WEBVTT - Meta Falls, Olaplex Surges, Car Rentals Soar

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

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm Jim Statoveek along with Carol Masser. Let's take a

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<v Speaker 3>look at some stocks on the move today. We are

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<v Speaker 3>joined by Bloomberg News. I almost said cross asset reporter.

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<v Speaker 4>I saw it on your paper. She is not. I'm

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<v Speaker 4>a credit reporter.

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<v Speaker 1>Now, Bloomberg News credit reporter.

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<v Speaker 4>It's we can still do markets.

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<v Speaker 3>Bloomberg News credit reporter. Emik Grafeo, congratulations on the new

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<v Speaker 3>ish role.

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<v Speaker 2>Thank you.

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<v Speaker 1>Where do you want to start.

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<v Speaker 4>Let's start with tech stocks. Okay, don't mind us, it's

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<v Speaker 4>a long Yeah, it's in the Today Day. Yeah, okay.

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<v Speaker 5>So you guys were just talking about how we saw

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<v Speaker 5>the trade reverse in the stock market after hours. So

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<v Speaker 5>we have Trump pushing back the deadline for iron to

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<v Speaker 5>strike a deal with the US, So we saw and

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<v Speaker 5>a lot of tech stocks rallying in the postmarket. So

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<v Speaker 5>right now Meta took her Meta is up about three

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<v Speaker 5>tenths of one percent in after hours, but it was

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<v Speaker 5>down about eight percent in the regular trading session.

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<v Speaker 4>It was an overall risk off day for tech stocks.

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<v Speaker 5>There was really no place to hide in the equity market,

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<v Speaker 5>and these megacaps were getting hit the most. Some say

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<v Speaker 5>this was an area that people were going for safety

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<v Speaker 5>and now they're selling off. But it was a bit weird.

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<v Speaker 5>There was some fundamental news, but it was not today,

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<v Speaker 5>It was yesterday earlier.

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<v Speaker 1>Yeah, so it was yesterday when the market was open too.

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<v Speaker 5>Right, so yesterday Meta and and Alphabet as well. They

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<v Speaker 5>were found liable in a social media addiction trial. This

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<v Speaker 5>is just one of potentially many similar trials. For this one,

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<v Speaker 5>they have to pay damages to a twenty year old

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<v Speaker 5>woman who said that her addiction to social media caused

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<v Speaker 5>her mental health struggles. We haven't really seen a lawsuit

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<v Speaker 5>like this before in a result like this, so you

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<v Speaker 5>could point to this as why the stock was down

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<v Speaker 5>so much today.

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<v Speaker 4>But overall very risk off for tech.

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<v Speaker 1>Guess what, Manna, there's going to be more coming.

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<v Speaker 4>That's what we've heard from our legal team.

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<v Speaker 1>Yeah right, is it just exactly just the beginning, But yeah,

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<v Speaker 1>it's it's kind of wacky. Timmyu'ses this product all the time?

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<v Speaker 1>What is it? He does not? I do shampoo though,

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<v Speaker 1>just have to say that, I don't know.

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<v Speaker 4>I know every time.

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<v Speaker 5>Well, they have shampoo, they have other kind of hair

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<v Speaker 5>products as well.

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<v Speaker 4>Yeah, yeah, they have a hairspray.

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<v Speaker 1>For a while they were I mean there's non stop

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<v Speaker 1>talk and it didn't have a debut, and yeah it

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<v Speaker 1>was a back I believe, yeah, way back then, Santa Barbara.

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<v Speaker 5>Well, they had a big day today. The stock was

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<v Speaker 5>up fifty one percent. Take her o l p X.

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<v Speaker 4>It's not it's not a mega cap stock.

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<v Speaker 5>It's right exactly. However, there was some real news to

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<v Speaker 5>tie to this move. They are getting acquired Hankled, their

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<v Speaker 5>German company, entering into a definitive agreement to acquire one

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<v Speaker 5>hundred percent of Oliplex at a premium of fifty five

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<v Speaker 5>percent to Oliplex's last closing price.

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<v Speaker 4>That's a pretty nice look, very big pop.

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<v Speaker 1>Yeah, all right, and let's get to this is a

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<v Speaker 1>story we've been talking about a lot today, but I

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<v Speaker 1>love it. Tell us some about the car rental guys.

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<v Speaker 4>This really caught my eye. Proves how like I don't.

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<v Speaker 5>Know, markets, they just react to the news like you

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<v Speaker 5>wouldn't expect this, Maybe you would. Avis ticker car Car

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<v Speaker 5>was up about seventeen percent. Hertz HTZ was also up

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<v Speaker 5>in the double digits today, And I guess traders thinking

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<v Speaker 5>that with all of the airline snaffoos and long lines,

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<v Speaker 5>people are going to be renting cars, so therefore they

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<v Speaker 5>want to buy car rental companies. We do have a

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<v Speaker 5>story on the Bloomberg today pointing out that traffic to

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<v Speaker 5>Hurts his website jumped about fifteen percent this week as.

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<v Speaker 4>Customers are looking for other ways to get to their destination. O. Yeah,

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<v Speaker 4>I get it. You sai for a long term buy

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<v Speaker 4>maybe not, but for a trade short but maybe they

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<v Speaker 4>have a good quarter or something. Right, it's the result to.

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<v Speaker 3>This, and you know you're not going to do it

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<v Speaker 3>if you're flying from New York to California, But if

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<v Speaker 3>you know you have a short, shorter trip and you're like, okay, well,

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<v Speaker 3>if it's going to take me five hours to get

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<v Speaker 3>through security each way, plus you know one and a

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<v Speaker 3>half two hour flight or whatever, seven hours, eight hours,

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<v Speaker 3>I think I'm.

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<v Speaker 5>Just wishful thinking that this is all going to end

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<v Speaker 5>like tomorrow when I actually have to take a flight.

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<v Speaker 4>But yeah, this might go on for a.

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<v Speaker 1>While, So I hope you're going to be airport tonight.

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<v Speaker 4>I need to be there, like now.

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<v Speaker 1>Okay, we'll let you go. Okay. I think it was

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<v Speaker 1>up a lot this month or something like that.

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<v Speaker 4>Oh yeah, except like forty three this month. It has

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<v Speaker 4>been on a tear time for cars. Okay, it's time

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<v Speaker 4>for cris I Digress.

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<v Speaker 1>I'm Ligerfeo.

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<v Speaker 3>She's at Bloomberg News Credit Reporter. For more conversations like this,

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<v Speaker 3>check out our news Stockmovers podcast. Subscribe for five minute

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<v Speaker 3>episodes and the biggest winners and losers in the stock market.

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<v Speaker 3>Checkout Stockmovers on Apple, Spotify, or anywhere you get your podcast.

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