Why Heineken, Anheuser-Busch InBev, and Boston Beer Slumped Today
Shares of international beer giants Heineken (OTC: HEINY), Anheuser-Busch InBev (NYSE: BUD), and Boston Beer (NYSE: SAM) were falling in Monday's trading, down 10.4%, 2.4%, and 3%, respectively, as of 12:38 p.m. ET.
These beer giants fell after Heineken reported its first-half numbers today, which marked a deceleration from the first quarter, souring the mood after Boston Beer positively surprised last week.
European companies tend to report half-year cumulative results at a time, rather than going quarter-by-quarter. So while Amsterdam-based Heineken posted first-half numbers today that may have looked good on the outside, they actually marked a big deceleration from its first-quarter results, which implied second-quarter growth that was much lower. The company also took a big impairment charge on a China investment.
Source Fool.com
