cash.

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<v Speaker 3>What could possibly go wrong anyway, but anyday. We like

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<v Speaker 3>disruption and innovation, so we'll keep an eye on that one.

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<v Speaker 2>The Stock Mover's Report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest found up of

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<v Speaker 2>companies making news on Wall Street and for the latest

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<v Speaker 2>market moving headlines. Listen to Bloomberg Radio Live, catch us

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