Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I want to bring in Bloomberg Managing editor for Markets
Speaker 3: Live Blog, Christina Quino, to take a look at some
Speaker 3: stocks on the move today. We are joined by Christina
Speaker 3: Aquino here in our Bloomberg studio. Do you have anything
Speaker 3: Christine that's not lower today?
Speaker 1: Yeah? Yeah, how about we start with a little bit
Speaker 1: of a merger Friday?
Speaker 2: Okay, sorry, right, yeah, I want to talk.
Speaker 1: About Brown Foreman, that is, of course the maker of
Speaker 1: Jack Daniels. So those shares is a ticker b F
Speaker 1: slash A for the Class A stock up four point
Speaker 1: nine percent today, so very much in the green, one
Speaker 1: of the few shares in the green. And that is
Speaker 1: because we did get news that Brown Foreman is in
Speaker 1: merger talks with Paranol Recard, who is of course the
Speaker 1: maker of Absolute Vodka and so potentially putting all those
Speaker 1: brands together in one big company. And you know these
Speaker 1: are family run businesses still. Yeah, so the Perno, the
Speaker 1: Recar family very much uh still major shareholders in a Parano.
Speaker 1: And then the descendants of Brown form and founder George
Speaker 1: Garvin Brown apparently still largely control the group. And so
Speaker 1: you know, we'll have to have the family's blessing any
Speaker 1: sort of merger. They're probably going to roll their shares
Speaker 1: into a new company if that's fast.
Speaker 3: If if it comes to pass. A big family in Louisville, Kentucky,
Speaker 3: very well known, and I wonder if they will approve
Speaker 3: of this. Yeah, I mean it comes at a time
Speaker 3: in a really interesting time for the spirits industry.
Speaker 4: Do you go out like no, and you and I
Speaker 4: don't drink, don't drink.
Speaker 3: And that's they don't want. So yeah, this is but
Speaker 3: this is the backdrop that you know, these large liquor
Speaker 3: companies are facing right now.
Speaker 4: Yeah, more and more, especially gen Z. But I think
Speaker 4: we're millennials. Are you a millennial?
Speaker 3: A geriatric millennium, that's what they call.
Speaker 4: Yeah, sure, we all don't drink.
Speaker 3: All right, what else you got for us?
Speaker 1: All right? Sadly, this is a stock that is down today,
Speaker 1: that is Polo Alto's ticker PA and W down more
Speaker 1: than six percent at the moment. It's not actually because
Speaker 1: of news related to Paula Alto specifically but actually news
Speaker 1: related to anthropics. So we did get a fortune report
Speaker 1: raising concerns that anthropics artificial intelligence model called Claude Capybara
Speaker 1: might be used by hackers to skirt cyber defenses, and
Speaker 1: so a lot of cyber stocks, including Paula Alto, falling
Speaker 1: as a result of that. We do have you know,
Speaker 1: analysts on Wall Street saying that maybe the markets are
Speaker 1: misinterpreting what we're seeing in the report, but you know,
Speaker 1: it tends to be to trend, especially for a related stocks,
Speaker 1: right like if there's any sort of whiff of vadues,
Speaker 1: especially in this environment, I think the instinct for a
Speaker 1: lot of traders is to sell first and ask questions later.
Speaker 1: And paul Alto getting slides wipe today in that is.
Speaker 4: It bad that when I first read the news article,
Speaker 4: I thought Capybarra, that's exactly and I thought, why did
Speaker 4: they name there?
Speaker 1: I started singing a song from Tik Talk.
Speaker 4: Do you want to I'll.
Speaker 1: Show you to TikTok later the whole thing.
Speaker 3: All right, So we've talked a little bit. We've we've
Speaker 3: talked a little bit about the maker of Jack Daniels.
Speaker 3: Let's go on a cruise, Yes, let's go.
Speaker 1: On a cruise specifgree with Carnival, right, so ticker CC.
Speaker 1: We did get results from that company today. So the
Speaker 1: silver lining is that first quarter results actually mostly beat estimates, EPs,
Speaker 1: sales all looking good. The problem is that its outlook
Speaker 1: was disappointing for a lot of investors.
Speaker 3: Was it due to higher fuel costs? Was it due
Speaker 3: to concerns from the Middle East?
Speaker 1: Yeah, definitely part of that is the higher fuel cost
Speaker 1: Because you know, our blooming Intelleges analysts took a look
Speaker 1: and basically, you know, the guidance assumes from March anyway,
Speaker 1: the guides assumes that there's going to be a full
Speaker 1: year five hundred million dollar hit from higher fuel costs.
Speaker 1: And that's based on the assumption that brent is going
Speaker 1: to be around eighty to eighty five dollars per barrel.
Speaker 1: But just before I came over here, it hit well,
Speaker 1: it was over one hundred dollars already and and so
Speaker 1: you know the estimate is that it could be around
Speaker 1: one ten, one fifteen. So that's an upside to the
Speaker 1: fuel hit that the Carnival Company is going to have
Speaker 1: to contend with.
Speaker 4: There's this story by Bloomberg reporter Red Brown.
Speaker 3: I love this story. I know.
Speaker 4: I'm sorry if you talked about it yesterday, but it's wild.
Speaker 4: Cruise influencers make three hundred and fifty thousand dollars all
Speaker 4: the year, and they lure gen Z folks, maybe Jerry, Yeah,
Speaker 4: tech millennials. They'll also lure you, so we sometimes look,
Speaker 4: don't pay you fifty thousand dollars. That's not nothing. I mean,
Speaker 4: I would take that if.
Speaker 3: You're taking some videos and going on cruises, not.
Speaker 4: That, and we can have it approved by Bloomberg.
Speaker 1: Hey, I mean, I would say yes to that gig.
Speaker 3: Christina Quino, Managing editor for Bloomberg Markets Live blog. For
Speaker 3: more conversations like this, check out our new Stock Movers podcast.
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