|Over a month ago|
Craft Brew shareholders approve proposed deal with Anheuser-Busch » 16:1902/2502/25/20
Craft Brew Alliance, Inc.…
Craft Brew Alliance, Inc. (BREW) announced that its shareholders voted at a special meeting of shareholders held today to adopt the agreement, announced November 11, 2019, that will create an expanded partnership between CBA and Anheuser-Busch Companies (BUD), with A-B agreeing to purchase the remaining CBA shares it does not already own in a merger transaction for $16.50 per share, in cash. "On behalf of CBA's Board of Directors and executive team, I would like to thank our shareholders for their overwhelming support of this proposed combination with A-B," said David Lord, Chairman of Craft Brew Alliance. "In addition to delivering value for our shareholders, today's outcome reflects the tremendous success that CBA and A-B have achieved in their decades-long partnership. By joining with A-B, we look forward to accelerating the potential of CBA's distinctive portfolio, led by Kona Brewing Company as a truly distinctive lifestyle brand, while continuing to invest in our local communities."
|Over a quarter ago|
Citigroup to hold a conference » 08:4112/1112/11/19
SYY, BUD, CPRI, CRI, CCEP, BREW, GSK, HLF, MED, UN, TSCDY, SWMAY, RBGLY, NSRGY, MAKSY, BTI
Global Consumer Conference will be held in London, England on December 10-11.
Craft Brew downgraded to Market Perform from Outperform at Cowen » 08:1411/1811/18/19
Cowen analyst Vivien Azer…
Cowen analyst Vivien Azer downgraded Craft Brew to Market Perform from Outperform. The analyst said the downgrade comes as the result of its offer from ABI to buy the balance of Craft Brew's equity that it does not own for $16.50 per share. Azer raised her price target to $16.50 on Craft Brew shares.
Unusual call flow in option market yesterday » 07:3511/1311/13/19
M, AMRN, BREW
Notable call activity was…
Notable call activity was cited Tuesday in Macy's (M), Amarin (AMRN), and Craft BrewCraft Brew Alliance (BREW).
Craft Brew Alliance backs FY19 CapEx view $13M-$17M » 16:4211/1211/12/19
Backs FY19 depletions and…
Backs FY19 depletions and shipments range of flat to an increase of 3%.
Craft Brew Alliance reports Q3 EPS (6c), consensus 7c » 16:4111/1211/12/19
Reports Q3 revenue…
Reports Q3 revenue $50.35M, consensus $56.88M. Kona's depletion growth of 7% in the third quarter and 6% for the first nine months continued to outperform the craft segment and beer category overall, which were down 3.7% and 2%, respectively, compared to the same period in 2018. As competition and market complexity pressured established brands in both the on and off-premise, Kona's momentum - ignited by the distribution drive earlier this year - was sustained through strong retail programming and promotional pricing initiatives. Now a top 10 craft brand as reported by Nielsen, Kona flagship Big Wave delivered double-digit domestic depletions growth in both channels during the third quarter, increasing by 17%, contributing to a 20% depletions increase year to date. During the third quarter we also made important strides in qualifying Big Wave for local production in Rio de Janeiro, which will enable us to unlock Kona's full potential in Brazil.
Fly Intel: Wall Street's top stories at midday » 12:0111/1211/12/19
DIS, CBS, VIAB, BREW, BUD, VIA, LTS, CVET, TSN, SLDB, DPLO
Stocks have been…
Fly Intel: Pre-market Movers » 09:0911/1211/12/19
AMRN, LTS, BREW, CRON, ROK, DHI, CBS, TSN, AAP, FLNT, SLDB
HIGHER: Amarin (AMRN), up…
HIGHER: Amarin (AMRN), up 17% after the FDA posted briefing documents ahead of the November 14 Advisory Committee Meeting to discuss the benefits and risks of Vascepa for an indication to reduce the risk of cardiovascular events as an adjunct to statin therapy in adult patients with elevated triglyceride levels and other risk factors for cardiovascular disease... Ladenburg Thalman (LTS), up 22% after entering into a definitive merger agreement to join companies with Advisor Group in a deal worth $1.3B... Craft Brew (BREW), up 122% after AB InBev (BUD) agreed to purchase the remaining shares of the company it does not already own in a merger transaction for $16.50 per share. UP AFTER EARNINGS: Rockwell Automation (ROK), up 11%... D.R. Horton (DHI), up 2%... Cronos Group (CRON), up 1%. DOWN AFTER EARNINGS: Tyson Foods (TSN), down 3%... Advance Auto Parts (AAP), down 6%... CBS (CBS), down 1.5%... Fluent (FLNT), down 31%. ALSO LOWER: Solid Biosciences (SLDB), down 72% after reporting that the FDA has notified the company that IGNITE DMD, its Phase I/II study of SGT-001, has been placed on clinical hold.
Little signs of information spillage in Craft Brew Alliance into deal » 08:5311/1211/12/19
Little signs of…
Little signs of information spillage in Craft Brew Alliance into deal announcement. Shares up 120% to $16.30 preopen following news that Anheuser Busch would pay $16.50 for the brewer, taking stock from 52wk lows back to the 52wk highs seen earlier this year, before shares tanked following news that Anheuser Busch would not acquire the company. Option flow shows no signs of informed trading ahead of the deal, with only a few hundred contracts trading in the past week. One tiny position opened last week will cover a few rounds for the buyer, who paid a nickel for 50 Nov 10 calls on Thursday, a $250 outlay that is worth $30K this morning. chart
Craft Brew downgraded to Hold from Buy at Maxim » 07:5311/1211/12/19
Maxim analyst Stephen…
Maxim analyst Stephen Anderson downgraded Craft Brew (BREW) to Hold from Buy with a price target of $16.50, up from $16, after yesterday's announcement that the company agreed to be acquired by Anheuser-Busch Inbev (BUD) for $321M, or $16.50 per share. The analyst believes that a higher bid from a rival is unlikely.