Nov. 11, 2015, 11:07 AM
- There are some gentle gains across the beer sector after Anheuser-Busch InBev (BUD +1.1%) and SABMiller (OTCPK:SBMRY +2.2%) formalize their merger plan.
- Heineken (OTCQX:HEINY +1.6%), Molson Coors (TAP +0.7%), Ambev (ABEV +0.9%), Carlsberg (OTCPK:CABGY +5.9%), Craft Brew Alliance (BREW +1.8%), and Boston Beer (SAM +0.2%) are showing increases of varying degrees.
- Most analysts think the beer giants will make the necessary concessions to appease regulators in the U.S. and China. On SA, Chris DeMuth says the deal will extend the reach of the best operators in the business.
- Molson Coors in particular is widely identified as a winner in the deal through its pickup of a full stake in MillerCoors. Still to play out is what beer company makes a bid for SABMiller's position in CR Snow in China. China Resources Beer Holdings (OTCPK:CRHKY, OTC:CRHKF) is the 51% owner of the alluring JV.
- Previously: Molson Coors sees huge synergies down the road from MillerCoors deal (Nov. 11 2015)
- Previously: AB InBev, SABMiller seal MegaBrew deal (Nov. 11 2015)
Sep. 16, 2015, 11:01 AM
- A statement from Anheuser-Busch InBev (BUD +5%) indicates the company must make a formal offer for SABMiller (OTCPK:SBMRY +19.5%) before October 14 or take a pass on the mega-merger to stay in compliance with U.K. law.
- There's a ripple effect with beer stocks circling the globe that includes distributors such as Compania Cervecerias Unidas (CCU +3.1%), Fomento Economico Mexicano (FMX +1.8%), AmBev (ABEV +2.1%).
- Another intriguing aspect of a potential A-B takeover of SABMiller is the side effects on the food industry if 3G Capital is fully engaged on the deal. 3G is a major player in food mergers and a factor in how investors value companies such as Mondelez International (MDLZ +0.2%), PepsiCo (PEP +0.4%), TreeHouse Foods (THS +0.1%), Campbell Soup (CPB +1.9%), JM Smucker (SJM +1.1%), and other food names.
- A-B InBev statement (.pdf)
- Previously: AB InBev prepping offer for SABMiller
- Previously: Beer stock rally with M&A on tap
Apr. 24, 2015, 11:01 AM
- Continuing details on numerous corruption scandals, sluggish economic growth, and credit downgrades are garnering most of the headlines out of Brazil, but the Bovespa's 2.1% gain today has that index higher by 21% since a late-January bottom.
- A 70% gain in Petrobas over the last month and 25% for Vale lead the way. The banks are also on the move, though less subdued: Banco Santander Brasil (NYSE:BSBR) and Itau Unibanco (NYSE:ITUB) are up 13% and 16%, respectively. Banco Bradesco (NYSE:BBD) - recently the subject of a Goldman downgrade - is off 6% over the last month and 19% YTD.
- The iShares MSCI Brazil ETF (NYSEARCA:EWZ) has lagged - its top three holdings are Itau Unibanco, Ambev (NYSE:ABEV), and Banco Bradesco. The ETF is flat YTD, though higher by 15% over the last month.
- ETFs: EWZ, BRF, BRZU, EWZS, BRXX, BRAQ, BZQ, BRAZ, BRAF, UBR, DBBR, FBZ
Dec. 18, 2014, 5:39 PM
Nov. 3, 2014, 5:38 PM
Jan. 24, 2014, 5:39 PM
Apr. 30, 2013, 4:10 AMAnheuser-Busch Inbev (BUD): Q1 Ebitda of $3.43B misses by $0.14B. Revenue +1.5%. Volume declined by 4.1%, led by an 8.2% plunge in Brazil; China volume rose 15.5%. Cost of sales rose 3.8% due to input costs. Gross margins shrunk 96 bps to 57.4%. Shares -2.9% in Brussels. (PR, Bloomberg) | Apr. 30, 2013, 4:10 AM
Feb. 29, 2012, 3:13 PM
Spain's Repsol (REPYY.PK -5.6%) follows shares of its Argentine subsidiary YPF sharply lower on worries President Fernandez could announce greater intervention into the oil giant's operations on Thursday. The Argentina ETF: ARGT -2.4% - also taking a hit as YPF no doubt makes up a nice chunk of its holdings.| Feb. 29, 2012, 3:13 PM
Aug. 24, 2011, 10:00 AM