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☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, SoFi, ServiceNow, Meta, Netflix, Splunk and more
▼ + stars: | 2023-06-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +12 min

Piper Sandler initiates Domino's as overweight Piper said it sees an attractive risk/reward for Domino's shares. Piper Sandler reiterates Meta as outperform Piper Sandler raised its price target on the stock to $310 per share from $270 and said ad spend is "holding up." Citi downgrades Logitech to neutral from buy Citi downgraded the stock due to the unexpected departure of CEO Bracken Darrell. Citi reiterates Accenture as buy Citi said the Dublin-based IT company is an AI beneficiary. Piper Sandler initiates Bentley Systems as overweight Piper said the company is a "high quality industrial software franchise operating with scale."

Persons: Piper Sandler, Piper, Wolfe, it's bullish, Bernstein, Gordon Haskett downgrades, Gordon Haskett, Needham, ServiceNow, Bracken Darrell, Guy Gecht, Raymond James, Dave, Buster's, Riley downgrades Cinemark, Riley, Li, Morgan Stanley, Tesla, Splunk, TD Cowen, Wingstop, Cowen, it's, Estée Lauder, Berenberg, Roth, Morgan, Bud Light Organizations: Barclays, Netflix, FedEx, Apple, TAM, Citi, Logitech, Materials, SVB Securities, PayPal, Linde, LIN, Bank of America, Oculis, Dave, Cinemark Holdings, Inc, Accenture, IT Services, Li Auto Citi, China, Li, SSS, Bentley Systems, Photonics, Technologies, AMD Data Center, JPMorgan, DG, Anheuser, Busch InBev, Molson Coors, & $ Locations: 3Q22, 4Q22, 2H23, Latin America, Dublin, Bergamo

Bud Light trailed with a 7.3% share. Bud Light sales fell 24.6% in the period year over year, while Modelo sales jumped 10.2%, the data shows. Still, the Anheuser-Busch InBev brand Bud Light leads U.S. beer sales so far this year, according to Bump Williams. The company's shares have dropped nearly 15% since the start of April, when Mulvaney posted a video of a personalized Bud Light can, which sparked anti-LGBTQ+ outrage. The boycott against Bud Light comes as state and federal politicians increasingly push to claw back the rights of trans people.

Persons: Bud Light, influencer Dylan Mulvaney, Bump Williams, Mulvaney, Brendan Whitworth Organizations: Modelo, Constellation Brands, Anheuser, Busch InBev, Bud, Busch, Pride, Starbucks, Target Locations: Brooklyn Borough, New York, U.S

☆ Starbucks union claims dozens of stores aren't allowed to decorate for Pride
▼ + stars: | 2023-06-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Starbucks Workers United said Tuesday that dozens of the coffee chain's U.S. stores aren't allowing employees to decorate for Pride month. A Starbucks spokesperson told CNBC that the company's security and safety manual provides broad guidance for stores around decorations. Some Massachusetts workers were told that there weren't enough labor hours to schedule partners to decorate, the union said. And managers told employees in Maryland that some people didn't feel represented by the "umbrella of pride," according to the labor group. Oklahoma Starbucks workers were also prohibited from hanging Pride flags in store windows.

Persons: hasn't, Baristas Organizations: Starbucks, Highland, Parade, Starbucks Workers, CNBC, U.S, Republican, Anheuser, Busch InBev, Kohl's, Workers, Pride, Target, Washington Post Locations: Hollywood, Los Angeles , California, United States, Massachusetts, Maryland, Oklahoma

Overall U.S. beer sales grew 1.8% in the 12 weeks ended May 20, according to data from research firms NielsenIQ and TD Cowen. Sam Adams maker Boston Beer, the largest craft beer maker, saw its market share slip last year. Bud Light and Coors Light, popular premium light beers, average about $7.40 for a 12-ounce six-pack, while Boston Beer's Sam Adams costs between $10 to $12. "The American consumer likes light beer," Molson Coors CEO Gavin Hattersley said at a conference in early June. "I think dynamics within the subsegment might change, but the overall consumption of light beer is not going to change materially."

Persons: Beer, Neil Reid, TD Cowen, Vivien Azer, Sam Adams, Boston Beer, Bud Light, Jon Reynolds, Reid, influencer Dylan Mulvaney, Michel Doukeris, Gavin Hattersley, Ananya Mariam Rajesh, Anil D'Silva Organizations: Anheuser, Busch InBev, Molson Coors Beverage, University of Toledo, Refinitiv, Molson Coors, InBev, Boston Beer Co, Reuters Graphics, Boston, Constellation Brands, Modelo, Reuters, Brewery, Miller, University of Vermont . Giants, AB InBev, Thomson Locations: United States, NielsenIQ, Corona, American, Bengaluru

☆ Brands like Sony and Chipotle want to make Hollywood-style content for film and TV, and these advertising pioneers have built a startup to get their messages out
▼ + stars: | 2023-06-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

That belief has taken him from famed ad agency Wieden + Kennedy to talent agency CAA, where he set up its first marketing consultancy. The firm pitches itself as part management consultancy, part brand entertainment production company, and part consumer brand accelerator. "If a great sports movie happens to come from Nike, it's still great entertainment," Goodman said. "If a great sports movie happens to come from Nike, it's still great entertainment," Goodman said. One thing Goodman and Kaplan are not trying to do is compete with brands' ad agency budgets.

Persons: Jae Goodman, John Kaplan, It's, Gibson, Kennedy, Goodman, Chipotle, Stephanie Perdue, Jay, Kaplan, —, Michael Kassan's, Anheuser, it's, Superconnector, it'll Organizations: Superconnector Studios, Sony, CAA, Observatory, Entertainment, Hollywood, HBO Max, Netflix, Procter & Gamble, Imagine Entertainment, Delirio Studios, MTV Documentary, Paramount, HBO, Apple, Management, Sony Pictures Television, McKinsey, Accenture —, Anheuser Busch, InBev, Gibson, Nike, Talent Locations: LA

☆ Bud Light lost its sales crown to Modelo Especial amid right-wing backlash, report finds
▼ + stars: | 2023-06-10 | by ( Leslie J. Allen | ) www.businessinsider.com time to read: +2 min

Bud Light sales dropped 23% in May, according to data from research firm Circana. Bud Light sales plunged 23% year-over-year in May to $297.3 million, according to data compiled by consumer-behavior research firm Circana and shared with Insider. Anheuser-Busch suffered weeks of backlash from a Bud Light promotion featuring trans influencer Dylan Mulvaney. Analysts at JPMorgan recently warned that Bud Light sales could drop as much as 13% this year. Rounding out the top five in beer sales for May were Michelob Ultra, Coors Light, and Miller Lite, Circana reports.

Persons: Bud, —, Bud Light, influencer Dylan Mulvaney, Dylan Mulvaney, Gene J, Rob Kim, Bud Light's, Miller Organizations: Bud Light, Modelo, Service, Especial, Constellation Brands, Conservative, Anheuser, Busch, Associated Press, JPMorgan, Coors

☆ From right-wing backlash to Apple's TV play — these 3 big questions will dominate conversations at the Cannes Lions.
▼ + stars: | 2023-06-08 | by ( Lauren Johnson | Claire Atkinson | ) www.businessinsider.com time to read: +7 min

This year's Cannes Lions ad festival is taking place as advertisers are reeling from major shifts. The Cannes Lions organizers said that none of the three execs have been confirmed as speakers. Generative AI must boost creativity without stealing jobsThe rapid rise of generative AI took the advertising and media worlds by storm. Attendees will also have the opportunity to hobnob with the company that kicked off the generative AI storm last November. Simon Cook, Cannes Lions CEO, told Insider that top executives from ChatGPT developer OpenAI like chief operating officer Brad Lightcap will attend the festival.

Persons: Twitter's Elon Musk, Linda Yaccarino, Oliver Schusser, Michael Kassan, he's, execs, Bud Light, influencer Dylan Mulvaney, Bud, Busch, Fura, Leslie Klein, Sir Martin Sorrell, David Droga, Nick Law, Simon Cook, Brad Lightcap, Huge's, Elon Musk, Ben Hovaness, They've, Jon Williams, Akram Chetibi, Craig Atkinson Organizations: Cannes Lions, Apple, Twitter, Netflix, Hollywood, UTA, Target, Bud Light, Anheuser, Busch, Accenture, Cannes, Apple News, Carlton Hotel, Omnicom Media, Amazon Web Locations: Cannes

☆ Why Is Disney Fighting DeSantis? I Know the Answer. - The New York Times
▼ + stars: | 2023-06-07 | by ( Sean Griffin | ) www.nytimes.com time to read: +1 min

Even Chick-fil-A, the chicken-sandwich seller that has historically been aligned with conservative causes, drew sudden condemnation for an existing diversity, equity and inclusion policy. Companies are rarely exemplars of courage, and some — particularly Anheuser-Busch, Bud Light’s brewer — switched course almost immediately. But the noise is obscuring a bigger transformation amid the growing politicization of big business. Ron DeSantis of Florida last year attacked the Walt Disney Company for criticizing his anti-L.G.B.T.Q. Why would one of America’s largest corporate entities, particularly one lacking a long history of taking grand positions on social issues, go to the mat for L.G.B.T.Q.

Persons: Bud Light, Bud Light’s, —, Ron DeSantis, Disney, Donald Trump Organizations: America, Pride, Anheuser, Busch, Walt Disney Company, Republican Locations: Orlando, Fla, Florida

☆ Bernstein says Anheuser-Busch InBev selloff is overdone even as Bud Light sales volumes are expected to drop
▼ + stars: | 2023-06-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bernstein said Bud Light volumes have further to fall, but is still optimistic on AB InBev's stock going forward. Analyst Trevor Stirling noted that the massive selloff in the stock stemming from customer backlash over the company's social media partnership with a transgender influencer was largely "overdone." Still, he said Bud Light volumes could continue to take a hit after already falling by roughly 30% in the U.S. in the second quarter. "We also assume that Bud Light volumes will take a permanent -15% haircut with an associated drag on operating leverage," the analyst said. Last month, HSBC downgraded Anheuser-Busch InBev stock over what the firm labeled a " Bud Light crisis ," and noted that the company could be contending with larger problems than it wants to admit.

Persons: Bernstein, Bud, Trevor Stirling, BUD YTD, BUD, Bud APAC, Stirling, — CNBC's Michael Bloom Organizations: Anheuser, Busch, InBev, HSBC, Busch InBev Locations: Monday's, U.S

☆ Bud Light sales keep slipping. But it remains America’s top-selling beer
▼ + stars: | 2023-06-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

For the past several weeks, Bud Light sales declines have hovered around 25% weekly because of customer revolt following an Instagram partnership with transgender influencer Dylan Mulvaney. In response, Anheuser-Busch (BUD) said it was bolstering marketing on Bud Light and would offer rebates to customers. Bud Light has made up 35.1% of domestic beer sales this year (through May 27), according to NIQ. The biggest beneficiaries of Bud Light’s slipping sales continue to be MolsonCoors’ Miller Light and Coors Light, with sales up a whopping 26% and 23% respectively, according to NIQ. Sales of its Modelo Especial and its recently launched low-carb beer Modelo Oro are strong with sales up 9.5% and its share of the total beer category surpassing Bud Light last week, Williams said.

Persons: New York CNN —, Bud Light, Bump Williams, Bud, influencer Dylan Mulvaney, BUD, Williams, Bud Light’s, NIQ, ’ Miller Organizations: New, New York CNN, Memorial, Bud Light, Anheuser, Busch, CNN, Coors, Beer Business, Modelo, Constellation Brands, Modelo Especial, Cinco de Mayo Locations: New York, America, United States, Beer, Oro, Cinco

☆ This Bud’s for You: Time to Buy Anheuser-Busch InBev
▼ + stars: | 2023-06-05 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/this-buds-for-you-time-to-buy-anheuser-busch-inbev-3d406c9d

Persons: Dow Jones Organizations: anheuser, busch, inbev, 3d406c9d

☆ Conservative boycotts against Target and Bud Light are working thanks to a 'perfect storm' of social media and culture wars, experts say
▼ + stars: | 2023-06-03 | by ( Avery Hartmans | Natalie Musumeci | ) www.businessinsider.com time to read: +7 min

Experts say the boycotts work thanks to the culture wars and panic-stoking online and in the media. Bud Light was the target of social-media outcry in April after it partnered with the trans influencer and TikTok star Dylan Mulvaney. Bud Light owner Anheuser-Busch said that several of its facilities had received threats following the weeks of backlash against its brands. Like Bud Light, Nike also partnered with Mulvaney, but that outrage cycle seemed to blow over quickly. "Well, you know what, the next company is gonna say, 'We don't want to be Bud Light or Target.

Persons: —, Bud Light, Dylan Mulvaney, Disney, Ron DeSantis, Joe Raedle, Lawrence Glickman, Glickman, Bud, Busch, Brian Cornell, Scott Olson, Vanitha Swaminathan, Republican Sen, Ted Cruz, Cruz, Ari Drennen, Drennen Organizations: Service, Target, Florida Gov, American Studies, Cornell University, Consumer, Bud Light, Anheuser, Survey, Carey School of Business, Arizona State University, Cornell, Nike, Mulvaney, Katz, Branding, University of, Republican, Disney, Media Matters Locations: Target, America, Patagonia

☆ Boycotts hit stocks hard. Here's what might be next for Bud, Target and others caught in the anti-Pride backlash
▼ + stars: | 2023-06-03 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Stock Chart Icon Stock chart icon Anheuser-Busch InBev shares hit a 52-week high of $67.09 on March 31. Bud Light has tried to win back customers with a $15 off rebate program on Budweiser, Bud Light, Bud Select and Bud Select 55. Stock Chart Icon Stock chart icon Target's stock hit a 52-week low on Thursday. Stock Chart Icon Stock chart icon VF Corp. shares traded as low as $16.77 on Thursday. Stock Chart Icon Stock chart icon Kohl's shares on Thursday hit a low of $17.89, the stock's lowest level since May 22, 2020, when it traded as low as $17.19.

Persons: BUD TGT, Justin Sullivan, Bud Light, Dylan Mulvaney, Pattie Gonia ., it's, Brayden King, Cowen, Vivien Azer, Miller, Azer, Bud, Brandon Bell, King, Sarah Kate Ellis, recouping, Christopher Horvers, Horvers, Wells, Edward Kelly, Kelly, Americus Reed Organizations: TAP, Anheuser, Busch, Target, VF Corp, North, Pride, Busch InBev, Coors, Molson Coors, Lite, Bud, Budweiser, Walmart, Bud Light, Companies, GLAAD, JPMorgan, Americus, University of Pennsylvania Locations: San Francisco , California, Austin , Texas, Wells Fargo

☆ How Chick-fil-A became a target for going ‘woke’
▼ + stars: | 2023-06-02 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

It joins a growing list of companies that right-wing media and conservatives on social platforms have chastised for so-called “woke” marketing. But Chick-fil-A is an unusual target for the right wing because of the company’s conservative bona fides. The fact that Chick-fil-A has been trending online and the subject of conservative media news segments shows the power that a few people with large social media followings can have. Chick-fil-A says it is “committed to being better at together.”“Our founder, Truett Cathy, believed that ‘a great company is a caring company,’” Chick-fil-A notes on its DEI web page. In 2012, former Chick-fil-A President Dan Cathy spoke out against America’s legalization of same-sex marriage, which sparked boycotts from the left.

Persons: New York CNN —, Joey Mannarino, Charlie Kirk, Ian Miles Cheong, What’s, Erick McReynolds, Chick, who’s, “, ” “, Truett Cathy, ’ ”, McReynolds, Dan Cathy, It’s, Bud Light, Dylan Mulvaney, Bud Light’s, ”, Matt Walsh Organizations: New, New York CNN, DEI, Inc, Target, Anheuser, Beer Business, Twitter Locations: New York, statehouses

☆ For companies, the stakes are high this Pride
▼ + stars: | 2023-06-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

New York CNN —Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. Gavin Newsom called out Target’s CEO for “selling out the LGBTQ+ community to extremists.”The current landscape “is alarming,” Todd said. “That middle ground is going away.”So this year, companies that want to participate in Pride have to be prepared to take a real stance. Some of those lashing out have described a campaign against Pride itself, rather than Bud Light or Target (TGT) specifically. It won’t be worth whatever they think they’ll gain.”It’s no coincidence that the anti-trans assault comes as trans rights are under legal attack across the nation.

Persons: Bud Light, Bud Light’s Instagram, Bud, BUD, Eric Thayer, ”, Daniel Korschun, “, —, Jared Todd, Gavin Newsom, ” Todd, ” Korschun, Sen, J.D, Vance, J, Justin Sullivan, Anna Moneymaker, Matt Walsh, Sarah Kate Ellis, Ellis, Trevor, Seth Wenig, ” Ellis, Todd, It’s, didn’t, Colin Kaepernick, Drexel’s, Korschun, Jared Watson, ” Watson, Watson, Pattie Gonia, ’ ” Watson, ’ Organizations: New, New York CNN — Companies, Target, Bud Light, Anheuser, Busch, National LGBT Chamber of Commerce, Bloomberg, Getty, Drexel University, Wall Street, Foundation, Human Rights, HRC, California Gov, —, Pride, Twitter, HumanRights, UCLA School of Law, GLAAD, Morning, Nike, New York University, “ Locations: New York, Ohio, Target, California, America, New Jersey

☆ Most Americans say companies should publicly support LGBTQ+ community, new GLAAD survey finds
▼ + stars: | 2023-06-01 | by ( Brandon Gomez | ) www.cnbc.com time to read: +3 min

A clear majority of Americans who don't identify as LGBTQ+ believe companies should publicly support the community, according to a new survey from gay rights organization GLAAD. In April, Bud Light came under fire after partnering with transgender social media influencer Dylan Mulvaney. The campaign prompted violent videos of customers shooting cans of Bud Light and a right-wing boycott. In response, the marketing executive who oversaw the partnership at Bud Light parent company Anheuser-Busch Inbev took a leave of absence. Sales of Bud Light since then continue to suffer, according to data by Evercore ISI.

Persons: Critics, Bud Light, influencer Dylan Mulvaney, Bud, Anheuser Busch, Sarah Kate Ellis, Ellis Organizations: Target, Mega, Bud Light, Anheuser, Busch Inbev, Evercore ISI, Mulvaney, GLAAD, Pride, Edelman Trust, Twitter, America

☆ Target Pride backlash exposes 'rainbow capitalism' problem, designer says
▼ + stars: | 2023-05-31 | by ( Helen Reid | ) www.reuters.com time to read: +4 min

[1/2] Erik Carnell, transgender designer and artist whose products were pulled by U.S. retailer Target from its Pride Collection amid backlash from some of their customers, poses for a portrait in London, Britain, May 30, 2023. REUTERS/Dylan MartinezLONDON, May 31 (Reuters) - U.S. retailer Target's decision to remove some LGBTQ-themed merchandise after customer backlash in its stores highlights the problem with companies' "rainbow capitalism," said Erik Carnell, a transgender designer whose products were pulled from its stores. Target (TGT.N) has sold LGBTQ-related goods tied to Pride month for years. Target's collection for Pride Month, which is celebrated every year in June, includes more than 2,000 products, including Carnell's Abprallen brand. "We stand with you now and will continue to do so - not just during Pride Month, but each and every day," he said.

Persons: Erik Carnell, Dylan Martinez, Carnell, influencer Dylan Mulvaney, Brian Cornell, Etsy, Helen Reid, Siddharth Cavale, Kate Masters, Matt Scuffham, Deepa Babington Organizations: U.S, Target, REUTERS, Dylan Martinez LONDON, Kohl's, Pride Month, Anheuser, Reuters, Business, Pride, Thomson Locations: London, Britain, New York

☆ Constellation Brands vs. Molson Coors: Here's which beer maker is the clear winner to buy
▼ + stars: | 2023-05-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +12 min

In a battle of beer makers, Molson Coors (TAP) has had the advantage lately over rival Constellation Brands (STZ). Molson Coors has a diverse portfolio of popular beer brands including Coors Light and Miller Lite as well as other summer favorites Blue Moon and Leinenkugel's. Shares of TAP have gained about 17% in 2023, driven by strong beer growth and strategic partnerships. TAP STZ YTD mountain Molson Coors vs. Constellation Brands YTD performance At Club holding Constellation, its core beer brands are Corona, Modelo and Pacifico. While Molson Coors is catching much of the Bud Light exodus, Constellation's popular beer brands will also be a beneficiary.

Persons: Molson, Molson Coors, Miller, Bud Light's, influencer, Bud Light, BUD, Jim Cramer, Roth, Jim, Bud, Roth MKM, STZ, Gerald Pascarelli, Seltzer, Pascarelli, it's, Filippo Falorni, Falorni, Filippo, Wedbush's, Edward Lewis, hasn't, Robert Sands, Bill Newlands, Sands, Newlands, Jim Cramer's Organizations: Molson Coors, TAP, Constellation Brands, Modelo, Coors, Miller Lite, Anheuser, Busch Inbev, Club, Constellation, Corona, Nielsen, Constellation's Modelo Especial, Molson, CNBC, Coca, Citi, Falorni, STZ, Cinco de, Getty Locations: Corona, Pacifico, STZ, North, North America, Cinco de Mayo, San Diego

☆ Wine at Wegmans? Not in New York, if Liquor Stores Can Help It.
▼ + stars: | 2023-05-31 | by ( Luis Ferré-Sadurní | ) www.nytimes.com time to read: +2 min

The two main alcohol distributors in the state, Southern Glazer’s Wine & Spirits and Empire Merchants, have collectively spent at least $120,000 since the year began on lobbying state officials, disclosure records show. The families that own Southern Glazer’s, which is the largest liquor distributor in the United States and based in Florida, also contributed at least $25,000 to Ms. Hochul’s campaign last year. The commission failed to reach consensus on some of the most contentious issues, such as allowing grocery stores to sell wine. It is now up to lawmakers to decide whether to turn the proposed changes into legislation. law, introduced a bill that incorporated the commission’s recommendations.

Persons: Hochul’s, ”, Harry Bronson, “, James Skoufis Organizations: Empire Merchants, Rochester Democrat, Anheuser, Busch, State Senate, Hudson Valley Democrat Locations: Southern, United States, Florida, logjam, Albany, State, Hudson Valley

☆ Stocks making the biggest moves premarket: Advance Auto Parts, SoFi, Twilio and more
▼ + stars: | 2023-05-31 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A vehicle pulls out of a parking space outside an Advance Auto Parts Inc. store in Peoria, Illinois. The company earned an adjusted 52 cents per share, beating a Refinitiv forecast of 48 cents per share. Advance Auto Parts — The car parts retailer plummeted more than 25% after a wide earnings miss. The company reported an adjusted 72 cents per share against a Refinitiv consensus forecast of $2.57 per share. American Airlines – Shares of the air carrier rose about 2% premarket after the company raised expectations for the second quarter.

Persons: Bud Light, Ambarella, —, Samantha Subin, Fred Imbert, Tanaya Macheel Organizations: Inc, Anheuser, Busch, Hewlett Packard Enterprise, Partners, StreetAccount, FactSet, American Airlines – Locations: Peoria , Illinois

☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Chevron, Amazon, Avis, SeaWorld & more
▼ + stars: | 2023-05-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Needham initiates Sovos Brands as buy Citi said Sovos' Brands Rao's Tomato Sauce will be a $1 billion brand in the next three-to-four years. " Citi reiterates Anheuser-Busch InBev as buy Citi said investors should buy the dip in the beer giant. Deutsche Bank upgrades Avis to buy from hold Deutsche said the rental car company that it has upside potential. "In a tougher recession and sharp travel fall-off where revenue growth is cut in half, we estimate mid to high single digit EPS risk, implying an excellent risk/reward given valuation. Citi reiterates Nvidia as buy Citi said investors should "stay long" in shares of Nvidia.

Persons: Needham, Sovos, Michael Angelo's, Bernstein, Wedbush, it's, Goldman Sachs, Goldman, Bud, Baird, Mobileye, XYL, Wells, Key, AMBA, Mizuho, Piper Sandler, Piper Organizations: Brands, Citi, Amazon, Worldwide, Conference, SeaWorld, Anheuser, Busch InBev, Deutsche Bank, Avis, Deutsche, UBS, American Express, American, Palo Alto Networks, JPMorgan, Chevron, Service, Nvidia, TAM, Liberty, Microsoft Locations: US, Noosa, Cupertino, European, Wells Fargo, CrowdStrike, Zscaler, Palo, America, F2023E

☆ Target pulls some Pride collection items after threats to employees
▼ + stars: | 2023-05-24 | by ( Phil Helsel | ) www.cnbc.com time to read: +3 min

Mega retailer Target is pulling some of its merchandise that celebrates Pride month after threats to employees, the company said Tuesday. "Since introducing this year's collection, we've experienced threats impacting our team members' sense of safety and wellbeing while at work," a Target spokesperson said in a statement. Target did not say which items were being removed or immediately provide more details about the threats. The Target spokesperson did not answer whether those bathing suits were among the products in question. The retailer said that it has offered products to go along with Pride month for more than a decade.

Persons: Bud Light, Dylan, Mulvaney, Joe Biden Organizations: Target Corp, Mega, Target, Associated Press, Pride, Anheuser, Busch Locations: Chicago , Illinois, Chicago

☆ Target removing some Pride merchandise after anti-LGBTQ threats against staff
▼ + stars: | 2023-05-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Target on Wednesday said it was removing some products that celebrate Pride Month after the company and its employes became the focus of a “volatile” anti-LGBTQ campaign. Target said it removed from shelves “items that have been at the center of the most significant confrontational behavior.”For a decade, Target has celebrated Pride Month in and around June. “Pride Month at Target is a time of affirmation and solidarity with the LGBTQIA+ community,” the company says on its website. Some people have thrown Pride items on the floor, Target spokesperson Kayla Castaneda told Reuters. The products Target is withdrawing are being removed from all its US stores and from its website, Castaneda told Reuters.

Persons: Target, ” Target, Kayla Castaneda, Castaneda, Erik Carnell, “ I’m, transphobia, Eric Carnell, Bud Light, influencer Dylan Mulvaney, – Organizations: New, New York CNN, Target, Pride, Wall Street Journal, Reuters, Republican, ” Target, Anheuser, Busch, – Reuters Locations: New York

☆ Anheuser-Busch loses LGBTQ+ equality rating from Human Rights Campaign for handling of Bud Light backlash
▼ + stars: | 2023-05-22 | by ( Grace Mayer | ) www.businessinsider.com time to read: +5 min

The Human Rights Campaign removed Anheuser-Busch's equality score and "Best Places to Work Title." The group has since removed this designation in response to the company's handling of backlash from a Bud Light promotion that featured transgender influencer Dylan Mulvaney, USA Today reported. In April, Mulvaney posted a promotion on her Instagram that featured custom Bud Light beer cans with prints of her face. In a statement provided to Insider, Jay Brown, senior vice president of programs, research, and training at Human Rights Campaign, said the group decided to suspend Anheuser-Busch's equality score after several attempts to contact the company's executive team. Last year, the Human Rights Campaign gave Anheuser-Busch its highest equality rating: a 100 on its 2022 Corporate Equality Index score, a tool that weighs a company's corporate policies, practices, and benefits for its LGBTQ employees.

☆ Texas is facing a housing crisis, a migrant crisis, a multi-year drought, and an epidemic of mass shootings. Ted Cruz, meanwhile, has opened an investigation into Bud Light.
▼ + stars: | 2023-05-20 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

Texas Sen. Ted Cruz opened an investigation into Bud Light's partnership with trans influencer Dylan Mulvaney. Meanwhile, Texas is grappling with a migration crisis and a severe housing crisis. So, naturally, Texas Sen. Ted Cruz is opening an investigation into Bud Light. The company's partnership with Mulvaney led to right-wing calls for a boycott of Bud Light, which has impacted sales at its parent company, Anheuser-Busch. Beer marketing, however — thanks to Cruz — has all the attention of the state's top leaders in Washington.

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