Meta Drops Amid Jury Ruling, Valero Sees Increase After Fire, Brown-Forman Gets Bump

0:00Indices built to someone else's specification, that's the old way. The new way is Bloomberg Equity indices, design custom benchmarks and distribute them at speed. Discover evolved benchmarks for today's equity markets at Bloomberg.com slash equity index licensing. 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'm Carol Maser, along with Tim Stanovick. Let's get to you some stocks on the move on this Thursday. Bloomberg News Equity's reporter Avalon Pernell is in the house. How are you? Very good. Good. Always fun to be here. Well, thank you. We like to have a little bit of a party when we're in here. Yeah, the market's not really partying today. Let's go in on with the stocks that you're out watching. Very true. We could go and start off with meta-platforms, that's ticker, meta, falling about 8.1%. Wow. Not a party. Very much not a party because intraday drops in October.

1:00And that's after meta and Google were found liable in the first social media addiction trial. Analysts are saying that the landmark decision could point to ongoing risk understandably so for both companies as they continue to fight thousands potentially of these similar claims. That's interesting because they didn't go down that much yesterday. Yeah, this happened right before two o'clock yesterday. So the market was still open and we didn't see a big reaction. But I guess now analysts are coming out with sort of their, how they view things, Carol. Yeah. And you know, earlier today it was down at only 5.6%. That was the session low. Now down 8%. Wow. I'm just going to throw this out. I have no idea if there's a connection, but there is a story on the Bloomberg about Mark Zuckerberg, of course, of meta-platforms, meeting Senate Majority Leader John Thune, according to a person familiar with the schedule. So I don't know exactly what that means. We know these tech execs and heads have been operating right now, according to PBS.

2:02Mark Zuckerberg arrived at Center Thunes office at 222 today. Just throw it in, you know, little add in there for you. Okay, so meta definitely down a lot. Valero Energy, I saw this one actually rallying. Yes, you are absolutely correct. It is up about 5.8% to hit a record high. That's after we reported that Valero's poor Arthur refinery could restart some units as soon as next week after an explosion shut down the plant on Monday. Also important to note that energy stocks as a whole is continued to arise as the attacks continue in the Middle East. And President Trump saying earlier that Iran should get serious about getting to the discussions table before it's too late. So we'll keep an eye out for that as well. Definitely an outperformer, though. When you look at those energy names, let's go to something. Actually, I feel like you should bring it in because you actually brought this to my attention. Jack Daniels? Yeah. Let's talk a little bit about the hearing company of Jack Daniels. We find them in Louisville, Kentucky, brown for them. Absolutely correct. That is ticker BF slash B. Gaining about 8.1% for its biggest intraday jumps since last March.

3:03That's after Bloomberg reports that the French beverages company Pernot Richard is exploring a potential acquisition of the owner of Jack Daniels whiskey. Important to note, though, that the Brown family has the majority of voting control and has rejected previous attempts to purchase the company. But we all know there's been a lot of weakness in alcohol and beverages just in general. So maybe that could make the deal more likely. Obviously, unclear. Yeah, people not drinking, though. The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street. And for the latest market moving headlines, listen to Bloomberg Radio Live. Catch us on YouTube, Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app.

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