Closing Bell: MSG Soars on Knicks Win, Ferrari Disappoints, Beer Stocks Fall

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Griefeld, Alex Semenova and Tim Stenovec.

- Shares of Madison Square Garden Sports (MSGS) jump as much as 4.2% to touch a record high intraday after the New York Knicks completed a 4-0 series sweep over the Cleveland Cavaliers to advance to the NBA Finals for the first time since 1999. MSGS shares are up 41% this year, on pace for a record annual return

- Beer stocks including Molson Coors, Constellation Brands, Boston Beer and Anheuser-Busch are trading lower on Tuesday as the latest industry sales data from Circana and Nielsen showed lackluster trends. Molson Coors -3.5%, Constellation Brands -3.5%, Boston Beer -3.3% and Anheuser-Busch InBev -1.4%

- Ferrari (RACE) shares fell almost 8% after critics panned the look of its first fully electric vehicle, a setback for the Italian super-car maker’s controversial push into EVs. The unveiling of the €550,000 ($640,000) Ferrari Luce drew largely negative reactions from industry analysts and social media influencers alike, who compared the four-door, five seater’s design to mass-market EVs. For the Luce, Ferrari moved away from the style associated with design chief Flavio Manzoni and tapped Apple Inc.’s former head of design, Jony Ive, to shape the vehicle.

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