Brown-Forman Soars, Cybersecurity Stocks Slide, Carnival Drops

0:00Equity indices made by committees, that's the old way. The new way is Bloomberg Equity indices. Transparent indices built on data, not opinions. Discover evolved benchmarks for today's equity markets at Bloomberg.com slash equity index subscriptions. Bloomberg audio studios. Podcasts, radio, news. The Stock Movers report. Your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg data. I want to bring in Bloomberg's managing editor for market's live blog, Kristina Kino. To take a look at some stocks on the move today, we are joined by Kristina Kino here in our Bloomberg studio. Do you have anything, Kristina? That's not lower today? Yeah, yeah, how about we start with a little bit of a merger Friday? Okay, that sounds good. Yeah, I want to talk about Brown Foreman. That is of course the maker of Jack Daniels. So those shares took a BF slash A for the class A stock. Up 4.9% today.

1:01So 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 Perno Ricard, 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 Ricard family very much still major shareholders in Perno. And then the descendants of Brown Foreman founder George Garvin Brown apparently still largely control the group. And so, you know, we'll have to have the families blessing and you sort of merger. They're probably going to roll their shares into a new company if that's the best. If it comes to pass. It's 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 and a really interesting time for the spirits industry. Do you go out like? No, and you and I don't drink. We don't drink. And that's clear the problem. I don't. So, yeah, this is, but this is the backdrop that, you know,

2:02these 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 millennial. A ger... It's what they call it. It's what counts. Sure. 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 Paulo Altos and ticker PA and W down more than 6% at the moment. It's not actually because of news related to Paulo Altos specifically, but actually news related to Anthropics. So we did get a fortune report raising concerns that Anthropics, or an official intelligence model called Claude Capibara, might be used by hackers to skirt cyber defenses. And so a lot of cyber stocks, including Paulo Altos, falling as a result of that. We do have 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 AI related stocks, right? Like if there's any sort of width of values,

3:02especially in this environment, I think the instinct for a lot of traders is to sell first and ask questions later. Yeah. And Paulo Altos getting slideswipe today and that. Is it bad that when I first read that news article, I thought Capibara. That's what caught my attention. Exactly. And I thought, why did they name their? I started singing a song from TikTok. Do you want to demonstrate? I'll show you the TikTok later. It's a whole thing. All right. So we've talked a little bit. 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. Thank you. It was a great carnival, right? It's a ticker CC. We did get results from that company today. So the silver lining is that first quarter results actually mostly be 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 and many from the Middle East? Yeah. Definitely part of that is the higher fuel cost because our Blooming Intelligence analysts took a look.

4:03And basically, the guidance assumes from March anyway, the guidance assumes that there's going to be a full year, $500 million hit from higher fuel costs. And that's based on the assumption that Brent is going to be around $80 to $85 per barrel. But just before I came over here, it hit. Well, it was over $100 already. And so, you know, the estimate is that it could be around 1-10-1-50. 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. We did. But it's wild. Cruise influencers make $350,000 a year. And they lure Gen Z folks. Maybe Jerry Attych Millenials, they'll also lure you. We sometimes look at them. They'll pay you $50,000. That's not nothing. No. I mean, I would take that if they invite me. We're going to be taking some videos and going on cruises. Not that, right? Yes, and we can have it approved by Bloomberg. I would say yes to that gig. Christina Kino, managing editor for Bloomberg,

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