Weekly Roundup: Brown-Forman Soars, Entergy Gains, Estee Lauder Drops
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Show Notes
On this episode of Stock Movers:
- Shares of Jack Daniel’s whiskey maker Brown-Forman (BF/B) soared as much as 21% on Thursday, a record intraday climb, following a Bloomberg report that French beverages company Pernod Ricard is seeking to buy the company. Wall Street notes that the Brown family has the majority of voting control and has rebuffed previous attempts to sell, but persistent industry weakness could make a deal more likely.
- Entergy (ETR) was the best performing stock in the S&P 500 Friday, jumping 8%. The gains came after Meta struck a deal with Entergy Louisiana, through which it will pay for new energy infrastructure to support a forthcoming data center in the region. The $27 billion facility, currently under construction, is set to be Meta's largest data center ever.
- Estee Lauder (EL) shares drop on news that the company is in talks to buy Puig Brands SA, which would create a cosmetics giant with about $20 billion in annual sales.
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