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☆ Tractor Supply Co. backtracks on DEI roles and goals
▼ + stars: | 2024-06-29 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

New York CNN —Tractor Supply Company has eliminated its diversity, equity and inclusion initiatives as part of what the retail chain says is a push to distance itself from “nonbusiness activities” after conservative backlash from some of its customer base. “You can’t say you’re going to try to do at Tractor Supply what they do at the Apple headquarters in Cupertino, California — that’s definitely not going to work,” he said. “Tractor Supply Co is turning its back on their own neighbors with this shortsighted decision,” Eric Bloem, vice president of Programs and Corporate Advocacy at the Human Rights Campaign, told CNN in a statement Saturday. This is why the Tractor Supply — and most of the country’s biggest employers — have worked with us for years to create inclusive policies and practices. Those are the parts that business leaders aren’t thinking about as they are folding on DEI.”

Persons: ”, “, Robby Starbuck, Starbuck, X, ” Shaun Harper, Harper, that’s, ” Eric Bloem, —, Bud Light’s, influencer Dylan Mulvaney Organizations: New, New York CNN — Tractor Supply Company, Supply, Tennessee’s, Congressional, Tractor Supply, University of Southern, CNN, Tractor, National FFA Organization, Apple, ”, Human Rights, “, Companies, Anheuser, Busch InBev, Target Locations: New York, University of Southern California, Brentwood , Tennessee, Cupertino , California, United States

☆ Stocks making the biggest moves before the bell: Nvidia, Ferrari, Planet Fitness, Cinemark and more
▼ + stars: | 2024-06-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

UPS shares were unchanged in premarket trading. Planet Fitness — The budget-friendly gym chain climbed 3.1% after TD Cowen named the stock a top pick and raised its rating to buy from hold. Affirm — The buy-now-pay-later stock jumped 3.2% on the heels of Goldman Sachs' initiation at a buy rating. IBM — The legacy tech giant moved 1.4% higher after Goldman Sachs initiated coverage with a buy rating. Cinemark — Shares popped 3.3% after Roth MKM upgraded the American movie theater chain to buy from neutral, citing "meaningful box office improvement."

Persons: Eli Lilly — ResMed, Eli Lilly's, Eli Lilly, Jefferies, TD Cowen, Goldman Sachs, Goldman, Roth MKM, —, Michelle Fox, Sarah Min, Jesse Pound Organizations: Coyote Logistics, UPS, RXO, Coyote, Nvidia, Carrier, Citi, Ferrari —, UBS, Anheuser, Busch InBev —, IBM

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, IBM, Micron, Apple, Tesla, Broadcom, Planet Fitness, UnitedHealth & more
▼ + stars: | 2024-06-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley initiates Ryder System as overweight Morgan Stanley said the transformation is underway for the transport company. " Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health-care company is compelling. "With this note, we are adjusting our Top Pick to UNH (from CI), where its relative share price performance presents an opportunity in our view." Morgan Stanley initiates Elevance Health as overweight Morgan Stanley called out Elevance Health's earnings power as it initiated coverage of the stock. " Melius reiterates Apple as buy Melius raised its price target on Apple to $260 per share from $227.

Persons: Jefferies, kingmaker, CARR, Goldman Sachs, Goldman, Morgan Stanley, Ryder, UnitedHealth, Bernstein, Tesla, TD Cowen, TD, it's, Melius, BEV, Eli Lilly, LLY Organizations: Nvidia, Citi, Micron, Carrier, UBS, Anheuser, Busch InBev, IBM, Bank of America, Broadcom, VMWare, CI, Elevance Health, Cherniere Energy, Cheniere Energy Inc, Ally, Barclays, Apple, " Bank of America, Alexa, Reuters, China, JPMorgan, Royal Locations: LLY, Royal Caribbean

☆ Stocks making the biggest moves midday: ResMed, Affirm, Nvidia, Anheuser-Busch and more
▼ + stars: | 2024-06-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Affirm — The buy now, pay later stock popped 10% after Goldman Sachs assumed coverage of the name at a buy rating. Roth MKM upgraded Cinemark to a buy from a neutral rating, saying that headwinds should soon shift to "very attractive tailwinds." Anheuser-Busch InBev — The brewing company's shares rose around 3% after UBS upgraded the stock to buy from neutral. Carrier Global — The heating and ventilation stock rose 3% on the heels of a Citi upgrade to buy from neutral. Energy stocks – A slate of energy names rose as crude oil futures jumped to start the last week of June.

Persons: Eli Lilly, tirzepatide, Eli Lilly's, ATTR, Goldman Sachs, Will Nance, Roth MKM, headwinds, Morgan Stanley, Cowen, Ferrari, Brent, SLB, Baker Hughes, — CNBC's Lisa Han, Jesse Pound, Alex Harring, Sean Conlon, Samantha Subin Organizations: Systems, Food and Drug Administration, Coyote Logistics, UPS, Alnylam Pharmaceuticals, Nvidia, Microsoft, Anheuser, Busch InBev, UBS, Busch, IBM, Ryder, Carrier, Citi, Ferrari —, Energy, West Texas Intermediate, APA Locations: U.S

☆ Corona brewer Constellation is set to grab more prime real estate at stores — driving sales and its stock
▼ + stars: | 2024-06-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Constellation Brands has an upper hand in a battle for coveted — but shrinking — territory in stores, according to new Wall Street research. In fact, displays provide more of a lift to sales than shelf-space gains for brands, Jefferies analysts said. STZ 5Y mountain Constellation Brands' stock performance over the past five years. We have a buy-it-here 1 rating on Constellation Brands and a price target of $300, implying about 14% upside from Friday's close. Constellation Brands' Corona Light is displayed for sale at a grocery store in New York.

Persons: Jefferies, Molson Coors, we've, —, Jim Cramer, Eli Lilly, Jim, Elliott, Jim Cramer's, Scott Eells Organizations: Constellation Brands, Modelo, Pacifico, Jefferies, Anheuser, Busch InBev, Molson, Boston Beer, Club, Investing Club, Elliott Management, CNBC, Bloomberg, Getty Locations: Corona, Victoria, U.S, New York

Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.

Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's

☆ Jon Stewart is fed up with 'hollow corporate pandering'
▼ + stars: | 2024-06-11 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Read previewJon Stewart wants corporations to stop their "hollow corporate pandering" and just admit that all they care about is their bottom line. AdvertisementConservatives boycotted Bud Light last summer after the beer maker partnered with trans influencer Dylan Mulvaney for a social media promotion. And Bud Light waffled in response. Mulvaney said Bud Light never reached out to her after the backlash, criticizing the company for not standing by her. Meanwhile, Bud Light sought to win some of its customers back by offering free beer promotions.

Persons: —, Jon Stewart, Stewart, Bud, Dylan Mulvaney, Mulvaney, Bud Light, Bud Light's Organizations: Service, America, Business, Target, Bud Light, Anheuser, Busch

☆ Supreme Court Justice Alito sold Bud Light stock, then bought Coors during boycott
▼ + stars: | 2024-05-20 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Supreme Court Justice Samuel Alito sold shares of beer giant Anheuser-Busch InBev as conservatives were ditching the Bud Light brewer over its partnership with a transgender social media influencer . The Supreme Court did not immediately respond to CNBC's request for comment on Alito's transaction report or the timing of his stock activity. In May 2023, Modelo replaced Bud Light as the top-selling beer in the U.S. Data from around that time showed sales of Bud Light had dropped nearly 25% year over year. Roth noted that the beer companies in question have no pending business before the Supreme Court that he can think of.

Persons: Samuel Alito, Alito, Bud Light, Busch, influencer Dylan Mulvaney, Mulvaney, —, Martha, Ann Alito, Gabe Roth, " Roth, Roth Organizations: East, Anheuser, Busch, Molson Coors, Supreme, Busch InBev, Bud, Modelo, InBev, Coors, Blacks, New York Times, Trump, U.S . Capitol, Times, CNBC, Bud Light Locations: Washington , DC, U.S

☆ Corporate America Is Going Un-Woke: Reversing DEI, Sustainability Plan
▼ + stars: | 2024-05-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

Plenty of companies are reining in their rhetoric and in some cases action on issues such as sustainability and diversity. Over the past decade, many corporations have at least professed to take a more active role in social issues, under pressure from their customers and, more importantly, employees. After last year's Bud Light debacle, which was a real blow to its business, executives fear they'll be the next target of some anti-woke outcry. For the fourth quarter of 2020, 131 companies mentioned ESG, and 34 mentioned DEI or diversity and inclusion. This may be a great un-wokening, but maybe corporate America was actually never that committed to the idea in the first place.

Persons: Paul Polman, It's, Naomi Wheeless, Eventbrite, Donald Trump, Larry Fink, George Floyd's, ESG, Andrew Jones, there's, Bud Light, influencer Dylan Mulvaney, haven't, Philip Mirvis, Bud, they'll, they'd, Jones, it's, Fink, FactSet, — we're, wasn't, Alison Taylor, University's, we've, Roe, Wade, Taylor, isn't, Dylan Mulvaney, Bud Light's, Kenneth Pucker, Emily Stewart Organizations: Unilever, Unilever wasn't, Unilever isn't, Companies, Business, Sporting Goods, Conference Board's ESG, Morningstar, Babson, AIG, Amazon, ExxonMobil, University's Stern School of Business, Anheuser, Busch, Fletcher School, Tufts University Locations: Plenty, America, ESG, New, Charlottesville

☆ Three-Stock Lunch: Shopify, Anheuser-Busch InBev SA, & Electronic Arts
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Shopify, Anheuser-Busch InBev SA, & Electronic ArtsEva Ados, ERShares COO and chief investment strategist, joins CNBC's 'Power Lunch' to discuss investment plays for three stocks: Shopify, Anheuser-Busch InBev SA, and Electronic Arts.

Persons: Electronic Arts Eva Ados Organizations: Anheuser, Busch InBev SA, Electronic Arts

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Why Corporate America is keeping quiet on abortion
▼ + stars: | 2024-04-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

New York CNN —Eight years ago, when North Carolina tried regulate how transgender people use public bathrooms, Corporate America revolted. Nearly two dozen states have either banned or severely curtailed abortion rights since Roe v. Wade was overturned two years ago. Lamberton: What we’ve seen is the natural life cycle of an idea. But in the last few years, we’ve seen that position softening. Economically, we’ve seen a great deal of volatility just in the last half decade.

Persons: CNN Business ’, Roe, Wade, we’ve, Bud, Cait Lamberton, ” Lamberton, ”, Lamberton, We’ve, Bud Light, Busch, isn’t, it’s, they’re, John Wanamaker Organizations: CNN Business, New York CNN —, America, PayPal, Associated Press, —, American Civil Liberties Union, University of Pennsylvania’s Wharton School of Business, Consumers, Anheuser, Bud, Brands, Coca Cola, Companies, Technology Locations: New York, North Carolina, Ukraine, Georgia, Philadelphia

Dana White’s diplomatic ambitions were clear, if complicated: Un-cancel Bud Light. As the chief executive of the Ultimate Fighting Championship, Mr. White was the arena-filling, Trump-loving, perpetually smirking public face of a multi-billion-dollar sport. more than 15 years earlier, was plainly hoping that a renewed affiliation might help its cause. Publicly, Mr. White appealed to friends across the conservative media, defending Bud Light’s parent company in interviews with Sean Hannity, Tucker Carlson and Charlie Kirk. “The fact that Anheuser-Busch wants to be in business with me?” Mr. White said, arguing that this alone demonstrated the success of the backlash.

Persons: Dana, Bud, White, ’, —, Bud Light, Bud Light’s, Sean Hannity, Tucker Carlson, Charlie Kirk, “, Mr Organizations: Trump, Anheuser, Busch

☆ Modelo maker Constellation's upbeat forecast should send the stock to new highs
▼ + stars: | 2024-04-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Constellation Brands reported better-than-expected quarterly earnings Thursday, driven by strength in its beer business that more than offset continued weakness in wines and spirits. Management's upbeat forecast for fiscal year 2025 should send the stock to new all-time highs. Constellation Brands Why we own it : We like Constellation Brands for its beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico. More importantly, the sales gains in the beer business are almost entirely driven by volume gains, not higher prices. Management cited Circana channel data as evidence that its beer business outperformed the total U.S. beer category and remained the top dollar sales share gainer.

Persons: Jim Cramer's, Bill Newlands, Beer, Crawford, Meiomi, Robert Mondavi, Jim Cramer, Jim, Justin Sullivan Organizations: Constellation Brands, Modelo, Anheuser, Busch Inbev, Molson Coors, Constellation, Modelo Especial, Corona, Pacifico, Management, High, Woodbridge, Lumina, Enterprise, CNBC Locations: Corona, Pacifico, STZ, Pacific, San Rafael , California

☆ 3G Capital quietly exited its Kraft Heinz investment last year
▼ + stars: | 2024-04-09 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

They had continued to be an investor and were treated as we do any investor," Kraft Heinz said in a statement to CNBC. "We did learn from their recent filing that 3G exited the Kraft Heinz stock entirely in 2023." Brazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett. Kraft Heinz sought to drive inorganic growth through a takeover bid for Unilever, but the Popsicle owner rejected its offer. In 2022, it distributed about 7% of Kraft Heinz to investors in its fund, which reportedly included tennis star Roger Federer.

Persons: Kraft Heinz, Warren Buffett, 3G's, Heinz, Buffett, Jorge Paulo Lemann, Alexandre Behring, Joao Castro, Neves, Roger Federer, Carlos Abrams, Rivera, he's Organizations: 3G, CNBC, Kraft, 3G Capital, Kraft Foods, Heinz, Busch InBev, Burger King, Big, Unilever, Securities and Exchange, Berkshire, InBev, Planters Locations: Berkshire, Lactalis

☆ Denver and its craft breweries embrace nonalcoholic beer, spirits
▼ + stars: | 2024-04-09 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +5 min

Denver Beer Co. Courtesy: Denver Beer Co. Alcohol-free beverage options have skyrocketed over the past few years, and that trend has especially picked up in the form of nonalcoholic beer in Denver, an epicenter for craft breweries. Courtesy: Ceria Brewing CompanyDenver's beer sceneFood trend expert Kara Nielsen said that because Denver is such a beer-centric city, the rise of nonalcoholic beer and spirits fits with the city's narrative. But then, he said, nonalcoholic and alcohol-free beer became trendy, attracting more mainstream customers.

Persons: Technomic, Keith Villa, Villa, Jodi, Keith, Jodi Villa, Kara Nielsen, Nielsen, It's, Niki Sawni, Sawni, he's, hasn't, Niki, Anika Sawni Organizations: Denver Beer, Denver Beer Co, Anheuser, Busch, Ceria Brewing Company, CNBC, Ceria Brewing, Grüvi Locations: Denver, Rocky, Technomic, NielsenIQ, Colorado

☆ Modelo maker Constellation Brands is primed for market share gains but we still see one issue with the company
▼ + stars: | 2024-04-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Constellation Brands stock is looking like it could be ready to break out, with its strong beer business well-positioned for market share gains in the upcoming fiscal year. Morgan Stanley anticipates Constellation to continue gaining market share at the expense of Bud Light during this period. Since Constellation tends to boast industry-leading results in its beer business, we're confident it will deliver strong numbers again next week. Over the past few years, Constellation has been trying to boost sales in its wine and spirits business — shifting from lower-priced brands to more premium names. While wine and spirits make up a small part of Constellation's overall business, Jim has said it must go.

Persons: It's, Jim Cramer, Morgan Stanley, Jeff Marks, Jim, Bud Light, Marks, Piper Sandler, Newlands, Kim Crawford, Eli Lilly, Elliott, Jim Cramer's, Justin Sullivan Organizations: Constellation Brands, Anheuser, Busch Inbev, Modelo, Nielsen, Cinco de Mayo, Bud Light, Constellation, Piper, Elliott Investment Management, CNBC Locations: Corona, Pacifico, U.S, GLP, Modelo, San Rafael , California

☆ Five stocks to buy and hold for the long term, according to the pros
▼ + stars: | 2024-04-02 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +8 min

CNBC Pro asked three fund managers for their stock picks to to buy now and hold for the longer term. The average price target for PepsiCo is $186.77, according to FactSet data, giving it potential upside of 6.7%. According to Factset data, of 30 analysts, 18 give the stock a buy or overweight rating while 12 have a hold rating. According to FactSet data, of 18 analysts, 14 give the stock a buy or overweight rating, three have a hold rating and one has a sell rating. The average price target for PDD is $180.12, according to FactSet data, giving it potential upside of 54.9%.

Persons: David Dietze, PepsiCo Dietze, Dietze, Bud Light, Michael Field, Edenred, Jason Hsu, Hsu, OpenAI, Elon Musk, Sam Altman, Greg Brockman, Altman Organizations: Wealth Management, CNBC Pro, PepsiCo, Coca Cola, Anheuser, Busch, Brussels Stock Exchange, New York Stock Exchange, Euronext Paris Stock Exchange, Microsoft, Rayliant Global Advisors, OpenAI, Nasdaq Locations: Belgian, U.S, South America, Europe, Edenred, China

☆ Best Buy offers to screen LGBTQ nonprofit donations after conservative pressure, filing shows
▼ + stars: | 2024-03-29 | by ( Matt Lavietes | Brooke Sopelsa | ) www.cnbc.com time to read: +9 min

"Best Buy has partnerships with and contributes to organizations and activists that promote the practice of gender transition surgeries on minors and evangelize gender theory to minors. Why are Best Buy shareholders funding the proliferation of an ideology seeking to mutilate the reproductive organs of children before they finish puberty?" "This contentious and vast disagreement between radical gender theory activists and the general public has nothing to do with Best Buy selling electronics." "Were Best Buy to agree to such a compromise with us, we will not make a splash about it." In an email on Friday, GLAAD, one of the LGBTQ nonprofits mentioned in the SEC filing, expressed its displeasure with Best Buy.

Persons: hasn't, Carly Charlson, NCPPR, —, Ethan Peck, Peck, Marina Rizzo, Rizzo, we're, Bud Light, Bud Light's, influencer Dylan Mulvaney, Sarah Kate Ellis Organizations: Securities and Exchange Commission, SEC, National Center for Public Policy Research, Best, HRC, NCPPR's Free Enterprise Institute, SAGE, GLAAD, Rights, PRIDE, NBC, Anheuser, Busch Inbev Locations: States

☆ Biden meets with Teamsters leaders as he seeks crucial union endorsement
▼ + stars: | 2024-03-12 | by ( Michael Williams | Donald Judd | ) edition.cnn.com time to read: +3 min

Washington CNN —President Joe Biden met on Tuesday with leaders from the International Brotherhood of Teamsters as he tries to court the crucial union vote ahead of November. Biden is competing with former President Donald Trump for a Teamsters endorsement. Biden has already received one critical union endorsement: the United Auto Workers backed him during their Washington meeting in January. Biden has long presented himself as “the most pro-union president ever,” but an endorsement from union leadership doesn’t necessarily translate into support from rank-and-file members. Trump met with Teamsters leader Sean O’Brien at Mar-a-Lago late last year as well.

Persons: Joe Biden, Biden, Donald Trump, “, ” Trump, Hillary Clinton, Trump, Shawn Fain, “ Joe Biden, ” Fain, ”, Sean O’Brien Organizations: Washington CNN, International Brotherhood of Teamsters, Teamsters, ”, Social Security, Trump, Biden, United Auto Workers, UAW, State, Union, CNN, WGA, Anheuser, Busch, Republican National Committee, Democratic National Committee, FEC, Lago Locations: Michigan , Wisconsin, Pennsylvania, Washington, Michigan, Mar

☆ Stella Artois taps David Beckham to restore its shine
▼ + stars: | 2024-03-12 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Stella Artois, the nearly century-old brew, isn’t immune to the difficulties facing beer sales, so it’s drafting one of the world’s most recognizable personalities to help the lager return to its former glory: David Beckham. On Tuesday, the Anheuser-Busch InBev-owned brand introduced the former soccer superstar as the new face of its beer, naming Beckham as its “official ambassador” for Stella Artois. David Beckham is the new face of Stella Artois. Beckham joins fellow soccer superstar Lionel Messi in the A-B ambassador portfolio. “Beckham certainly gives Stella Artois the kind of top-tier recognition that A-B has historically leaned on to gain attention,” Sightline’s Roth said.

Persons: New York CNN — Stella Artois, David Beckham, Beckham, ”, Stella Artois, weren’t, Bump, it’s, ” Bryan Roth, Richard Oppy, Oppy, Victoria Beckham, David, ” Oppy, Matt Damon, Zoe Saldana, Lionel Messi, Bud Light, “ Beckham, ” Sightline’s Roth, “, ” Roth, Messi “ Organizations: New, New York CNN, Anheuser, Busch InBev, Bump Williams Consulting, Feel Goods Company, CNN, InBev, Maserati, Wimbledon, Roland, Garros, Inter Miami CF, Major League Soccer, Bowl, North America, Bud Light Locations: New York, Europe, America

☆ Bud Light boycott likely cost Anheuser-Busch InBev over $1 billion in lost sales
▼ + stars: | 2024-02-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The world’s largest brewer may have lost as much as $1.4 billion in sales because of the backlash to its brief partnership with a transgender influencer to promote Bud Light beer. Anheuser-Busch InBev (BUD) reported record revenues for 2023 Thursday but said its “full growth potential was constrained” by its US business, where sales were hurt by a boycott of Bud Light over a sponsored Instagram post with Dylan Mulvaney. In North America, organic revenue, seen as the best measure of operating performance, plunged $1.4 billion last year as beer sales by volume tumbled in the region, primarily due to a decline in Bud Light sales in the United States. Bud Light sales tanked after the company’s partnership with Mulvaney sparked an anti-trans backlash and calls for a boycott. The firestorm saw Mexican lager Modelo Especial dethrone Bud Light last May as America’s top-selling beer, a title the brand had held for more than two decades.

Persons: BUD, Bud Light, Dylan Mulvaney, Beer, Mulvaney, Bud, Aarin, Hargreaves, ” Organizations: London CNN, Bud, Anheuser, Busch InBev, Bud Light, Modelo, “, Teamsters, InBev, InBev’s, Budweiser Brewing Company Locations: North America, United States, InBev’s Asia, Hong Kong, South Korea, China

☆ AB InBev profits rise despite ongoing hit from Bud Light boycott in U.S.
▼ + stars: | 2024-02-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Hiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even U.S. sales of staple brand Bud Light were curbed by boycott action. The world's biggest brewer on Thursday recorded annual revenue of $59.38 billion, up 7.8%, but shy of analyst expectations of $60.48 billion, according to an LSEG-compiled consensus. Core profit (EBITDA) rose 7% annually to nearly $20 billion, also just under a forecast of $20.1 billion. The company became embroiled in a social media-driven boycott of its core Bud Light brand in the middle of last year. It also weathered wider beer industry struggles from higher input costs and a squeeze on consumer spending.

Persons: Light, Bud Light, Michel Doukeris Organizations: Budweiser, Anheuser, Busch InBev, InBev Locations: U.S

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