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