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February 14, 2013
07:24 EDTSTZ, BUDAB InBev shares should rally on revised agreement, says Jefferies
Jefferies expects AB InBev (BUD) shares to rally after the company announced a revised agreement with Constellation Brands (STZ) for the sale of its Piedras Negras brewery and granting of the perpetual rights to Corona and other brands in the U.S. for $2.9B. Jefferies thinks the new deal addresses the Department of Justice's concerns surrounding AB InBev's takeover of Modelo deal and the firm now expects the deal to go through. Jefferies has a Buy rating on AB InBev shares.
News For BUD;STZ From The Last 14 Days
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October 7, 2015
12:20 EDTBUDOn The Fly: Top stock stories at midday
Stocks on Wall Street opened with gains as investors grew optimistic about economic growth as oil prices continued to rally. The market moved to sharply higher gains at the outset and then stalled following the release of the weekly energy inventory report. The larger than expected build of crude oil inventories pushed the price of oil lower and took the broader equity market with it. Each of the major indices has crossed back into the green, but they are all trading close to the flat line near midday. ECONOMIC EVENTS: In the U.S., the greater than expected build up in crude oil inventories pushed WTI crude back below $48 per barrel. The EIA reported that crude oil inventories rose by 3.07M barrels, versus the consensus forecast for a 2.25M barrel build. A report on consumer credit in August is scheduled for 3 pm EDT. COMPANY NEWS: Yum! Brands (YUM) was the worst performer in the S&P 500, falling 18% after the restaurant brand owner reported worse than expected third quarter financial results and gave weaker than expected guidance amid a slower than expected recovery in its sales in China... Monsanto (MON) shares initially dropped following the company's report of worse than expected quarterly losses, but the stock recovered to be flat near noon. The genomics giant gave ongoing earnings guidance for the new fiscal year that missed expectations, but it also confirmed its five-year plan to more than double ongoing earnings per share along with announcing a new $3B accelerated share repurchase program and saying it sees cutting 2,600 jobs over next 18-24 months as part of its restructuring plans... Anheuser-Busch InBev (BUD) made a third proposal to combine with SABMiller (SBMRY), upping its offer for the rival brewing giant to 42.15 pounds a share. Altria Group (MO), SABMiller's largest shareholder, said it supports a proposal of GBP 42.15, or higher, with a partial share alternative, and would be prepared to elect the partial share alternative. However, SABmiller, said this morning that the new overture still undervalues it "very substantially." MAJOR MOVERS: Among the notable gainers was Freeport-McMoran (FCX), which jumped 10% after the company added two Carl Icahn representatives to its board. Also higher was SunEdison (SUNE), which gained 8% after the Wall Street Journal reported that the company won't complete its planned $700M purchase of Latin American Power. Among the noteworthy losers was GoPro (GPRO), which dropped 7% after Morgan Stanley lowered its price target on the stock to $35 from $62 due to disappointing Session sales. Also lower was Nu Skin (NUS), which dropped 25% after cutting its guidance for the third quarter, citing lower than expected sales of its new cosmetic oils in China during August and September. INDEXES: Near midday, the Dow was up 23.38, or 0.14%, to 16,813.57, the Nasdaq was up 0.89, or 0.02%, to 4,749.25, and the S&P 500 was up 3.28, or 0.17%, to 1,983.20.
10:12 EDTBUDAB InBev CEO does not want to talk about hostile SABMiller bid, Reuters says
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09:21 EDTSTZOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Constellation Brands (STZ), up 3.7%. ALSO HIGHER: Sunedison (SUNE), up 9.3% after the Wall Street Journal reported that SunEdison won't complete its $700M planned purchase of Latin American Power... Genocea Biosciences (GNCA), up 18.6% after reporting positive data from its Phase 2 trial of GEN-003... Lion Biotechnologies (LBIO), up 13.3% after obtaining an exclusive, worldwide license from the National Institutes of Health to develop and commercialize tumor-infiltrating lymphocytes therapy in four additional tumor indications... Juniper Networks (JNPR), up 3.3% after Light Reading reported that several Silicon Valley sources confirmed the speculation that Juniper Networks hired Goldman Sachs (GS) to explore interest in taking the company private. DOWN AFTER EARNINGS: Monsanto (MON), down 5%... Yum! Brands (YUM), down 15.3%. ALSO LOWER: Axion Power (AXPW), down 40.5% after reporting that it is no longer feasible or possible to complete the LCB International transaction... Advaxis (ADXS), down 20.4% following its report of a clinical hold of axalimogene filolisbac... Neonode (NEON), down 14.5% after 3.2M share Secondary priced at $1.90 and providing third quarter revenue... Adobe (ADBE), down 3.2% after providing growth target guidance for fiscal 2015 through fiscal 2018 and fiscal 2016 guidance... J.C. Penney (JCP), down 2% after being initiated with a sell at Citi.
07:59 EDTBUDSABMiller says it previously decided to turn down GBP 42 per share takeover bid
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07:38 EDTSTZConstellation Brands raises FY16 EPS view to $5.00-$5.20, consensus $4.98
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07:35 EDTSTZConstellation Brands reports Q2 comparable basis EPS $1.56, consensus $1.32
Reports Q2 revenue $1.73B, consensus $1.73B. Reports Q2 reported basis EPS $1.49.
05:45 EDTBUDAB InBev proposes to acquire SABMiller for GBP 42.15 per share
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05:43 EDTBUDAB InBev proposes to acquire SABMiller for GBP 42.15 per share
05:41 EDTBUDAltria says AB Inbev's proposal for SABMiller would create 'significant' value
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October 6, 2015
15:22 EDTSTZConstellation Brands October 130 straddle priced for 4.2% movement into Q1
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15:08 EDTSTZNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Monsanto (MON), consensus (2c)... Constellation Brands (STZ), consensus $1.32... Acuity Brands (AYI), consensus $1.62... Global Payments (GPN), consensus $1.43... RPM International (RPM), consensus 82c.
13:22 EDTSTZConstellation Brands technical comments before earnings
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06:47 EDTBUDAB InBev not expected to make hostile offer for SABMiller, NY Post says
As rumors swirl that SABMiller (SBMRY) has rejected an informal proposal from AB InBev (BUD), The New York Post reports that AB InBev has "decided internally" not to make a hostile offer for the brewer and that it will only make an offer SAB is prepared to accept. According to a source cited by The Post, there is a 60% change AB InBev will make an offer for SAB "that will be rich enough for SAB to accept." Reference Link
06:22 EDTBUDAB InBev's informal offer rejected by SABMiller, Bloomberg reports
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October 2, 2015
18:07 EDTBUDCoca-Cola, other blue chips, call for Blatter to step down, WSJ says
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06:56 EDTBUDHSBC CEO met with AB InBev over SABMiller deal financing, Sky News reports
HSBC (HSBC) CEO Stuart Gulliver has met with executives from AB InBev (BUD) about playing a major role in financing the possible takeover of SABMiller (SBMRY), Sky News reports. AB InBev is expected to make a formal bid for SABMiller next week, the report says. Reference Link
October 1, 2015
08:04 EDTSTZConstellation Brands October volatility elevated into Q1 and outlook
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September 30, 2015
11:45 EDTBUDAB InBev initiated with a Buy at UBS
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September 29, 2015
12:12 EDTBUDAB InBev taps BofA, Santander for SABMiller offer financing, Bloomberg says
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September 27, 2015
21:20 EDTBUDAB InBev expected to make GBP70B offer for SAB Miller, Sunday Times says
AB InBev (BUD) has held friendly talks with SAB Miller (SBMRY) in recent days and the company is expected to make a GBP70B offer for its British rival within days, reports the Sunday Times, citing sources. An announcement could be made Monday morning, said the report. Reference Link
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