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January 31, 2013
10:43 EDTBUD, STZ, SAM, TAPAB InBev, Constellation fall after U.S. sues to block Modelo takeover
(BUD) proposed acquisition of total ownership and control of Grupo Modelo. The department said that the $20.1B transaction would "substantially lessen competition in the market for beer in the United States as a whole and in 26 metropolitan areas across the United States, resulting in consumers paying more for beer and having fewer new products from which to choose." The department's lawsuit, filed in the U.S. District Court for the District of Columbia, seeks to prevent the companies from merging. The departmentís complaint also alleges that ABI and Modelo efforts to remedy the anticompetitive aspects of their transaction are inadequate. The complaint states that ABI has agreed to sell Modeloís existing 50% interest in Crown to its Crown joint venture partner, Constellation (STZ). ABI would also enter into an exclusive agreement to supply Constellation with Modelo beer to import into the United States, although ABI can terminate this supply agreement after 10 years and would retain the Modelo brands and its brewing and bottling facilities, the Justice Department added. Following the lawsuit, shares of AB InBev declined 5% to $89.19 while Constellation shares fell 28% to $28.37. Other beer suppliers declined, including Boston Beer (SAM) and Molson Coors (TAP).
News For BUD;STZ;SAM;TAP From The Last 14 Days
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October 31, 2014
10:19 EDTSAMBoston Beer rises sharply after results, levels to watch
The shares are up over 5.2% to $243.59, off the earlier high at $247.02 which is just below the life high and is now resistance. Support is at $240.37.
07:39 EDTSAMBoston Beer price target raised to $280 form $250 at Cowen
Cowen raised its price target on Boston Beer to $280 from $250 following the company's Q3 results. The firm believes company guidance is conservative given the business momentum and reiterates its Outperform rating on Boston Beer shares.
October 30, 2014
16:48 EDTSAMBoston Beer reaffirms 2014 EPS outlook $6.00-$6.40, consensus $6.51
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16:47 EDTSAMBoston Beer reports Q3 EPS $2.79, consensus $2.32
Reports Q3 revenue $269.7M, consensus $258.57M. Depletions grew 21% and 25% from the comparable 13 and 39 week periods in the prior year. Core shipment volume was approximately 1.2M barrels, a 23% increase over last year.
October 29, 2014
14:21 EDTBUDEarnings Preview: Altria Group up more than 13% since Q2 report
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October 24, 2014
07:58 EDTBUD, TAPMolson Coors seen as winner if peers merge, Bloomberg says
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October 20, 2014
08:30 EDTSTZConstellation Brands initiated with a Buy at Pivotal Research
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