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Stock Market & Financial Investment News

News Breaks
June 9, 2014
06:22 EDTSBMRYSABMiller increases production of craft beer, FT says
SABMiller is working to increase its share of the premium beer market in the U.S., where it has been caught on the hop by the explosion of local expensive craft beers, according to the Financial Times, citing comments from the company's CEO Alan Clark. When discussing the ramp-up of activity within the MillerCoors joint venture, Clark said, "We’ve got to shift our portfolio to premium. That’s clearly a priority that the team now understand and are working on it." Clark did not mention a timeframe for the increase. Reference Link
News For SBMRY From The Last 14 Days
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September 19, 2014
16:24 EDTSBMRYStocks rise after Fed keeps pledge for 'considerable time' before rate hike
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10:06 EDTSBMRYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Buy from Neutral at Goldman... Concur (CNQR) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Global Hunter... Deutsche Telekom (DTEGY) upgraded to Buy from Neutral at Citigroup... DuPont (DD) upgraded to Buy from Hold at BGC Financial... First Horizon (FHN) upgraded to Outperform from Market Perform at Raymond James... Francesca's (FRAN) upgraded to Buy from Neutral at Buckingham... Guess (GES) upgraded to Neutral from Underperform at Buckingham... National CineMedia (NCMI) upgraded to Outperform from Market Perform at FBR Capital... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equalweight at Capital One... SABMiller (SBMRY) upgraded to Neutral from Reduce at Nomura... Synovus (SNV) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Buy from Hold at Wunderlich... VF Corp. (VFC) upgraded to Buy from Hold at KeyBanc... Zions Bancorp (ZION) upgraded to Strong Buy from Outperform at Raymond James.
05:32 EDTSBMRYSABMiller upgraded to Neutral from Reduce at Nomura
September 18, 2014
08:59 EDTSBMRYOn The Fly: Pre-market Movers
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07:34 EDTSBMRYSodaStream rumored as target for SABMiller, Diageo, Independent says
Rumors haver circulated among U.K. traders that soda machine maker SodaStream (SODA) could be targeted for a takeover by beverage makers SABMiller (SBMRY) and Diageo (DEO) or private equity group KKR (KKR), according to The Independent. Reference Link
September 16, 2014
09:32 EDTSBMRYAB InBev price target raised to $137 from $125 at Buckingham
Buckingham increased its price target on AB InBev (BUD), citing reassuring Nielsen data for U.S. beer. Additionally, the firm thinks the chances of AB InBev buying SABMiller (SBMRY) within the next year have risen to 50%+. It thinks that such a deal would conservatively increase AB InBev's stock by $6. Buckingham keeps a Buy rating on the shares.
September 15, 2014
17:09 EDTSBMRYOn The Fly: Closing Wrap
Stocks on Wall Street were mixed to begin the week, as the Dow managed to register mild gains but the Nasdaq was weighed down by slides in a number of so-called "momentum stocks" like Tesla (TSLA). Investors may remain cautious in the next two sessions ahead of the Fed's much anticipated rate decision and accompanying statement, which is due Wednesday. ECONOMIC EVENTS: In the U.S., New York Fed's Empire state survey for September rose to a five-year high of 27.54. Industrial production unexpectedly dipped 0.1% in August from a downwardly revised 0.2% July gain, missing the forecast for a rise of 0.3%. Capacity utilization dropped to 78.8% last month from 79.1% previously. In China, industrial output increased 6.9% in August versus the same period a year earlier, which was its weakest advance, excluding months that fell during New Year holidays, since December 2008. Chinese retail sales growth for August came in at 11.9%, missing the consensus estimate. COMPANY NEWS: Shares of Apple (AAPL) edged down 3c, or 0.03%, to $101.63 despite the company's announcement that a record 4M iPhone 6 and iPhone 6 Plus pre-orders were placed in the first 24 hours that ordering was available. Demand for the new phones exceeds the initial pre-order supply, the company added, stating that delivery of "many" iPhone pre-orders have been pushed out to October... Microsoft (MSFT) slid 45c, or 0.97%, to $46.24 after the company confirmed an agreement to acquire Mojang, the developer for the "Minecraft" video game franchise, for $2.5B... MAJOR MOVERS: Among the notable gainers was Avanir Pharmaceuticals (AVNR), which surged $5.75, or 85.31%, to $12.49 and was upgraded to Buy from Hold at Jefferies after the company announced results from its phase II clinical trial evaluating the safety and efficacy of its treatment of agitation in patients with Alzheimer's disease. Also higher was SABMiller (SBMRY), which jumped $4.72, or 8.5%, to $60.26 after the Wall Street Journal said that ABInBev (BUD) was looking to obtain financing for an acquisition of the U.K.-based brewer and Heineken (HEINY) confirmed that it rebuffed SABMiller's approach regarding a potential transaction. The news of potential consolidation in the space also drove other beer makers highers, with Molson Coors (TAP) rising $4.20, or 5.85%, to $76.00 and Boston Beer (SAM) gaining 71c, or 0.33%, to $218.47. Among the noteworthy losers was Tesla (TSLA), which dropped $25.34, or 9.08%, to $253.86 after Morgan Stanley analyst Adam Jones wrote that he agrees with the assertion of Tesla's CEO Elon Musk that the company's stock may have gotten ahead of itself. Also lower were shares of NPS Pharmaceuticals (NPSP), which fell $5.42, or 16.56%, to $27.28 after Oppennheimer and Jefferies stated that approval of its Natpara drug for hypoparathyroidism could be delayed after concerns were raised during an FDA panel meeting, even though the advisors were in favor of approving the drug. INDEXES: The Dow rose 43.63, or 0.26%, to 17,031.14, the Nasdaq dropped 48.70, or 1.07%, to 4,518.90, and the S&P 500 declined 1.41, or 0.07%, to 1,984.13.
12:31 EDTSBMRYOn The Fly: Midday Wrap
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10:50 EDTSBMRYBrewers climb after Heineken turns down SABMiller
Shares of beer makers SABMiller (SBMRY) and Molson Coors (TAP) are climbing after Heineken (HEINY) confirmed that it rebuffed SABMiller's approach regarding a potential acquisition. Additionally, the Wall Street Journal reported that another company in the sector, ABInBev (BUD), was looking to obtain financing for an acquisition of U.K.-based SABMiller, but that report was refuted by CNBC's David Faber. WHAT'S NEW: Heineken announced yesterday that it has been approached by SABMiller regarding a potential acquisition, but concluded that SABMiller's proposal is non-actionable. The Heineken family has informed SABMiller of its intention to "preserve the heritage and identity of Heineken as an independent company," the beer maker stated. Meanwhile, The Wall Street Journal reported, citing an unnamed source, that ABInBev is in talks with banks about financing a takeover of SABMiller. The deal could be worth nearly $122B, the newspaper added. However, CNBC's David Faber this morning disputed the accuracy of the report, saying that ABInBev was not in talks to receive financing for a SABMiller takeover and that the companies were not in discussions about a transaction. ANALYST REACTION: In a note to investors on Saturday, ISI Group analyst Robert Ottenstein recommended buying shares of Molson Coors, SABMiller. and ABInBev. SABMiller's attempt to buy Heineken could indicate that the U.K-based company thinks that it will receive a takeover offer from ABInBev in the near-term, the analyst believes. It's likely that SABMiller expects an offer by ABInBev "in the foreseeable future," causing the British brewer to explore all strategic options, Ottenstein contended. Additionally, Ottenstein does not believe that SABMiller is looking to prevent a takeover by ABInBev and he does not expect Heineken to sell itself. Heineken's management said in 2012 that the family which controls the company takes a very long-term view of the business and is unlikely to permit it to be sold, Ottenstein stated. WHAT'S NOTABLE: In June, research firm ISI Group said that if ABInBev were to acquire SABMiller, Molson Coors would likely buy SABMiller's 58% stake in their U.S. joint venture, MillerCoors , at an attractive, very accretive price. Such a deal would provide AmInBev with a solution to U.S. anti-trust issues, the firm stated. Also in June, Molson Coors CEO Peter Swinburn said he wouldn't rule out buying SABMiller's stake in MillerCoors if it becomes available. PRICE ACTION: In mid-morning trading, Molson Coors climbed nearly 7% to $76.66, SABMiller rallied 10% to $61.24, and ABInBev gained 3% to $114.50 and Heineken rose 2% to $39.19.
09:16 EDTSBMRYOn The Fly: Pre-market Movers
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09:04 EDTSBMRYAB InBev not in talks for financing for SABMiller deal, CNBC reports
AB InBev (BUD) is not in talks for financing for a deal with SABMiller (SBMRY) and the companies are not currently in talks about any transaction, according to CNBC's David Faber, citing sources. Faber's reporting refutes an earlier report from The Wall Street Journal, which also cited a source.
09:03 EDTSBMRYAB InBev not in talks about financing for SABMiller bid, CNBC's Faber says
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07:40 EDTSBMRYAnheuser-Busch InBev volatility expected to move on consolidation report
Anheuser-Busch InBev (BUD) volatility is expected to move on sources say that SABMiller (SBMRY) has approached Heineken (HINKY) about an offer for the brewer to help defend itself against a possible takeover attempt by Anheuser-Busch, says Bloomberg. Overall option implied volatility of 18 is near its 26-week average of 19 according to Track Data, suggesting non-directional price movement.
07:32 EDTSBMRYAB InBev in talks with banks for financing for SABMiller deal, WSJ reports
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06:05 EDTSBMRYHeineken says SABMiller acquisition proposal non-actionable
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September 14, 2014
15:55 EDTSBMRYSABMiller said to approach Heinenken with offer, Bloomberg says
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September 9, 2014
10:27 EDTSBMRYMolson slips after BTIG views speculated M&A as unlikely
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