Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: This is the closing bell on the stock movers report
Speaker 2: the companies making moves at the close of US trading
Speaker 2: with Carol Masser, Tim Stenoveck, Romain Bostik, and Katie Greyfell.
Speaker 3: All right, guys, let's get to some of the individual
Speaker 3: gainers if I may, in the Thursday session, So let's
Speaker 3: get to it. Brown Foreman definitely some outperformance there, bottoms
Speaker 3: up everybody on nine point six percent to the upside,
Speaker 3: Pernde Richard. I think I'm saying it nice. WELLO, all right, thanks,
Speaker 3: thanks guys. Exploring a potential acquisition of Brown Foreman, the
Speaker 3: owner of Jack Daniels Whiskey. As alcoholic drink companies look
Speaker 3: for ways to consolidate amid an industry down to downturn.
Speaker 3: Deliberations are ongoing, new certainty that they will result in
Speaker 3: a deal, but nonetheless, investors certainly got keen on that one. Hey,
Speaker 3: let's go on over to some of the car rental companies.
Speaker 3: Tim and I were just talking about it on our
Speaker 3: n You saw Hurts Global up about nine and a
Speaker 3: half percent, excuse me, about nine point two percent to
Speaker 3: the upside. Avis budget again of about thirteen percent in
Speaker 3: today's session. And this is what's happening. Travelers across the
Speaker 3: country looking at those lines, being on those lines, are
Speaker 3: looking for different options, and so they are seeing maybe
Speaker 3: that they rent a car rather than fly somewhere. Traffic
Speaker 3: to Hurts Global, their website jumped about fifteen percent this
Speaker 3: week as customers look for ways around the congestion at
Speaker 3: US airports. The company has been promoting discounts a last
Speaker 3: minute reservations in one way rentals, so we did definitely see.
Speaker 1: Hurts up today.
Speaker 3: We also saw AVS as well, up almost thirteen percent.
Speaker 3: I got to tell you, AVS is up close to
Speaker 3: I think fifty percent in the month of March, putting
Speaker 3: it on track for its best months since October of
Speaker 3: twenty twenty two. So quite a run there. And one
Speaker 3: more for you. This was of my co host Inmstanebek.
Speaker 3: I don't know if he uses it, but Oliplex holdings.
Speaker 1: I do not. There you go, I do you wash
Speaker 1: my hair?
Speaker 4: That's awesome.
Speaker 3: I'm so happy about that. Great soaring at a percentage basis.
Speaker 3: Keep in mind it's about a two dollars stock a
Speaker 3: two dollars one cent up fifty one percent. Today, Hankel
Speaker 3: agreed to buy Oloplex Holdings, the haircare brand that developed
Speaker 3: a cult following its shampoos and other treatments. At the
Speaker 3: one point four billion dollar deal, Henkel's going to pay
Speaker 3: about two oh six a share for Oloplex, according to
Speaker 3: a statement today that confirmed our reporting.
Speaker 1: Do you like it?
Speaker 2: I used to do.
Speaker 4: It was hot for a while anymore then. I feel
Speaker 4: like there were some nasty reports about it. But I
Speaker 4: thought the whole thing was that it would like glue together.
Speaker 4: Your split ends.
Speaker 1: Well, it's based in Santa Barbara. That's all Bailey and
Speaker 1: I need to know about it.
Speaker 3: I did like it for a while.
Speaker 4: I liked the color, like the golden oil.
Speaker 3: Anyways, some reports about hair I think.
Speaker 1: I think we are supposed to move on now to
Speaker 1: some of the definers. I know you've thought well on
Speaker 1: the board and see where we're starting. Oh, look at
Speaker 1: that sand disc fell by eleven percent today for Nate,
Speaker 1: I added one at the end. As you're normally you
Speaker 1: complain about how there's nothing to choose from today, it
Speaker 1: was like the entire market for you in embarrassment. It's true,
Speaker 1: it's true. I'm very lucky that we have such a
Speaker 1: great team in the control room that can all right, yeah,
Speaker 1: thank you. So sand disc fell today by more than
Speaker 1: eleven percent. This after well, Google publicized research on new
Speaker 1: algorithm that could allow more efficient use of storage needed
Speaker 1: for AI development. So we saw a handful of names
Speaker 1: move lower on this news. Snap Shares also under pressure today.
Speaker 1: The EU investigating Snap social network to examine how it
Speaker 1: verifies users ages and tackles grooming and criminal activities that
Speaker 1: target underage users. Snap shares finishing just off their lows,
Speaker 1: but still down ten point seven percent. And here's a
Speaker 1: really interesting one. This is Miller Nol, the maker and
Speaker 1: designer of office furniture, fell today by twenty two percent.
Speaker 3: Look at that line.
Speaker 1: I know all day. Well, it recorded earnings late yesterday.
Speaker 1: I think I think it was late yesterday if I'm correct.
Speaker 1: The company expects about a one hundred and twenty five
Speaker 1: basis point hit to growth related to the conflict in
Speaker 1: the Middle East, lost volume, as well as higher transportation
Speaker 1: costs from the increase in oil prices. William Blair analysts
Speaker 1: say that's expected away on EPs during the fourth quarter
Speaker 1: by about ten cents. Look at this hit down twenty
Speaker 1: two zero point four percent today. Also, finally, because there
Speaker 1: was so much lower today, we do have to give
Speaker 1: a shout out to the mag seven stocks that ended
Speaker 1: up falling today, which was all seven of them except
Speaker 1: for Apple, which was barely higher by one tenth of
Speaker 1: one percent. That A Platforms fell by eight percent just
Speaker 1: a day after that ruling, or the jury. What the
Speaker 1: jury found in California and then in Video is down
Speaker 1: more than four percent, Tesla down more than three point
Speaker 1: six percent, Katie, I.
Speaker 4: Don't know if that's a shout out or it's a
Speaker 4: poor one out, because that's another ugly line there. Let's
Speaker 4: talk about the bond market. Another selloff, this time infixed income,
Speaker 4: and you can see really it was across the curve,
Speaker 4: the two year yield in particular higher by about eleven
Speaker 4: basis points. We did get another auction today, this time
Speaker 4: of seven year notes that also didn't exactly get a
Speaker 4: warm reception. So that's three auctions this week, twos, fives,
Speaker 4: and sevens that tailed, So certainly we demand there. So
Speaker 4: this selloff, I mean, it's cross asset. The only thing
Speaker 4: that really rose was oil, which has been the dynamic
Speaker 4: for a while now.
Speaker 3: All right, so let's get to some stories that definitely
Speaker 3: caught our attention. We have one about Netflix what they're doing.
Speaker 3: Haven't seen this in about a year, but they're raising
Speaker 3: subscription prices by as much as two dollars a month.
Speaker 3: Standard streaming with ads up about a dollar to eight
Speaker 3: ninety nine per month. That's the first time to maingest
Speaker 3: a year. Standard plan without ads rose by two dollars.
Speaker 3: And then you like to live with a premium plan,
Speaker 3: don't you?
Speaker 1: That's the one where you can watch multiple things at once.
Speaker 3: Right, isn't it? Isn't that your world?
Speaker 4: Why would you want that?
Speaker 1: I think some I think some people what they do
Speaker 1: is they like I've heard they have different family members
Speaker 1: in different places. They use a source familiar. But now
Speaker 1: although Netflix is really cracked down on this, so you here,
Speaker 1: Netflix is really cracked down on this. Yeah, premium plan
Speaker 1: climb climbing two dollars to twenty six ninety nine, adding
Speaker 1: to inflation. That's all I'm going to say.
Speaker 2: I'm paying more at the pump, and now I'm going
Speaker 2: to have to have my brother pay more on Netflix.
Speaker 1: Or whoever's Netflix are using, is going to have to
Speaker 1: pay more for my family members. I pay for Apple music.
Speaker 1: So that's all I bring to the table.
Speaker 3: I think they I think they started continuing investment, but
Speaker 3: didn't they just get like two point eight billion dollars
Speaker 3: in a breakup fee.
Speaker 1: Yeah, but they're going to They are spending a lot
Speaker 1: of money on content.
Speaker 4: Yeah. Before we go, I do want to quickly bring
Speaker 4: our attention to another story on the Bloomberg terminal today
Speaker 4: getting a lot of eyeballs, and that is crypto is
Speaker 4: entering the mortgage market via basically crypto act mortgages. Better
Speaker 4: Home and Finance Corp Corporation and Coinbase are launching a
Speaker 4: product that links digital assets to down payments on Fanny
Speaker 4: May eligible home loans. I'm really curious what the uptake
Speaker 4: looks like.
Speaker 1: Here you can pledge your bitcoin as collateral to buy
Speaker 1: a house at the market peak. I don't see anything
Speaker 1: that can go wrong. Guys, I don't know about you. Yeah,
Speaker 1: so you don't possibly. It's just so you don't have
Speaker 1: to sell your crypto if you want to. You want
Speaker 1: to hoddle that crypto Bailey forever. It's total. It's an
Speaker 1: appreciating asset, is what I mean. So they don't sell
Speaker 1: it right away, No, you pledge it borrowers pledge bitcoin
Speaker 1: and USDC stable coin its collateral for a separate loan
Speaker 1: used to fund the down payment, rather than selling those
Speaker 1: assets to raise cash.
Speaker 3: What could possibly go wrong anyway, but anyday. We like
Speaker 3: disruption and innovation, so we'll keep an eye on that one.
Speaker 2: The Stock Mover's Report from Bloomberg Radio. Check back with
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Speaker 2: companies making news on Wall Street and for the latest
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