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