Unity Software Jumps; Blue Owl Pitches Family Offices; Pernod Rises

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. Let's take a look at some stacks on the move today. Choose Alexis Christopheres. All right, guys, let's start with Unity software. The stock is on the move today. It's up now about 14%. It is a San Francisco-based gaming company. They released preliminary first quarter results that beat our earlier forecast on both the top and bottom line. So when you dig in here, here's what Wall Street seems to like. Unity is going to close its iron source ads network and has hired an advisor to find a buyer for its supersonic games publishing business.

1:01Those titles include things like Bazooka Boy and Clone Boy, which we know Paul Sweeney's all about. Unity makes tools that help developers design and make money off a video game. So it wants to now focus on Vector. That's its AI-driven advertising unit. But get this, shares of Unity are down 60% year-to-date. And that's because of Google's project Genie that some say we're going to disrupt the way video games get made. So Unity making some strategic moves to sort of, I guess, give it its best advantage. All right. All right, they say it is five o'clock somewhere, right? So let's talk a little cocktails. France's pernode recharge. Yeah, saw that. Yeah, owner of Absolute Vodka and Brown Foreman, of course, the owner of Jack Daniels. They're apparently in discussions about a possible merger. So what would this look like? Well, the world's second largest spirit smaker would come together with the world's largest producer of American whiskey. They're calling it a merger of equals if it were to happen. Pernode, up about three and a half percent right now. Class B shares of Brown Foreman, though, are down a little bit.

2:02Wall Street seems mixed on this possible hookup. Look, we know that spirit companies have been going through it, right? Because sales have been slumping now for years. And also tariff pressures, let's not forget. That's causing a lot of valuations there to slide. So Brown Foreman stock has actually been under pressure for years, losing about half of its value. So some analysts are questioning the timing of this possible. Deal, they're pointing the fact that Pernode Rashard has made some big acquisitions over the past few years. And they were hoping they'd actually focus a little bit on, you know, paying down debt as opposed to running out and buying or emerging with another company. I think people are drinking less because they're gumming up doing the gummy thing. Oh, the gummy, the CBD gummy thing. I think it's a thing. I went to a formal business lunch the other day, not one single person at the table, including me, had a beverage. And I think I've never seen that except in LA you see it because everybody's, you got a Michael's in Santa Monica. Right. No one's drinking because, you know, Michael's like at the bar going, are you kidding me? Somebody order a beverage.

3:02Well, that's where the restaurant's making money because of the margins there. But yeah, that's true. All right. And let's talk a little blue owl. So the stock is down 1%, it is down 40% year to date. And a lot of this is about the jitters regarding private credit. So this is interesting timing. And maybe, you know, maybe this is a winning strategy. I don't know, but blue owl is going to expand its team to bring ultra wealthy investors into private markets. So it's looking to partner with family offices across various opportunities. It's, you know, hoping that people are going to look past those recent jitters to expand into an area that they've traditionally had, you know, limited exposure to that is retail investors. So the firm, of course, grappling to shore up confidence here in its retail-focused funds, looking to partner with those family offices. It's hired Blake Shorthouse from KKR to lead the push and has expanded the team to about 8 people. So we'll see if that goes anywhere. This 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,

4:04listen to Bloomberg Radio Live, catch us on YouTube, bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app. But even the best strategies can prevent every bad day. For more than 75 years, Cincinnati Insurance has helped individuals and businesses navigate tough moments with expertise, personal attention, and independent agents who focus on relationships, not transactions. The Cincinnati Insurance companies let them make your bad day better.

5:04Find an agent at CINFIN.com. This podcast is brought to you by Wise, the smarter way to manage your money internationally. If you're getting a headache from juggling different currencies and different bank accounts and different countries, there's a better way to receive money in the currency you need without the slow transfer times or hidden fees. Meet Wise, the savvy way to handle your money internationally. Hold balances in up to 40 currencies with the mid-market exchange rate on every conversion, whether you're receiving payments from tenants abroad, earning as a digital nomad, or converting dividends from your international investments. The Wise multi-currency account is for you. Be smart. Get Wise, download the Wise app today or visit Wise.com, terms and conditions apply.