SBMRY

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  • uploads///becccdbfeeee
    Miscellaneous

    Why SABMiller Rejected 3 Anheuser-Busch InBev Bids

    The partial shares option structured with ABI’s proposal is not an advantageous option for many of SABMiller shareholders. This is due to the illiquidity of the restricted shares proposed to be issued by ABI under the option.

    By Phalguni Soni
  • uploads///Q Pre Valuation
    Consumer

    Altria’s Valuation Is Higher than Peers ahead of 2Q16 Results

    Altria Group (MO) and Philip Morris International (PM) are trading at higher valuations relative to the S&P 500 Index (SPY) (IVV) (VOO) and the Dow Jones Industrial Average (DIA).

    By Penny Morgan
  • uploads///Part
    Miscellaneous

    Analyzing Altria’s Response to ABI’s Bid for SABMiller

    Altria’s support as SABMiller’s largest shareholder is vital. The company has held a stake in SABMiller since 2002.

    By Phalguni Soni
  • uploads///Part
    Miscellaneous

    Anheuser-Busch InBev Bids for SABMiller: Analysis

    On October 7, Anheuser-Busch InBev announced a formal cash bid of 42.2 pounds per share to SABMiller’s board. This was the third offer rejected by SABMiller.

    By Phalguni Soni
  • uploads///Part
    Miscellaneous

    The Proposed ABI-SABMiller Deal: Will Market Concentration Rise?

    The top five beer brewers accounted for nearly 52% of the total global sales volume in 2014. ABI is the leader worldwide with 20.8% of the market share.

    By Phalguni Soni
  • uploads///FQ revenue
    Earnings Report

    Altria Missed Revenue Estimates in Fiscal 4Q15

    Altria’s (MO) net revenue of excise taxes increased 2.5% to $4.7 billion in fiscal 4Q15. But it missed revenue estimates after beating them for five consecutive quarters.

    By Penny Morgan
  • uploads///Key Financial Ratios
    Consumer

    Boston Beer Company: An introduction to better beer business

    Boston Beer Company Inc. (SAM) is the largest craft brewer in the United States, having sold ~2.7 million barrels of proprietary core brand products.

    By Xun Yao Chen
  • uploads///STZ Beer Q
    Earnings Report

    STZ Can’t Go Wrong with Corona in Its Beer Segment

    Following a strong performance by the Beer segment in the first half of fiscal 2017, Constellation Brands (STZ) expects the segment’s net sales for fiscal 2017 to grow 16%–17%.

    By Sirisha Bhogaraju
  • uploads///STZ Beer
    Earnings Report

    Will Constellation Brands’ Beer Portfolio Continue to Impress?

    Constellation Brands (STZ) is leveraging the strong demand for its imported beers. It has an impressive portfolio of Mexican beer brands.

    By Sirisha Bhogaraju
  • uploads///Portfolio Breakdown of the FDIVX
    Fund Managers

    Assessing FDIVX’s Year-to-Date Portfolio Changes

    The Fidelity Diversified International Fund (FDIVX) primarily invests in non-US securities and prefers common stocks for investing in equities.

    By David Ashworth
  • uploads///Will the BOEs Rate Cut Further Strengthen the UKs Consumer Spending
    Macroeconomic Analysis

    What Will Drive Consumerism in the UK after Brexit?

    After the UK’s exit from the European Union (EZU) (HEDJ), it’s expected that the UK’s economic activity will fall.

    By Sarah Sands
  • uploads///STZ segments
    Earnings Report

    Can Constellation Brands’ Beer Business Continue Its Strong Run?

    In fiscal 2016, which ended on February 29, 2016, Constellation Brands’ beer business accounted for 55.3% of the company’s sales, up from 52.9% in fiscal 2015.

    By Sirisha Bhogaraju
  • uploads///Q revenue overview
    Earnings Report

    Altria Missed Estimates Last Quarter—How Was Its 1Q16?

    After missing revenue expectations last quarter, Altria came in ahead of analysts’ estimates in 1Q16. Analysts had projected revenue of $4.4 billion.

    By Penny Morgan
  • uploads///Q EPS overview
    Earnings Report

    By How Much Did Altria’s 1Q16 Earnings Outperform Estimates?

    Altria Group (MO) released its 1Q16 earnings on April 28, 2016. Its adjusted diluted EPS (earnings per share) rose 14.3% to $0.72 in 1Q16.

    By Penny Morgan
  • uploads///STZ wine
    Earnings Report

    Constellation Brands to Acquire Prisoner Wine Brands

    Constellation Brands (STZ) is acquiring The Prisoner Wine Company’s portfolio of brands from Huneeus Vintners, a fine wine company.

    By Sirisha Bhogaraju
  • uploads///Total IG Bond Issuance in Q
    Company & Industry Overviews

    Which Company Issued the Most High-Grade Bonds in 1Q16?

    US corporates dominated the primary market for high-grade bonds in 1Q16 ended March 31, 2016. US corporates made up 32.2%, or $147.7 billion, of all issues.

    By Lynn Noah
  • uploads///FAOAXs Top Ten Invested Geographies
    Fund Managers

    What You Should Know about the Fidelity Advisor Overseas Fund

    The Fidelity Advisor Overseas Fund – Class A (FAOAX) was incepted in September 1996 and has an expense ratio of 1.4%.

    By David Ashworth
  • uploads///STZ Beer capita expenditure
    Earnings Report

    Constellation Brands Plans to Ramp Beer Production

    Constellation Brands is ramping up its beer production capacity in response to rising demand. The company’s beer brands are quite popular with US consumers.

    By Sirisha Bhogaraju
  • Company & Industry Overviews

    How PEUGX Managed to Place in the Middle of the Pack in 2015

    What saved PEUGX in 2015 were its picks from the consumer staples, telecom services, and utilities sectors.

    By David Ashworth
  • uploads///Pre Revenue
    Earnings Report

    Will Altria Group Beat Wall Street’s Revenue Estimates in 4Q15?

    Altria Group is set to release its 4Q15 and 2015 earnings on January 28, 2016. MO’s earnings were in-line with Wall Street analysts’ expectations in 3Q15.

    By Penny Morgan
  • uploads///Total IG Bond Issuance in WE Jan
    Company & Industry Overviews

    Anheuser-Busch Had Record Issuances in High-Grade Bonds Last Week

    Anheuser-Busch InBev (BUD) issued $46.0 billion in high-grade bonds rated A2/A- rated on January 13. This was the second largest high-grade bond issuance on record.

    By Lynn Noah
  • Macroeconomic Analysis

    Healthcare Spoiled PEUGX’s Year-to-Date 2015

    In the trailing-one-year period, PEUGX has returned 1.0%, while from November’s end until December 22, the fund has fallen 4.5%.

    By David Ashworth
  • Macroeconomic Analysis

    Why October Wasn’t the Month for the Putnam Europe Equity Fund

    The Putnam Europe Equity Fund rose 4.5% in October 2015 from a month ago. It fell 4.7% in the three-month period ended October 30, 2015.

    By David Ashworth
  • uploads///defafbcdaacbcdeede
    Miscellaneous

    The Biggest Risks Facing an Anheuser-Busch InBev–SABMiller Deal

    SABMiller’s board has refused three bids made by Anheuser-Busch InBev. ABI’s third offer was for 42.15 pounds per share.

    By Phalguni Soni
  • uploads///Part
    Miscellaneous

    The Tailwinds Favoring an ABI–SABMiller Transaction

    ABI expects to finance the transaction using a combination of internally generated cash and external debt.

    By Phalguni Soni
  • uploads///Part
    Miscellaneous

    An Analysis of Anheuser-Busch InBev’s Debt Levels and Leverage

    ABI could leverage ~$50 billion through debt financing. As of June 30, its total debt was ~$51.5 billion, with a total-debt-to-total-assets ratio of ~35.9%.

    By Phalguni Soni
  • uploads///Part
    Miscellaneous

    Projected Synergies from an Anheuser-Busch InBev–SABMiller Deal

    ABI is a leading company in the consumer staples sector. It has had a strong record of integrating acquisitions and delivering synergies ahead of target.

    By Phalguni Soni
  • uploads///Part
    Miscellaneous

    Anheuser-Busch InBev’s Acquisition of SABMiller: Divestitures at a Glance

    ABI has been one of the most active companies in the acquisition of other beer firms. The Belgium-based company itself came from a prior $52 billion deal.

    By Phalguni Soni
  • uploads///facccadedcceeb
    Miscellaneous

    Altria and Other Elephants in the Room during a Potential ABI-SABMiller Deal

    Altria Group owns about 27% of SABMiller. Based on market cap stats as of September 21, that’s about 23% of Altria’s market value.

    By Phalguni Soni
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