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Fly News Breaks for August 27, 2019
BUD, HEINY
Aug 27, 2019 | 11:59 EDT
Barclays analyst Laurence Whyatt downgraded AB InBev (BUD) to Underweight from Equal Weight and lowered his price target for the shares to 74 euros from 85 euros. The company's key markets of Brazil, Colombia and South Africa are likely to cede market share to Heineken (HEINY), while its largest market, the U.S., is likely to remain in a structural decline, Whyatt tells investors in a research note. Further, he believes AB InBev's Chinese business is likely to underperform other European operators.
News For BUD;HEINY From the Last 2 Days
BUD
Feb 28, 2020 | 12:15 EST
Bearish flow noted in Anheuser Busch with 9,786 puts trading, or 6x expected. Most active are Mar-20 50 puts and Mar-20 55 puts, with total volume in those strikes near 4,200 contracts. The Put/Call Ratio is 1.66, while ATM IV is up over 11 points on the day. Earnings are expected on May 7th.
BUD
Feb 28, 2020 | 07:37 EST
Guggenheim analyst Laurent Grandet lowered the firm's price target on AB InBev to $90 from $97 due to lower earnings estimates following the company's "soft" Q4 and weaker FY20 guidance. However, he reiterates a Buy rating on the shares, telling investors that he believes the core business is healthier than the company's guidance implies. He is encouraged that the U.S. is improving and Brazil seems more stable excluding currency headwinds and commodity pressures, although Grandet said China is now the primary risk due to the coronavirus outbreak and he suspects the stock could remain under pressure as coronavirus fears play out. Still, following the sharp pullback after earnings, Grandet recommends investors accumulate AB InBev shares, especially on weakness.
BUD
Feb 27, 2020 | 09:25 EST
Says does not expect COVID-19 virus outbreak to impact long-term health of the business. Comments taken from Q4 earnings conference call.
BUD
Feb 27, 2020 | 09:13 EST
HIGHER: Gilead (GILD), up 7% after announcing the initiation of two Phase 3 clinical studies to evaluate the safety and efficacy of remdesivir in adults diagnosed with COVID-19, or novel coronavirus... Sorrento Therapeutics (SRNE), up 1% after announcing it has initiated a clinical and manufacturing collaboration with Celularity to expand the therapeutic use of Celularity's CYNK-001, an allogeneic, off-the-shelf, placental-derived Natural Killer cell therapy, to the treatment and prevention of coronavirus infections. UP AFTER EARNINGS: Square (SQ), up 6%... Etsy (ETSY), up 9%. DOWN AFTER EARNINGS: AB InBev (BUD), down 9%... Discovery (DISCA), down 6%... QEP Resources (QEP), down 19%... Anaplan (PLAN), down 32%... Portola Pharmaceuticals (PTLA), down 15%. ALSO LOWER: Tesla (TSLA), down 6% after Bloomberg reported registrations of new Teslas in China plunged 46% last month as the coronavirus outbreak adds to a slump in the country's car market... Virgin Galactic (SPCE), down 16% after Morgan Stanley analyst Adam Jonas downgraded shares to Equal Weight from Overweight and Credit Suisse analyst Robert Spingarn also downgraded the stock to Neutral from Outperform.
BUD
Feb 27, 2020 | 07:05 EST
The company said: "In FY20, we expect EBITDA growth of 2-5%, with the majority of our growth to be delivered in the second half of theyear. In 1Q20, we expect EBITDA to decline by around 10% given the impact of COVID-19 on our results as well as a challenging comparable, especially in Brazil. The outlook for both FY20 and 1Q20 reflects our current assessment of the scale and magnitude of COVID-19, which is subject to change as we continue to monitor the development of the outbreak. We expect CoS per hl to increase by mid-single digits. We expect the normalized ETR in FY20 to be in the range of 27% to 29%, excluding any gains and losses relating to the hedging of our share-based payment programs. We expect net capital expenditure of around 5.0 billion USD in FY20 as we are increasing investments in innovation and consumer-centric initiatives. We expect dividends to be a growing flow over time, although growth in the short term is expected to be modest given our deleveraging commitments."