As previously reported, BofA Merrill Lynch analyst Bryan Spillane downgraded Molson Coors (TAP) two notches, to Underperform from Buy, citing the heightened potential he sees that the company will need to increase spending to stabilize core brands' market share and invest in premium and "beyond" beer segments. To support his view, Spillane notes that Molson Coors has continued to lose market share in FY19 as competitors such as AB InBev (BUD), Heineken (HEINY), Constellation (STZ) and Boston Beer (SAM) have increased marketing/brand support and that products like hard seltzers and canned wine pose further risk to domestic light beer. He lowered his price target on Molson Coors shares to $50 from $70.

amuel Adams is excited to announce its three-year partnership with the Pan-Mass Challenge as the official beer and non-alcoholic beer offering. The sponsorship will include the award-winning non-alcoholic portfolio of Just The Haze IPA and Golden Lager, as well as fan favorites such as Boston Lager, Summer Ale and more.

Reports Q1 revenue $431M, consensus $427.89M. "Barnes continues to advance our business transformation strategy with solid first-quarter results, additional long-term Aerospace agreements benefiting from our MB Aerospace acquisition, and the completed sale of the Associated Spring and Hanggi businesses in April," said Thomas J. Hook, President and CEO of Barnes. "Following the divestiture, an increasing majority of our earnings are driven by Aerospace, where we are investing to take full advantage of strong demand and attractive growth opportunities. And we continue to integrate, consolidate, and rationalize our Industrial business to further optimize our portfolio for long-term profitable growth. Our comprehensive strategic review is ongoing, and we remain committed to reshaping and positioning Barnes to maximize value for our shareholders. We look forward to sharing our ongoing progress."

Sees depletions and shipments percentage change down low single digit to up low single digit. Sees price increases 1%-2%. Sees capital spending $90M-$110M.