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'm Jim Statoveek along with Carol Masser. Let's take a
Speaker 3: look at some stocks on the move today. We are
Speaker 3: joined by Bloomberg News. I almost said cross asset reporter.
Speaker 4: I saw it on your paper. She is not. I'm
Speaker 4: a credit reporter.
Speaker 1: Now, Bloomberg News credit reporter.
Speaker 4: It's we can still do markets.
Speaker 3: Bloomberg News credit reporter. Emik Grafeo, congratulations on the new
Speaker 3: ish role.
Speaker 2: Thank you.
Speaker 1: Where do you want to start.
Speaker 4: Let's start with tech stocks. Okay, don't mind us, it's
Speaker 4: a long Yeah, it's in the Today Day. Yeah, okay.
Speaker 5: So you guys were just talking about how we saw
Speaker 5: the trade reverse in the stock market after hours. So
Speaker 5: we have Trump pushing back the deadline for iron to
Speaker 5: strike a deal with the US, So we saw and
Speaker 5: a lot of tech stocks rallying in the postmarket. So
Speaker 5: right now Meta took her Meta is up about three
Speaker 5: tenths of one percent in after hours, but it was
Speaker 5: down about eight percent in the regular trading session.
Speaker 4: It was an overall risk off day for tech stocks.
Speaker 5: There was really no place to hide in the equity market,
Speaker 5: and these megacaps were getting hit the most. Some say
Speaker 5: this was an area that people were going for safety
Speaker 5: and now they're selling off. But it was a bit weird.
Speaker 5: There was some fundamental news, but it was not today,
Speaker 5: It was yesterday earlier.
Speaker 1: Yeah, so it was yesterday when the market was open too.
Speaker 5: Right, so yesterday Meta and and Alphabet as well. They
Speaker 5: were found liable in a social media addiction trial. This
Speaker 5: is just one of potentially many similar trials. For this one,
Speaker 5: they have to pay damages to a twenty year old
Speaker 5: woman who said that her addiction to social media caused
Speaker 5: her mental health struggles. We haven't really seen a lawsuit
Speaker 5: like this before in a result like this, so you
Speaker 5: could point to this as why the stock was down
Speaker 5: so much today.
Speaker 4: But overall very risk off for tech.
Speaker 1: Guess what, Manna, there's going to be more coming.
Speaker 4: That's what we've heard from our legal team.
Speaker 1: Yeah right, is it just exactly just the beginning, But yeah,
Speaker 1: it's it's kind of wacky. Timmyu'ses this product all the time?
Speaker 1: What is it? He does not? I do shampoo though,
Speaker 1: just have to say that, I don't know.
Speaker 4: I know every time.
Speaker 5: Well, they have shampoo, they have other kind of hair
Speaker 5: products as well.
Speaker 4: Yeah, yeah, they have a hairspray.
Speaker 1: For a while they were I mean there's non stop
Speaker 1: talk and it didn't have a debut, and yeah it
Speaker 1: was a back I believe, yeah, way back then, Santa Barbara.
Speaker 5: Well, they had a big day today. The stock was
Speaker 5: up fifty one percent. Take her o l p X.
Speaker 4: It's not it's not a mega cap stock.
Speaker 5: It's right exactly. However, there was some real news to
Speaker 5: tie to this move. They are getting acquired Hankled, their
Speaker 5: German company, entering into a definitive agreement to acquire one
Speaker 5: hundred percent of Oliplex at a premium of fifty five
Speaker 5: percent to Oliplex's last closing price.
Speaker 4: That's a pretty nice look, very big pop.
Speaker 1: Yeah, all right, and let's get to this is a
Speaker 1: story we've been talking about a lot today, but I
Speaker 1: love it. Tell us some about the car rental guys.
Speaker 4: This really caught my eye. Proves how like I don't.
Speaker 5: Know, markets, they just react to the news like you
Speaker 5: wouldn't expect this, Maybe you would. Avis ticker car Car
Speaker 5: was up about seventeen percent. Hertz HTZ was also up
Speaker 5: in the double digits today, And I guess traders thinking
Speaker 5: that with all of the airline snaffoos and long lines,
Speaker 5: people are going to be renting cars, so therefore they
Speaker 5: want to buy car rental companies. We do have a
Speaker 5: story on the Bloomberg today pointing out that traffic to
Speaker 5: Hurts his website jumped about fifteen percent this week as.
Speaker 4: Customers are looking for other ways to get to their destination. O. Yeah,
Speaker 4: I get it. You sai for a long term buy
Speaker 4: maybe not, but for a trade short but maybe they
Speaker 4: have a good quarter or something. Right, it's the result to.
Speaker 3: This, and you know you're not going to do it
Speaker 3: if you're flying from New York to California, But if
Speaker 3: you know you have a short, shorter trip and you're like, okay, well,
Speaker 3: if it's going to take me five hours to get
Speaker 3: through security each way, plus you know one and a
Speaker 3: half two hour flight or whatever, seven hours, eight hours,
Speaker 3: I think I'm.
Speaker 5: Just wishful thinking that this is all going to end
Speaker 5: like tomorrow when I actually have to take a flight.
Speaker 4: But yeah, this might go on for a.
Speaker 1: While, So I hope you're going to be airport tonight.
Speaker 4: I need to be there, like now.
Speaker 1: Okay, we'll let you go. Okay. I think it was
Speaker 1: up a lot this month or something like that.
Speaker 4: Oh yeah, except like forty three this month. It has
Speaker 4: been on a tear time for cars. Okay, it's time
Speaker 4: for cris I Digress.
Speaker 1: I'm Ligerfeo.
Speaker 3: She's at Bloomberg News Credit Reporter. For more conversations like this,
Speaker 3: check out our news Stockmovers podcast. Subscribe for five minute
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