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photo by mindexpansi0n
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Anheuser-Busch(NYSE: BUD) had a going away party today(not really). Today’s earnings report beat the estimate that the street was expecting. Yes, it was only $0.02(1.8%) but they beat it just the same. The makers of Budweiser posted net income of $689 million, or 95 cents a share on Wednesday, on sales of $4.72 billion. Thomson Reuters estimates called for 93 cents on $4.71 billion.
BUD shares closed Wednesday at $67.36, up 11 cents.
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In recent weeks Anheuser-Busch agreed to a takeover by InBev(BR: INB) for $65 a share which comes to $52 billion(just in case you had a hangover and missed the news).
I’m not a Bud drinker(never was either), but this is an American icon to be held in honor. To see it go to foreign investor is a shame for a red-blooded patriot. What’s next, the New York Yankees purchased by Petroleo Brasileiro(NYSE: PBR).
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Growing up in the NY/NJ area both of these giants are landmarks in their communities that they are in, but from the looks of things, the landscapes are about to change.
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It is a little bittersweet to see such an icon go. Will the Cardinals be playing at InBev stadium? Still, my holding is still American sort of since I have it through Berkshire Hathaway.