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☆ Bud Light tries for a comeback with a focus on sports and concerts
▼ + stars: | 2023-10-31 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

The company's revenue fell nearly 14% from July to September in the U.S., its largest market, as Bud Light sales sank. Bud Light sales started falling in April after a conservative boycott of the brewer's partnership with transgender influencer Dylan Mulvaney. Anheuser-Busch is now trying to turn around the brand's fortunes by marketing Bud Light through platforms it considers uncontroversial. Moving forward, the company plans to promote Bud Light at events like football games and concerts, he said. "This was the result of one campaign," he said of the Mulvaney partnership, which featured her face on a Bud Light can.

Persons: Light, Bud, influencer Dylan Mulvaney, Bud Light, Bump, Michel Doukeris, Folds, Doukeris, Wall Organizations: Anheuser, Busch InBev, U.S, Bud Light, Modelo Especial, U.S . Bud, Nielsen, Bump Williams Consulting, CNBC, Busch, NFL, Stagecoach, Revenue Locations: U.S, Mulvaney

☆ Stocks making the biggest moves premarket: JetBlue, Pinterest, Chewy, Caterpillar and more
▼ + stars: | 2023-10-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts surveyed by FactSet had been expecting. Chewy — The pet food seller added 4% in premarket trading after Morgan Stanley upgraded the stock to overweight from equal weight. Chegg's third-quarter earnings came in at 18 cents per share, excluding items, higher than the 17 cents per share expected by analysts polled by LSEG. BP — Shares of the oil company slid 4% after the company missed analysts' estimates for its third-quarter earnings . XPO — The freight transportation company added 1.7% after announcing stronger-than-expected third-quarter earnings.

Persons: FactSet, Pinterest, Chewy, Morgan Stanley, Lauren Schenk, Caterpillar, LSEG, Tesla, XPO, Jefferies, AutoNation, Rajat Gupta, Wells, Ferguson, MoffettNathanson, Alex Harring, Jesse Pound, Samantha Subin Organizations: Arista Networks, Arista, Revenue, Global, Anheuser, Busch, LSEG, Caterpillar — Investors, JetBlue, BP —, BP, JPMorgan, Bank of America Locations: U.S, Wells Fargo

☆ Beer giant AB InBev beats forecasts, but Bud Light boycott continues to hit U.S. revenues
▼ + stars: | 2023-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Anheuser-Busch InBev, the world's biggest brewing firm, on Tuesday beat expectations for the third quarter, despite an ongoing drag from controversy surrounding its online Bud Light campaign. Revenue rose 5% over the period to $15.57 billion, ahead of a company-compiled forecast of 4.7%. However, Bud Light — which lost its spot as the top-selling U.S. beer over the summer amid a conservative-led boycott, protesting its partnership with transgender influencer Dylan Mulvaney — weighed on U.S. performance, the company said. It marks the second quarter in which the Bud Light controversy, which includes criticism of the company for failing to support Mulvaney amid the backlash, has hit U.S. sales. Analysts at RBC Europe said the company's performance stood out within a "turbulent quarter" for earnings, noting beats on organic revenue growth and EDITDA growth expectations, despite a North America sales miss.

Persons: Bud, Bud Light, influencer Dylan Mulvaney — Organizations: Anheuser, Busch InBev, Revenue, RBC Europe, North, Brewers, Carlsberg, Heineken Locations: East, Africa, Asia, Europe, Brussels, U.S, North America, Southeast Asia

☆ The head of AB InBev's entertainment studio has exited in the latest marketing shakeup at the Anheuser-Busch parent
▼ + stars: | 2023-10-31 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

AB InBev's studio head is out, the latest marketing shakeup at the Anheuser-Busch parent company following the Bud Light fiasco . The company put seasoned AB InBev marketer Lauren Denowitz in charge as global studio head while enlisting help from Oscar-winning Michael Sugar's production company, Sugar23, and branded entertainment guru Jae Goodman . Bud Light faced months of conservative-led protests and falling sales over its partnership with transgender influencer Dylan Mulvaney. The Anheuser-Busch controversy started in April when the company sent Mulvaney a personalized Bud Light can for a March Madness contest. The fallout has dragged down US performance for two quarters in a row, even as AB InBev beat expectations in the most recent quarter.

Persons: Bud, Lauren Denowitz, Michael Sugar's, Jae Goodman, Bud Light, influencer Dylan Mulvaney, Denowitz didn't, Michel Doukeris Organizations: Anheuser, Busch, Hollywood, InBev, Brands, Bud Light, UFC

☆ Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more
▼ + stars: | 2023-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Pinterest — Shares of the image-sharing social media platform soared 19% Tuesday, a day after the firm's third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that had initially paused spending have already returned. Caterpillar said in its earnings presentation that revenue in the fourth quarter would be just "slightly" above the same quarter a year prior. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue, while analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts had forecast, according to FactSet.

Persons: Pinterest, Busch, Jet Blue, LSEG, Wolfspeed, Chegg, Morgan Stanley, Baird, SoFi, Roku, MoffettNathanson, — CNBC's Pia Singh, Yun Li, Hakyung Kim, Lisa Kailai Han, Brian Evans, Jesse Pound Organizations: Anheuser, Busch, LSEG, Revenue, Caterpillar, JetBlue —, Jet, JetBlue, Spirit Airlines, Arista Networks, Arista, VF Corp, Vans, U.S, BP, ON, Asbury Automotive, JPMorgan Locations: Israel, LSEG, U.S

☆ Bud Light sales keep sinking
▼ + stars: | 2023-10-31 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Bud Light continues to drag Anheuser-Busch InBev’s bottom line in the United States, but the world’s biggest brewer’s sales rose because of higher prices. The company reported a 13.5% decline in third-quarter US revenue per 100 liters, a key measure of beer sales, as an ongoing backlash to Bud Light continues. The brand’s customers turned their backs on Bud Light after the company partnered with a transgender influencer – and then muddled its response. Tuesday’s report painted a bleak picture for Bud Light, sales and shipments of which have weakened dramatically since its brief and limited partnership with trans influencer Dylan Mulvaney in the spring. Sales of Bud Light are still sinking, with volumes down 30% year-over-year for the four weeks ending on October 7, according to NIQ data given to Beer Business Daily newsletter.

Persons: Bud Light, –, Dylan Mulvaney Organizations: New, New York CNN, Anheuser, Busch, InBev, Modelo, UFC, Beer Business, BUD Locations: New York, United States, East, Africa, Asia, Pacific, Europe

☆ Dow closes up more than 510 points to kick off a busy week for the US economy
▼ + stars: | 2023-10-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

Apple shares rose 1.2% on Monday ahead of its quarterly results due after Thursday’s close, which will be closely watched after the carnage in tech stocks last week. Other Big Tech stocks also rallied Monday. Alphabet shares rose 1.9%, Meta Platforms added 2%, Microsoft gained 2.3% and Amazon increased 3.9%. McDonald’s shares also rose 1.7% on Monday after the fast-food chain beat top- and bottom-line expectations. Traders largely expect that the Fed won’t hike rates for the rest of the year, according to the CME FedWatch Tool.

Persons: New York CNN — Stocks, Dow, Jerome Powell, Thursday’s, Eli Lilly, stoking, ”, Tom Graff Organizations: New, New York CNN —, Federal, Nasdaq, Big Tech, Traders, Treasury Department, Treasury, Apple, Microsoft, Anheuser, Busch, Stellantis, CVS, Kraft Heinz, Pfizer, Starbucks, Investors Locations: New York

☆ How the Fed is using its multi-trillion-dollar balance sheet to fight inflation
▼ + stars: | 2023-10-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —The Fed’s fight against inflation is about to enter a new phase, but the central bank’s enormous balance sheet will continue to play a key role. The Fed also manages a multi-trillion-dollar balance sheet that accounts for trillions in government securities and lists how much currency is in circulation. For over a year now, the Fed has been steadily shrinking its balance sheet to help cool the economy. The Fed’s balance sheet is currently at around $7.9 trillion, down from its peak of $9 trillion in early 2022 right before the runoff. They also see alternative scenarios for the end of the balance sheet runoff if there isn’t a recession.

Persons: that’s, Lael Brainard, What’s, Wells, Jerome Powell, JPMorgan Chase’s Jamie Dimon, Jamie Dimon, Krystal Hur, Dimon —, Mr, Dimon, JPMorgan Chase, what’s, Estee Lauder, Kraft Heinz, Yum, Bausch, Eli Lilly, Molson Organizations: CNN Business, Bell, DC CNN, Congress, Fed, Wall Street, JPMorgan, JPMorgan Chase, CNN, HSBC, McDonald’s, China’s National Bureau of Statistics, Bank of Japan, Pfizer, Caterpillar, Marathon Petroleum, Sirius XM, Anheuser, Busch, BP, Chesapeake Energy, US Labor Department, Global, Board, CVS, GSK, Humana, Reuters, Apollo Global Management, Brands, Garmin, Cruise Line Holdings, Qualcomm, Airbnb, PayPal, MetLife, Aflac, AIG, Allstate, Prudential, P Global, Institute for Supply Management, Federal Reserve, ConocoPhillips, Starbucks, Duke Energy, Shopify, Ferrari, Marriott International, Moderna, Fox, Molson Coors, Hyatt, Apple, Motorola, Bank of England, Dominion Energy, Gartner, Restaurant Brands Locations: Washington, Treasuries, China’s, Mondelez, DoorDash, Avis, Shell, Cigna

☆ Explainer: Why is Siemens Energy seeking $16 billion state guarantees?
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +5 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. To make sure it can get the guarantees to fulfil its order backlog, Siemens Energy has turned to the government. Siemens owns a 25.1% stake in Siemens Energy and has not ruled out helping. Siemens still provides around 7 billion euros of performance guarantees to projects Siemens Energy is working on, significantly down from the 40 billion euros at the time of the spin-off around three years ago. Apart from seeking guarantees from the government, banks and Siemens, Siemens Energy said it is "evaluating various measures to strengthen the balance sheet", without elaborating further.

Persons: Chris Helgren, Banks, Roland Busch, hade, Andreas Rinke, Christoph Steitz, Victoria Farr, Andres Gonzalez, Pablo Mayo, Alexander Huebner, Tom Kaeckenhoff, Josephine Mason, Susan Fenton Organizations: Siemens Energy, REUTERS, Siemens, International Chamber of Commerce, German Economy Ministry, SIEMENS, Triton, Pablo Mayo Cerqueiro, Thomson Locations: Vancouver , British Columbia, Canada, downpayments, Berlin, Frankfurt, London, Munich

☆ Jobs and earnings are major themes next week as we consider more portfolio moves
▼ + stars: | 2023-10-28 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.

Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S

☆ Marlboro maker Altria reports declining revenue, citing competition from illicit e-vapor products
▼ + stars: | 2023-10-26 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

Altria Group, the parent company of Philip Morris USA and the nation's largest tobacco company, reported third-quarter results Thursday that fell short of Wall Street's expectations as demand for its core cigarette business cools and illicit e-vapor products flood the market. The Marlboro maker said its domestic cigarette shipment volume decreased 11.6%, primarily driven by wider declines across the industry and competition from illicit e-vapor products, among other factors. In a conference call with analysts, Altria CEO Billy Gifford said the lack of regulation of illicit e-vapor products has come at the expense of legal operators and approved. Although federal crackdowns have placed more restrictions on the flavors and marketing for tobacco products, illicit operators are skirting many tobacco-related laws and are flooding the market with disposable e-cigarettes that aren't FDA-approved and are illegal to sell. Like many other tobacco companies, Altria is moving beyond traditional, combustible cigarettes and towards smoke-free products.

Persons: Philip Morris, Altria, Billy Gifford, Gifford Organizations: Marlboro, Altria, Philip Morris USA, LSEG, Anheuser, Busch InBev, FDA, NJOY's, U.S Locations: San Francisco , California, Marlboro, JUUL, Juul

☆ Bud Light Gets a Win, Reclaiming UFC From Modelo
▼ + stars: | 2023-10-25 | by ( Katie Deighton | ) www.wsj.com time to read: 1 min

Modelo Especial is now America’s top-selling beer, dethroning the longstanding king, Bud Light, which recently has been subject to a culture-war storm. Here’s how an antitrust lawsuit and savvy marketing helped the Mexican brand grow in the U.S. Photo: Mario Tama/Getty ImagesNot everyone is switching from Bud Light to Modelo. UFC is doing just the opposite. The mixed martial arts league on Tuesday named Anheuser-Busch’s Bud Light as its official beer in the U.S., parting ways with Modelo in a deal contrary to recent American drinking trends.

Persons: Bud Light, Mario Tama, Bud Organizations: Modelo Especial, Modelo, UFC, Tuesday, Anheuser Locations: Mexican, U.S

☆ Bud Light Replaces Rival Modelo in UFC Sponsorship Deal
▼ + stars: | 2023-10-25 | by ( Katie Deighton | ) www.wsj.com time to read: 1 min

Persons: Bud Light, Mario Tama, Bud Organizations: Modelo Especial, Modelo, UFC, Tuesday, Anheuser Locations: Mexican, U.S

☆ Bud Light becomes UFC official beer in Anheuser-Busch mega deal
▼ + stars: | 2023-10-25 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Bud Light might be experiencing a knockout of its own, but this time it’s on purpose. The multiyear sponsorship, which begins on January 1, 2024, makes Bud Light the “official beer partner” of the UFC, with the beer branding having a “highly visible presence” during fights and weigh-ins. The new agreement is a reunion for Bud Light and the UFC, after a previous sponsorship ended in 2017. Bud Light replaces Modelo as UFC’s beer sponsor, the Mexican lager that has dethroned Bud Light from its title of America’s top-selling beer. Sales of Bud Light are still sinking, with volumes down 30% year-over-year for the four weeks ending on October 7, according to NIQ data given to Beer Business Daily newsletter.

Persons: Bud, ”, Bud Light’s, weren’t, Crypto.com, Bud Light, “, Dana White, Travis Kelce Organizations: New, New York CNN, Anheuser, Busch, UFC, Bloomberg, CNN, ” UFC, Coors, Bud Light, NFL, Beer Business, Endeavor, World Wrestling Entertainment Locations: New York

NEW YORK (AP) — Bud Light is set to return as the official beer of the UFC in the U.S. next year as the brand tries to recover from a conservative backlash to a promotion with a transgender influencer. Under a new multiyear marketing deal between the promoter of mixed martial arts fights and Bud Light maker Anheuser-Busch, the brewer will become the UFC's “Official Beer Partner” in the U.S. starting Jan. 1, the two companies announced. Bud Light has also faced backlash from Mulvaney’s supporters and LGBTQ+ rights groups, who say the company didn’t do enough to support her. In June, Bud Light lost its place as America’s best-selling beer after more than two decades, slipping into second place behind Mexican lager Modelo Especial. As Bud Light sales plunged, Anheuser-Busch InBev reported a 10.5% fall in U.S. revenue for this year's second quarter.

Persons: Bud Light, Dana White, influencer Dylan Mulvaney, Bud, Stella Artois, Corona Organizations: UFC, Anheuser, Busch, InBev, Bloomberg, Crypto.com, Modelo Especial, Constellation Brands, Busch InBev, Bud Light Locations: U.S

☆ Anheuser-Busch and UFC strike multiyear partnership, as brewer tries to turn around Bud Light sales
▼ + stars: | 2023-10-24 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Anheuser-Busch InBev's Bud Light will again become the official beer sponsor for the Ultimate Fighting Championship with a six-year marketing partnership, the companies announced Tuesday. As part of the agreement, Bud Light will receive exclusive and prominent branding at UFC fights and events, as well as in-arena promotion. The agreement comes on the heels of a conservative boycott against Anheuser-Busch's Bud Light that began this spring when the brand partnered with transgender influencer Dylan Mulvaney. The partnership grants Bud Light visibility in an estimated 900 million TV households in more than 170 countries. "Anheuser-Busch and Bud Light were UFC's original beer sponsors more than fifteen years ago.

Persons: Busch, Bud Light, Bud, influencer Dylan Mulvaney, Dana White, Donald Trump's, Brendan Whitworth, White Organizations: Anheuser, CNBC, UFC, Modelo Especial, U.S, Busch, Modelo, Constellation Brands, Holdings Inc, Bud Locations: Las Vegas

☆ Jamie Foxx plays attorney Willie Gary in new movie "The Burial." Ex-clients say the real lawyer is a creep who screwed them out of millions.
▼ + stars: | 2023-10-14 | by ( Jack Newsham | ) www.businessinsider.com time to read: +16 min

"The Burial" stars Jamie Foxx as real-life lawyer Willie Gary, who won a $500 million case in 1995. Elliott isn't the only ex-client of Willie Gary and his firm, Gary Williams Parenti Watson & Gary, to be angry about how she was treated. Lawyer Willie Gary poses for a selfie with a guest at a screening of "The Burial." Attorney Willie Gary and his client Don King speaking to the press in 2005. She has so far managed to seize $102,000 from an account the Gary firm had with Truist.

Persons: Jamie Foxx, Willie Gary, Gary —, —, Gary, Ernestine Elliott, Ford —, Elliott, Elliott isn't, Gary Williams Parenti Watson, Tommy Lee Jones, Luisa Esposito, Grant Halverson, Willie Gary's, Willie, couldn't, Jeremiah O'Keefe, O'Keefe, Loewen couldn't, Loewen, Gary Parenti, Don King, Jim McIsaac, Ford, schemed, he'd, Gary's cocounsels, Lawrence Fox, Fox, Bruce Green, Green, Gary didn't, Sharron Mangum, Mr, Mangum, Marietta Goodman, Coke, Jillian Nedd, Nedd, Ardria Clark, Tamesha Marshall, Pharr, Clark, Marshall, Ray Rogers, He's, leafleted, Rogers, Willie Lewis, Troy Fulks Jr, Fulks, Lewis, Esposito, she'd, didn't, Justice II, hasn't, Gary's, Debra Sweeting, it's, Sweeting, we're, Variety Organizations: Service, Disney, Nissan, Hollywood, reneging, Gary Parenti Facebook, Anheuser, Busch, Yorker, Group, New Yorker, Fordham, Cola, Coke, FBI, Gary, Florida Bar Association, Palm Beach Post, Florida Power, dimes, Finance Group, Wings, Justice, Boeing, Gary Foundation Locations: Georgia, Florida, Mississippi, New York City, New York, Palm Beach, Flint , Michigan, disbursements

Vasser Sullivan started the IMSA sports car season strong enough that it was quickly apparent a championship was finally in reach for the Lexus factory program. Team owners Jimmy Vasser and James “Sulli” Sullivan think it might have saved the season. However, Jimmy and I are really glad that it did happen because it was a wakeup call, to the two of us and to the team,” Sullivan said. Vasser Sullivan ran Busch in the Rolex 24 at Daytona in 2020. And, if the opportunity presented itself, Vasser Sullivan would like to compete in IMSA's top class.

Persons: Vasser Sullivan, Ben Barnicoat, Jimmy Vasser, James “ Sulli ” Sullivan, “, Ben, Jimmy, ” Sullivan, Jack Hawksworth, It's, Chip Ganassi, Sullivan, —, they'd, Tony Kanaan, ”, Jeff Bal, Hawksworth, ” Hawksworth, Sulli, Vasser, Kyle Busch, we've Organizations: IMSA, Lexus, Watkins Glen, Team, IndyCar, Daytona, Chip Ganassi Racing, RC, GTD PRO, Lexus Motorsports, Ganassi —, Toyota, Indianapolis, NASCAR, Busch Locations: Canada, Atlanta, GTD, Charlotte

☆ Mexican liquors and beers are on the rise in the U.S. — here’s what’s driving the torrid growth
▼ + stars: | 2023-10-08 | by ( Stefan Sykes | ) www.cnbc.com time to read: +7 min

"Tequila has been such a national treasure here in Mexico," said Guilherme Espagnoli Martins, global brand director of Diageo-owned Don Julio Tequila. The Mexican beer boomIt's not just tequila and mezcal — Mexican beer is booming, too. Mexican beer imports into the U.S. are up 10.6% in 2023, according to alcohol research firm Bump Williams Consulting. watch nowA spokesperson for Constellation told CNBC that Mexican beer sales grew as Hispanic culture gained a stronger foothold around the world. Constellation on Thursday reported quarterly results that topped Wall Street estimates, driven by the surge in demand for its Mexican beer brands.

Persons: Mario Tama, Lea, Tequila, Guilherme Espagnoli Martins, Don Julio Tequila, Don Julio, George Clooney, Martins, Don, Don Julio Tequila Blanco, Bump, Bud Light, Cowen, Vivien Azer, InBev's Bud, Constellation's, Azer, Jonnie Cahill, Tecate, Cahill, Heineken's, It's, Dos Equis, Eduardo, Lalo, González, LALO Blanco Tequila, Don Julio González Organizations: Modelo Especial, Getty, U.S, Experts, Diageo, CNBC, Bump Williams Consulting, Mexico's Modelo Especial, Constellation, Modelo, Constellation Brands, Anheuser, Busch InBev, InBev's, Heineken USA, Cinco de Mayo, Dos, Corona Locations: Los Angeles , California, U.S, Mexico, The U.S, United States, British, Mexican, Modelo, Dos

☆ Corona beer maker Constellation Brands bets on higher pricing to lift profit view
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

Bottles of the beer, Corona, a brand of Constellation Brands Inc., sit on a supermarket shelf in Los Angeles, California April 1, 2015. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsOct 5 (Reuters) - Constellation Brands (STZ.N) raised its annual profit target on Thursday after higher prices and strong demand for its beers and spirits drove a sales and profit beat in the second quarter. Alcohol producers such as Constellation and peer Brown-Forman (BFb.N) have benefited from increasing prices, helping offset steeper raw material costs. Constellation also raised the annual sales forecast for its beer business. Constellation now expects fiscal 2024 comparable earnings per share between $12.00 and $12.20, as against its previous forecast of profit between $11.70 and $12.00 per share.

Persons: Lucy Nicholson, Brown, Forman, Kim Crawford, Busch, Bud Light, Bump Williams, Garrett Nelson, Juveria Tabassum, Pooja Desai Organizations: Constellation Brands Inc, REUTERS, Constellation Brands, Constellation, Modelo Especial, Corona, Modelo, Anheuser, LSEG, Thomson Locations: Corona, Los Angeles , California, U.S, Rochester , New York

CHARLOTTE, N.C. (AP) — NASCAR added Atlanta Motor Speedway and the road course at Watkins Glen International in upstate New York to the playoffs as part of the 2024 Cup Series schedule released Wednesday. Many of the celebrated changes to the schedule had already been announced: Bristol Motor Speedway is removing the dirt for its spring race, Indianapolis Motor Speedway is returning NASCAR to his historic oval and Iowa Speedway will finally host a Cup race. Political Cartoons View All 1199 ImagesTexas Motor Speedway lost the playoff race it has hosted since 2004 and its lone Cup race will be in the spring. One surprise is the return of the hybrid oval/road course at Charlotte Motor Speedway, which hosts this Sunday's playoff elimination race in the round of 12. NASCAR, like IndyCar, will have a two-week break during the Paris Olympics to accommodate broadcast partner NBC Sports.

Persons: CHARLOTTE, Darlington's, FS1 Sinday, Charlotte, Watkins, Charlotte Roval Organizations: NASCAR, Atlanta Motor Speedway, Watkins Glen International, Bristol Motor, Indianapolis Motor, Iowa Speedway, Busch, Coliseum, Phoenix Raceway, Atlanta, Watkins, Texas, Speedway, Kansas Speedway, Richmond, Charlotte Motor Speedway, Drivers, Charlotte, IndyCar, Paris, NBC Sports, Fox, Fox Sunday, Las, Darlington, FS1, NBC, Watkins Glen, Vegas, Martinsville, AP Locations: N.C, New York, Los Angeles, Daytona, Darlington , South Carolina, Bristol, Tennessee, Atlanta, Las Vegas, Phoenix, Americas, Richmond, Martinsville, Texas, Dover, FS1, Kansas, Wilkesboro, Sonoma, Iowa, USA, New Hampshire, Nashville, Chicago, Pocono, Indianapolis, Michigan, Miami

☆ Siemens is case study in China de-risking dilemma
▼ + stars: | 2023-10-04 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +9 min

That’s unsettling for the likes of Siemens, $62 billion carmaker Volkswagen (VOWG_p.DE) and $39 billion chemicals group BASF (BASFn.DE). Factor in the German group’s 32% stake in Siemens Energy (ENR1n.DE) and 75% holding in Siemens Healthineers (SHLG.DE), currently worth 46 billion euros, and it adds up to 156 billion euros. The unit and Siemens’ Airport Logistics unit, which press reports say could be another divestment candidate, may only be worth 4 billion euros combined. Moreover, Kaeser already tried to boost Siemens’ valuation by partially spinning off subsidiaries. As of September, Siemens had bought back 2.5 billion euros of shares since starting a 3 billion euro share repurchase programme in November 2021.

Persons: Roland Busch, France’s Legrand, Busch, Joe Kaeser, he’s, Kaeser, Germany’s Bundesbank, Siemens, Goldman Sachs, Judith Wiese, George Hay, Oliver Taslic Organizations: Reuters, Siemens, Germany’s, Barclays, Reuters Graphics Reuters, Volkswagen, BASF, Software, Dassault, Automation, ABB, Smart Infrastructure, Siemens Energy, Siemens ’ Mobility, France’s Alstom, CRRC Corporation, Siemens ’ Airport Logistics, Siemens Healthineers, Toshiba Corp, Energy, BNP, Bloomberg, Financial Times, Thomson Locations: China, Brussels, Beijing, Germany, EMEA, Swiss, Middle Kingdom, Republic, Shenzhen, Sichuan, Chengdu, Southeast Asia, Indonesia, Vietnam, Thailand

☆ 'We are running out of time,' Siemens CEO says on energy transition
▼ + stars: | 2023-10-02 | 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 Email'We are running out of time,' Siemens CEO says on energy transitionRoland Busch, Siemens CEO, says we are running out of time," on the energy transition. "We have to really take action now," he says.

Persons: Roland Busch Organizations: Siemens

The cannabis company Tilray expanded its position in the craft brew industry, completing the acquisition of eight beer brands from Anheuser-Busch that it had announced over the summer. Included in the deal are well known labels like Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. The New York City company also owns SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, and Green Flash Brewing Company. Tilray said that the transaction, which was announced in August, will triple its beer sales volume from four million cases to 12 million. A deluge of criticism and hate erupted soon after Mulvaney cracked open a Bud Light in an Instagram video.

Persons: Tilray, Tilray Brands, Irwin Simon, Busch, Bud Light, influencer Dylan Mulvaney, Mulvaney, Bud Light’s, Bump Williams Organizations: Anheuser, Busch, Breckenridge Brewery, Point Brewing Company, Brewing Company, Redhook, Widmer Brothers Brewing, Cider Company, HiBall Energy, Tilray, New, SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Modelo, Nielsen, Bump Williams Consulting Locations: New York City

TALLADEGA, Ala. (AP) — Ross Chastain, the runner-up in NASCAR's championship last season, crashed out of Sunday's playoff race at Talladega Superspeedway in a collision with fellow title contenders Kyle Busch and Christopher Bell. Chastain was in a pack of cars racing to the flag that marked the end of the first stage. Busch hit the wall trying to avoid running into the back of Stenhouse, just as Chastain tried to slide through the middle to advance his position. That caused the Chevrolet from Trackhouse Racing to hit the wall and take a second hit from Bell. Chastain, who won at Talladega last year, has struggled in his four previous starts on Charlotte's hybrid road course/oval track.

Persons: — Ross Chastain, Kyle Busch, Christopher Bell, Chastain, Ricky Stenhouse, Busch, Stenhouse, ” Chastain, ”, “, we'll, Joey Logano, William Byron Organizations: Talladega, Chevrolet, Busch, Trackhouse, Bell, Charlotte Motor, “, Martinsville Speedway, Texas, 300th, Hendrick Motorsports, NASCAR, Charlotte Motor Speedway Locations: Ala, Talladega

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