1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,280 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:20,880 Speaker 3: I want to bring in Bloomberg Managing editor for Markets 5 00:00:20,920 --> 00:00:24,159 Speaker 3: Live Blog, Christina Quino, to take a look at some 6 00:00:24,200 --> 00:00:27,000 Speaker 3: stocks on the move today. We are joined by Christina 7 00:00:27,000 --> 00:00:30,360 Speaker 3: Aquino here in our Bloomberg studio. Do you have anything 8 00:00:30,520 --> 00:00:33,120 Speaker 3: Christine that's not lower today? 9 00:00:33,200 --> 00:00:34,640 Speaker 1: Yeah? Yeah, how about we start with a little bit 10 00:00:34,680 --> 00:00:35,640 Speaker 1: of a merger Friday? 11 00:00:35,720 --> 00:00:37,560 Speaker 2: Okay, sorry, right, yeah, I want to talk. 12 00:00:37,400 --> 00:00:39,800 Speaker 1: About Brown Foreman, that is, of course the maker of 13 00:00:39,880 --> 00:00:42,360 Speaker 1: Jack Daniels. So those shares is a ticker b F 14 00:00:42,440 --> 00:00:45,800 Speaker 1: slash A for the Class A stock up four point 15 00:00:45,920 --> 00:00:48,640 Speaker 1: nine percent today, so very much in the green, one 16 00:00:48,680 --> 00:00:50,800 Speaker 1: of the few shares in the green. And that is 17 00:00:50,840 --> 00:00:53,519 Speaker 1: because we did get news that Brown Foreman is in 18 00:00:53,680 --> 00:00:56,200 Speaker 1: merger talks with Paranol Recard, who is of course the 19 00:00:56,240 --> 00:01:00,840 Speaker 1: maker of Absolute Vodka and so potentially putting all those 20 00:01:00,880 --> 00:01:03,600 Speaker 1: brands together in one big company. And you know these 21 00:01:03,640 --> 00:01:08,680 Speaker 1: are family run businesses still. Yeah, so the Perno, the 22 00:01:08,760 --> 00:01:12,720 Speaker 1: Recar family very much uh still major shareholders in a Parano. 23 00:01:12,880 --> 00:01:16,000 Speaker 1: And then the descendants of Brown form and founder George 24 00:01:16,040 --> 00:01:19,080 Speaker 1: Garvin Brown apparently still largely control the group. And so 25 00:01:19,400 --> 00:01:22,240 Speaker 1: you know, we'll have to have the family's blessing any 26 00:01:22,240 --> 00:01:24,240 Speaker 1: sort of merger. They're probably going to roll their shares 27 00:01:24,280 --> 00:01:26,680 Speaker 1: into a new company if that's fast. 28 00:01:27,000 --> 00:01:29,880 Speaker 3: If if it comes to pass. A big family in Louisville, Kentucky, 29 00:01:30,160 --> 00:01:34,400 Speaker 3: very well known, and I wonder if they will approve 30 00:01:34,760 --> 00:01:37,080 Speaker 3: of this. Yeah, I mean it comes at a time 31 00:01:37,080 --> 00:01:38,800 Speaker 3: in a really interesting time for the spirits industry. 32 00:01:39,600 --> 00:01:41,280 Speaker 4: Do you go out like no, and you and I 33 00:01:41,319 --> 00:01:42,440 Speaker 4: don't drink, don't drink. 34 00:01:42,240 --> 00:01:45,240 Speaker 3: And that's they don't want. So yeah, this is but 35 00:01:45,319 --> 00:01:49,440 Speaker 3: this is the backdrop that you know, these large liquor 36 00:01:49,440 --> 00:01:50,800 Speaker 3: companies are facing right now. 37 00:01:51,160 --> 00:01:53,400 Speaker 4: Yeah, more and more, especially gen Z. But I think 38 00:01:53,400 --> 00:01:55,240 Speaker 4: we're millennials. Are you a millennial? 39 00:01:55,560 --> 00:01:58,200 Speaker 3: A geriatric millennium, that's what they call. 40 00:01:59,480 --> 00:02:01,680 Speaker 4: Yeah, sure, we all don't drink. 41 00:02:01,720 --> 00:02:02,960 Speaker 3: All right, what else you got for us? 42 00:02:03,000 --> 00:02:05,360 Speaker 1: All right? Sadly, this is a stock that is down today, 43 00:02:05,400 --> 00:02:09,160 Speaker 1: that is Polo Alto's ticker PA and W down more 44 00:02:09,200 --> 00:02:12,280 Speaker 1: than six percent at the moment. It's not actually because 45 00:02:12,320 --> 00:02:15,240 Speaker 1: of news related to Paula Alto specifically but actually news 46 00:02:15,240 --> 00:02:19,000 Speaker 1: related to anthropics. So we did get a fortune report 47 00:02:19,560 --> 00:02:25,000 Speaker 1: raising concerns that anthropics artificial intelligence model called Claude Capybara 48 00:02:25,960 --> 00:02:29,480 Speaker 1: might be used by hackers to skirt cyber defenses, and 49 00:02:29,560 --> 00:02:32,560 Speaker 1: so a lot of cyber stocks, including Paula Alto, falling 50 00:02:32,720 --> 00:02:35,680 Speaker 1: as a result of that. We do have you know, 51 00:02:35,760 --> 00:02:38,840 Speaker 1: analysts on Wall Street saying that maybe the markets are 52 00:02:38,880 --> 00:02:41,280 Speaker 1: misinterpreting what we're seeing in the report, but you know, 53 00:02:41,360 --> 00:02:45,239 Speaker 1: it tends to be to trend, especially for a related stocks, 54 00:02:45,320 --> 00:02:47,960 Speaker 1: right like if there's any sort of whiff of vadues, 55 00:02:48,000 --> 00:02:50,679 Speaker 1: especially in this environment, I think the instinct for a 56 00:02:50,720 --> 00:02:53,680 Speaker 1: lot of traders is to sell first and ask questions later. 57 00:02:53,960 --> 00:02:56,480 Speaker 1: And paul Alto getting slides wipe today in that is. 58 00:02:56,400 --> 00:02:58,480 Speaker 4: It bad that when I first read the news article, 59 00:02:58,560 --> 00:03:03,320 Speaker 4: I thought Capybarra, that's exactly and I thought, why did 60 00:03:03,320 --> 00:03:03,919 Speaker 4: they name there? 61 00:03:04,160 --> 00:03:06,519 Speaker 1: I started singing a song from Tik Talk. 62 00:03:06,639 --> 00:03:08,680 Speaker 4: Do you want to I'll. 63 00:03:08,520 --> 00:03:10,240 Speaker 1: Show you to TikTok later the whole thing. 64 00:03:11,000 --> 00:03:14,399 Speaker 3: All right, So we've talked a little bit. We've we've 65 00:03:14,400 --> 00:03:17,560 Speaker 3: talked a little bit about the maker of Jack Daniels. 66 00:03:17,639 --> 00:03:19,680 Speaker 3: Let's go on a cruise, Yes, let's go. 67 00:03:19,760 --> 00:03:23,600 Speaker 1: On a cruise specifgree with Carnival, right, so ticker CC. 68 00:03:23,880 --> 00:03:27,200 Speaker 1: We did get results from that company today. So the 69 00:03:27,240 --> 00:03:31,960 Speaker 1: silver lining is that first quarter results actually mostly beat estimates, EPs, 70 00:03:32,000 --> 00:03:36,000 Speaker 1: sales all looking good. The problem is that its outlook 71 00:03:36,160 --> 00:03:37,960 Speaker 1: was disappointing for a lot of investors. 72 00:03:38,600 --> 00:03:40,560 Speaker 3: Was it due to higher fuel costs? Was it due 73 00:03:40,560 --> 00:03:42,360 Speaker 3: to concerns from the Middle East? 74 00:03:42,440 --> 00:03:45,760 Speaker 1: Yeah, definitely part of that is the higher fuel cost 75 00:03:45,880 --> 00:03:48,440 Speaker 1: Because you know, our blooming Intelleges analysts took a look 76 00:03:48,680 --> 00:03:51,840 Speaker 1: and basically, you know, the guidance assumes from March anyway, 77 00:03:51,880 --> 00:03:53,920 Speaker 1: the guides assumes that there's going to be a full 78 00:03:54,000 --> 00:03:57,520 Speaker 1: year five hundred million dollar hit from higher fuel costs. 79 00:03:57,520 --> 00:04:00,200 Speaker 1: And that's based on the assumption that brent is going 80 00:04:00,200 --> 00:04:02,720 Speaker 1: to be around eighty to eighty five dollars per barrel. 81 00:04:02,760 --> 00:04:05,760 Speaker 1: But just before I came over here, it hit well, 82 00:04:05,760 --> 00:04:09,400 Speaker 1: it was over one hundred dollars already and and so 83 00:04:09,520 --> 00:04:11,840 Speaker 1: you know the estimate is that it could be around 84 00:04:11,920 --> 00:04:15,320 Speaker 1: one ten, one fifteen. So that's an upside to the 85 00:04:15,360 --> 00:04:18,080 Speaker 1: fuel hit that the Carnival Company is going to have 86 00:04:18,080 --> 00:04:18,640 Speaker 1: to contend with. 87 00:04:18,839 --> 00:04:21,039 Speaker 4: There's this story by Bloomberg reporter Red Brown. 88 00:04:21,080 --> 00:04:22,240 Speaker 3: I love this story. I know. 89 00:04:22,240 --> 00:04:24,760 Speaker 4: I'm sorry if you talked about it yesterday, but it's wild. 90 00:04:24,839 --> 00:04:27,560 Speaker 4: Cruise influencers make three hundred and fifty thousand dollars all 91 00:04:27,640 --> 00:04:31,000 Speaker 4: the year, and they lure gen Z folks, maybe Jerry, Yeah, 92 00:04:31,040 --> 00:04:33,920 Speaker 4: tech millennials. They'll also lure you, so we sometimes look, 93 00:04:34,160 --> 00:04:38,240 Speaker 4: don't pay you fifty thousand dollars. That's not nothing. I mean, 94 00:04:38,680 --> 00:04:40,000 Speaker 4: I would take that if. 95 00:04:39,880 --> 00:04:42,640 Speaker 3: You're taking some videos and going on cruises, not. 96 00:04:42,600 --> 00:04:44,520 Speaker 4: That, and we can have it approved by Bloomberg. 97 00:04:44,520 --> 00:04:46,640 Speaker 1: Hey, I mean, I would say yes to that gig. 98 00:04:46,839 --> 00:04:51,359 Speaker 3: Christina Quino, Managing editor for Bloomberg Markets Live blog. For 99 00:04:51,440 --> 00:04:54,240 Speaker 3: more conversations like this, check out our new Stock Movers podcast. 100 00:04:54,279 --> 00:04:56,520 Speaker 3: Subscribe to five minute episodes on the biggest winners and 101 00:04:56,600 --> 00:04:58,320 Speaker 3: losers in the stock market. You can check out stock 102 00:04:58,320 --> 00:05:01,680 Speaker 3: Movers on Apple, Spotify, or anywhere you get your podcasts. 103 00:05:02,960 --> 00:05:07,200 Speaker 2: The Stockmovers Report from Bloomberg Radio. 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