Anheuser-Busch InBev Stock (NYSE:BUD), Trade Ideas

Anheuser-Busch InBev

Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and US-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev and in 2016 it acquired SABMiller.

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Despite a decline in the wine and spirits business, Constellation Brands (NYSE: STZ) outperformed its expectations with beer sales with its latest quarterly report.

Constellation Brands&#39; Continued Beer Strength Offsets Its Wine And Spirits Weakness

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Long Ideas

Initiation

Analyst Ratings

Trading Ideas

With consumer spending taking a hit on elevated interest rates, more economical alcohol brands, especially beer stocks, have been in focus.

Analyst Michael Lavery of Piper Sandler initiated coverage of these three beer brands, highlighting their prospects.

3 Beer Stocks: What This Analyst Thinks Is Brewing

Boycott,Red,Rubber,Stamp,Over,A,White,Background.

PLNT

Two companies find themselves the subject of calls for boycotts across social media due to outraged customers.

Tyson Foods, Planet Fitness Boycott: Why The 2 Companies Are Trending On Social Media

Anheuser-Busch Inbev SA Sponsored ADR (Belgium)

Anheuser-Busch InBev SA/NV

ANHEUSER BUSCH INBEV ORD by Anheuser Busch Inbev SA NV

Weed Inc

Buddy Technologies Ltd

Budimex SA

BUDWEISER BREWING CO by BUDWEISER BREWING CO APAC LTD.

Budweiser Brewing Co APAC Ltd

BUDWEISER BRWNG UNSP/ADR by BUDWEISER BREWING CO APAC LTD.

Despite&nbsp;a decline in the&nbsp;wine and spirits business,&nbsp;Constellation Brands (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>) outperformed its expectations with&nbsp;beer sales&nbsp;with its latest quarterly report. Constellation Brands, whose operations span across&nbsp;the U.S., Mexico, New Zealand, and Italy,&nbsp;delivered a stronger than expected fourth quarter profit, with management indicating that the segment greatly contributed to its success over the fiscal year.&nbsp;
<h3>Fourth Quarter Highlights</h3>
For the quarter that ended in February, Constellation Brands posted&nbsp;revenue of $2.3 billion, surpassing Wall Street estimates of&nbsp;$2.1 billion. It reported&nbsp;earnings per share&nbsp;of&nbsp;$2.26, also surpassing analyst estimates of about&nbsp;$2.10.
The&nbsp;beer business continued its strong growth momentum&nbsp;with&nbsp;its 56th consecutive quarter of volume growth.&nbsp;CEO Bill Newlands&nbsp;also added the company&nbsp;achieved a significant milestone this year, as Modelo Especial became the number one beer in U.S. dollar sales.&nbsp;Beer sales through retailers&nbsp;alone expanded&nbsp;8.9%,&nbsp;compared with 6%&nbsp;achieved during last year&rsquo;s comparable quarter.&nbsp;
On the other hand,&nbsp;challenging marketplace dynamics&nbsp;continued to&nbsp;pressure sales volumes&nbsp;of its&nbsp;wine and spirits category&nbsp;with sales&nbsp;falling&nbsp;flat.
<h3>Full Year Results</h3>
Net sales&nbsp;rose 5% YoY to&nbsp;$9.962 million&nbsp;while&nbsp;net income rose 12% due to&nbsp;price rises and operating efficiencies.
A lifted adjusted fiscal 2025 outlook
Fueled by the strength of its beer business, Anheuser Busch InBev SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) rival lifted its&nbsp;full-year earnings&nbsp;and sales forecasts. Constellation Brands guided for earnings in the range between&nbsp;$13.50&nbsp;and&nbsp;$13.80 eper shareand&nbsp;sales&nbsp;growth&nbsp;between 6% and 7%.&nbsp;Constellation expects its&nbsp;beer sales&nbsp;to rise by&nbsp;a further 10% in the&nbsp;undergoing&nbsp;financial year&nbsp;both due to its&nbsp;brand strength&nbsp;as well as the&nbsp;US consumer&rsquo;s shift away&nbsp;from wines and spirits&nbsp;in favor of&nbsp;beer.
The anual results of&nbsp;Anheuser Busch reflected a new beer trend of&nbsp;health-conscious consumers.
Interestingly,&nbsp;Anheuser Busch reported its beer sales dropped in North America last year while its non-alcoholic beer sales topped estimates, reflecting the consumer behaviour of&nbsp;more health-conscious consumers. Anheuser Busch responded to the trend with the expansion of beverage choices. With its no-alcohol beer portfolio that includes Budweiser Zero, Stella Artois 0.0 and others, Anheuser Busch reported revenue growth in the high teens, according the annual report. Global Market Insights estimated that between 2023 and 2032,&nbsp;the nonalcoholic wine and beer market&nbsp;will&nbsp;continue&nbsp;growing&nbsp;at an annual rate of&nbsp;7%&nbsp;and&nbsp;surpass $30 billion by 2025. With&nbsp;Sam Glaetze&nbsp;and his experience that spans over three decades becoming the new leader of the segment,Newlands&nbsp;is confident that the wine and spirits division will improve. On the back of the continued resilience of its&nbsp;core beer brands,&nbsp;Constellation confidently&nbsp;lifted its full year guidance.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Constellation Brands' Continued Beer Strength Offsets Its Wine And Spirits Weakness

Benzinga's options scanner just detected over 8 options trades for Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) summing a total amount of $261,350.
At the same time, our algo caught 4 for a total amount of 170,040.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $58.0 to $70.0 for Anheuser-Busch InBev over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Anheuser-Busch InBev's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Anheuser-Busch InBev's whale trades within a strike price range from $58.0 to $70.0 in the last 30 days. 
<h3>Anheuser-Busch InBev Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712247366_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BUD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$9.0</td>
<td>$8.8</td>
<td>$8.8</td>
<td>$67.50</td>
<td>$60.7K</td>
<td>133</td>
<td style="text-align: right;">70</td>
</tr>
<tr>
<td>BUD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$6.4</td>
<td>$6.3</td>
<td>$6.3</td>
<td>$65.00</td>
<td>$44.7K</td>
<td>463</td>
<td style="text-align: right;">74</td>
</tr>
<tr>
<td>BUD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$3.2</td>
<td>$3.1</td>
<td>$3.1</td>
<td>$60.00</td>
<td>$38.1K</td>
<td>1.0K</td>
<td style="text-align: right;">266</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.95</td>
<td>$1.75</td>
<td>$1.8</td>
<td>$70.00</td>
<td>$36.0K</td>
<td>5.4K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.8</td>
<td>$1.5</td>
<td>$1.75</td>
<td>$70.00</td>
<td>$35.0K</td>
<td>5.4K</td>
<td style="text-align: right;">400</td>
</tr>
</tbody>
</table>

<h3>About Anheuser-Busch InBev</h3>
Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and US-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev and in 2016 it acquired SABMiller.
<h3>Present Market Standing of Anheuser-Busch InBev</h3>
<ul>
<li>With a volume of 859,124, the price of BUD is up 0.02% at $60.25. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 28 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Anheuser-Busch InBev options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Anheuser-Busch InBev Unusual Options Activity

With consumer spending taking a hit on elevated interest rates, more economical alcohol brands, especially <a href="https://www.benzinga.com/money/beer-stocks">beer stocks, have been in focus</a>.
Analyst Michael Lavery of Piper Sandler&nbsp;initiated&nbsp;coverage of these three beer brands, highlighting their prospects.
The Ratings:
<ul>
<li>Molson Coors Beverage Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tap#NYSE">TAP</a>): Neutral, with a price target of $69.</li>
<li>Boston Beer Company Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sam#NYSE">SAM</a>): Overweight, with a price target of $350.</li>
<li>Constellation Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>): Overweight, with a price target of $300.</li>
</ul>
Check out other <a href="https://www.benzinga.com/analyst-stock-ratings">analyst stock ratings.</a>
The Molson Coors Beverage Thesis: The company gained market share in 2023 at the expense of Anheuser-Busch Inbev SA&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) Bud Light&nbsp;and &ldquo;we expect an outsized share lift for it through April 2024,&rdquo; Lavery said in the initiation note.
&ldquo;We expect TAP to benefit from mix lifts from premiumization of its portfolio, but upside beyond beer looks smaller,&rdquo; the analyst wrote. &ldquo;Margin expansion looks achievable to us, but its ongoing strike adds near-term disruption costs and some uncertainty,&rdquo; he added.
The Boston Beer Company Thesis: Twisted Tea and Hard Dew are expected to drive top-line growth, while Hard Mtn Dew could lend &ldquo;significant upside vs. our estimates (and consensus), based on its initial traction in limited distribution,&rdquo; Lavery said.
&ldquo;Smaller launches like Truly Unruly and Sun Cruiser can add to growth, too,&rdquo; the analyst stated. He expressed optimism around continued gross margin expansion driving robust earnings growth.
The Constellation Brands Thesis: The company is poised to benefit from &ldquo;long-term, sustainable U.S. market share tailwinds, as Mexican imports, and its strong brands in particular, have been gaining share for many years,&rdquo; Lavery wrote in the note.
Constellation Brands invested around $550 million in R&amp;D over the last five years and its &ldquo;innovation tailwinds&rdquo; could continue, the analyst said.
&ldquo;STZ is targeting 33-35% enterprise operating margins (F23: ~32%) for F25-F28, and we consider this achievable, with likely upside potential, though commodity input cost variations and other factors are medium-term unknowns,&rdquo; he added.
TAM, SAM, STZ Price Action:&nbsp;Molson Coors Beverage shares were up 0.21% at $67.23,&nbsp;Boston Beer Company shares were up 1.32% at $298.47&nbsp;and Constellation Brands were down 0.60% to $267.73&nbsp;at the time of publication on Friday.
Photo: Shutterstock

Altria Enters $2.4B Accelerated Share Repurchase Transactions In Connection With Closing Of Offering Of Anheuser-Busch InBev Stock

Financial giants have made a conspicuous bearish move on Anheuser-Busch InBev. Our analysis of options history for Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) revealed 9 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $118,250, and 6 were calls, valued at $278,103.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $70.0 for Anheuser-Busch InBev over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Anheuser-Busch InBev's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Anheuser-Busch InBev's significant trades, within a strike price range of $55.0 to $70.0, over the past month.
<h3>Anheuser-Busch InBev 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710864049_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$57.50</td>
<td>$70.7K</td>
<td>880</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$55.00</td>
<td>$58.4K</td>
<td>499</td>
<td style="text-align: right;">87</td>
</tr>
<tr>
<td>BUD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$62.50</td>
<td>$53.3K</td>
<td>603</td>
<td style="text-align: right;">13</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$61.00</td>
<td>$44.9K</td>
<td>7</td>
<td style="text-align: right;">600</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$70.00</td>
<td>$37.0K</td>
<td>4.5K</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>

<h3>About Anheuser-Busch InBev</h3>
Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and U.S.-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev and in 2016 it acquired SABMiller.
<h3>Anheuser-Busch InBev's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 1,230,995, the BUD's price is down by -0.63%, now at $59.68. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 44 days.</li>
</ul>
<h3>What The Experts Say On Anheuser-Busch InBev</h3>
In the last month, 1 experts released ratings on this stock with an average target price of $65.0.
<ul>
<li>Maintaining their stance, an analyst from TD Cowen continues to hold a Outperform rating for Anheuser-Busch InBev, targeting a price of $65. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Anheuser-Busch InBev options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Behind the Scenes of Anheuser-Busch InBev's Latest Options Trends

Tyson Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) and Planet Fitness (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) are both facing calls for boycotts due to viral news stories. Could these companies be facing backlash <a href="https://www.benzinga.com/topic/bud-light">similar to Bud Light?</a>
Tyson Foods Boycott: A Tyson Foods report claiming the Springdale, Arkansas-based company was <a href="https://www.benzinga.com/markets/equities/24/03/37610474/job-losses-loom-as-tyson-shuts-down-pork-facility-in-iowa-report">closing its Iowa pork facility</a> and choosing to hire migrant workers recently went viral. 
It has since been retracted.
"In recent days, there has been a lot of misinformation in the media about our company, and we feel compelled to set the record straight. Tyson Foods is strongly opposed to illegal immigration, and we led the way in participating in two major government programs to help employers combat unlawful employment, E-Verify and the Mutual Agreement between Government and Employees program," Tyson Foods told <a href="https://www.newsweek.com/tyson-foods-migrants-boycott-1879615">Newsweek </a>in a statement.
The company said it has "strong hiring practices" and its U.S. workers are all legally authorized to work in the country.
Newsweek shared that the Tent Partnership for Refugees website lists Tyson Foods as a partner with a commitment to hiring 2,500 refugees.
An account on X going by the handle EndWokeness shared the misinformation with 2.4 million followers, with the hashtag &#8220;#BoycottTyson.&#8221; 
Tyson employs around 42,000 immigrants and has plans to hire more, according to a <a href="https://www.dailymail.co.uk/news/article-13201583/Americas-meat-poultry-firm-BOYCOTTED-sacks-1-300-staff-Iowa-pork-plant-offers-job-lawyer-packages-bid-hire-42-000-asylum-seekers-New-York.html">report </a>from the Daily Mail.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/02/36933736/why-food-giant-tyson-shares-are-surging-today">Tyson Foods Shares Soar On Q1 Earnings </a>
Planet Fitness Boycott Trends: Another Newsweek <a href="https://www.newsweek.com/planet-fitness-faces-boycott-calls-outraged-conservatives-1880134">report</a> detailed how a Planet Fitness customer in Alaska had her membership canceled after she reported a &#8220;man in the women&#8217;s locker room shaving&#8221; while a 12-year-old girl was present.
The gym member also took pictures of the individual, which violates the company&#8217;s mobile device policy. 
Planet Fitness, a gym franchise with the slogan "judgement-free zone,&#8221; has a non-discrimination policy regarding its locker rooms.
"Members and team members will be treated according to their self-reported gender identity," the chain's website says.
The latest Planet Fitness news has also prompted a 2023 indecent exposure incident involving a bathroom to resurface, which is the subject of a pending lawsuit against the fitness chain.
"Boycott Planet Fitness" was trending over the weekend, with several prominent accounts sharing details of the Alaska incident as well as the 2023 incident.
Billionaire Elon Musk, who is the most followed account and owner of X, responded: "Doesn't sound safe for women" to one <a href="https://twitter.com/elonmusk/status/1769438152874189224">post </a>on Planet Fitness.
But Planet Fitness is reportedly <a href="https://www.dailymail.co.uk/news/article-13206823/Planet-Fitness-trans-locker-room-video-alaska-response.html">standing</a> behind its decision to cancel the woman&#8217;s membership, stating, "discomfort is not a reason to deny access to the transgender member."
Why It's Important: Whether the calls for boycotts on social media against Tyson Foods and Planet Fitness affect each company&#8217;s respective revenue streams remains to be seen. 
Recall how Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/04/31750302/anti-trans-sentiment-cant-hold-bud-light-maker-down-amid-dylan-mulvaney-controversy-the-"> lost market share </a>and revenue for its Bud Light brand due to conservative outrage over the beverage company&#8217;s ads featuring trans TikTok influencer Dylan Mulvaney.
Irate X users were quick to call for Planet Fitness to get "the Bud Light treatment."
Future earnings reports and earnings calls could be closely monitored by investors to see if this was a one-off event that went away or has a lingering impact.
TSN, PLNT Price Action: Tyson shares are down 1% to 55.71 on Monday versus a 52-week trading range of $44.94 to $63.28.
Planet Fitness shares are down 1% to $59.89 on Monday versus a 52-week trading range of $44.13 to $84.48.
Read Next: <a href="https://www.benzinga.com/news/23/06/33083401/mark-cuban-vs-chamath-palihapitiya-billionaires-battle-over-go-woke-go-broke-mantra">Mark Cuban Vs. Chamath Palihapitiya: Billionaires Battle Over &#8216;Go Woke, Go Broke&#8217; Mantra</a>
Image: Shutterstock

Former President Donald Trump surprised some people when he shared he was <a href="https://www.benzinga.com/news/24/03/37572294/donald-trump-is-against-tiktok-ban-because-it-would-help-facebook-and-zuckerschmuck-double-their-bus">against banning TikTok.</a>
While Trump criticized the potential ban and the positive impact it could have on Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), there could be a bigger reason for the former president's reversed course.  
What Happened: The U.S. House of Representatives<a href="https://www.benzinga.com/general/entertainment/24/03/37664282/tiktok-bill-passes-house-vote-influencers-on-edge-chinese-owned-app-used-by-150m-americans"> approved a bill </a>to force TikTok parent ByteDance to sell TikTok or face a potential ban in the U.S. The bill now faces a vote in Senate and potential signing by President Joe Biden if approved.
Trump is among the people sharing his opinion on the potential TikTok ban.
"If you get rid of TikTok, Facebook and Zuckerschmuck will double their business," Trump posted on his Truth Social account. "I don't want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!"
The comments may have been surprising given Trump has previously been against TikTok and supportive of a ban. The former president <a href="https://www.benzinga.com/government/20/08/16981590/trump-signs-executive-orders-to-ban-tiktok-wechat-in-45-days-if-parent-companies-fail-to-make-a-sale">signed an executive order</a> for ByteDance to divest the TikTok U.S. division. The decision was later blocked by courts.
Trump also owns a media company Trump Media &amp; Technology Group, which is set to merge with Digital World Acquisition Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWAC#NASDAQ">DWAC</a>). The company could be considered a rival to TikTok as a social media platform. A ban of TikTok could be beneficial to Trump's media company as it looks to<a href="https://www.benzinga.com/general/social-media/24/02/36896510/truth-social-testing-video-streaming-could-trumps-company-hurt-its-partner-rumble"> expand into video.</a>
One reason for the potential reversal of his stance on TikTok could be the support of Republican megadonor Jeff Yass, who owns 15% of ByteDance.
A report from <a href="https://www.politico.com/news/2024/03/14/trump-tiktok-billionaire-donors-00146892">Politico </a>featured the potential of Trump looking for a way to benefit from being against the TikTok ban.
"It's a mirror image of 2020," former technology company spokesperson Nu Wexler told Politico. "He tried to ban TikTok and then figured out that there was an out — that he could take care of a donor — and flipped on it."
The report highlighted the order by Trump for ByteDance to sell the U.S. arm of TikTok. The company that would have benefitted from the move was Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), which was co-founded by Trump donor Larry Ellison. Oracle CEO Safra Catz also donated to the Trump campaign for the 2020 election.
Yass is a donor to Club for Growth, a conservative group that supports Trump for the 2024 presidential election. Club for Growth is using former Trump adviser Kellyanne Conway to fight Congress's plan to ban TikTok.
"When it comes to Donald Trump, follow the money," Rep. Nancy Pelosi (D-Calif.) told Politico of Trump's TikTok reversal.
Trump <a href="https://www.benzinga.com/news/24/03/37594839/enemy-of-the-people-trump-slams-meta-stock-as-tiktok-ban-faces-scrutiny">acknowledged in an interview</a> with CNBC that he recently met with Yass but the two did not talk about TikTok or ByteDance.
Related Link: <a href="https://www.benzinga.com/government/24/03/37710878/congress-moves-to-ban-tiktok-could-members-benefit-from-positions-in-social-media-stocks-like-meta-p">Congress Moves To Ban TikTok: Could Members Benefit From Positions In Social Media Stocks Like Meta Platforms?</a>
Why It's Important: While the reversal of opinion on banning TikTok could have more to do with being <a href="https://www.benzinga.com/general/education/23/10/35339684/if-you-invested-1-000-in-meta-platforms-stock-when-donald-trump-said-facebook-was-always-anti-t">outspoken on Meta Platforms </a>and its CEO Mark Zuckerberg, the timing of the reversal after meeting with Yass has drawn scrutiny.
The report also comes after a <a href="https://www.benzinga.com/general/politics/24/02/36990137/trump-says-anheuser-busch-deserves-second-chance-after-conservative-backlash-rocks-bud-light">similar reversal by Trump</a> happened in regards to beer brand Bud Light and its parent company Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>).
"The Bud Light ad was a mistake of epic proportions, and for that a very big price was paid," Trump said.
Trump shared his support for the beer company on Truth Social and told his followers that the company was "not a Woke company."
"Anheuser-Busch is a Great American Brand that deserves a Second Chance."
The positive comments on the beer company came ahead of a fundraiser for the former president hosted by top Anheuser-Busch lobbyist Jeff Miller.
TikTok and Bud Light change of hearts by Trump shared similar timing with events or meetings with major Republican donors.
While it could be purely coincidental, Trump's changing stance on TikTok could become a major talking point ahead of the 2024 presidential election.
Read Next: <a href="https://www.benzinga.com/general/politics/24/03/37625748/trump-tried-to-get-elon-musk-to-buy-truth-social-new-report-highlights-former-presidents-pitch">Trump Tried To Get Elon Musk To Buy Truth Social: New Report Highlights Former President&#8217;s Pitch</a>
Photos: Shutterstock

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Why Did Donald Trump Change His Mind About TikTok? 'Follow The Money' Says Rep. Nancy Pelosi

Shares of Limbach Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lmb#NASDAQ">LMB</a>) fell sharply during Thursday&rsquo;s session after the company reported fourth-quarter financial results and issued FY24 revenue guidance below estimates.
Limbach said it sees FY24 revenue of $510 million to $530 million, versus market estimates of $541.1 million.
Limbach shares dipped 14.7% to $42.42 on Thursday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Aptorum Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apm#NASDAQ">APM</a>) shares climbed 91% to $8.27.</li>
<li>Presto Automation Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prst#NASDAQ">PRST</a>) shares jumped 65.2% to $0.3715 after jumping 15% on Wednesday.</li>
<li>Cheer Holding, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chr#NASDAQ">CHR</a>) surged 43.3% to $3.77 following full year 2023 financial results.</li>
<li>WiMi Hologram Cloud Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wimi#NASDAQ">WIMI</a>) shares gained 36.9% to $1.5060.</li>
<li>Turtle Beach Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hear#NASDAQ">HEAR</a>) gained 29.2% to $14.25 after the company announced the acquisition of PDP and its intention to launch a modified &quot;Dutch Auction&quot; Tender Offer. The company also reported fourth-quarter financial results.</li>
<li>VAALCO Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egy#NYSE">EGY</a>) rose 22% to $5.45 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Build-A-Bear Workshop, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbw#NYSE">BBW</a>) gained 15.7% to $29.20 after the company reported better-than-expected fourth-quarter EPS but missed on revenue. Additionally, the company guided FY24 revenue growth on a low-to-mid-single-digit percentage basis.</li>
<li>Unicycive Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uncy#NASDAQ">UNCY</a>) gained 15% to $1.5980. The company announced a $50 million private placement.</li>
<li>DICK&#39;S Sporting Goods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>) rose 14.8% to $215.70 after the company reported strong fourth-quarter results and issued guidance above consensus estimates.</li>
<li>Lithium Americas Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lac#NYSE">LAC</a>) surged 14.6% to $6.57 after the company announced that it received a conditional commitment from the U.S. Department of Energy for a $2.26 billion loan under the Advanced Technology Vehicles Manufacturing Loan Program for financing the construction of the processing facilities at Thacker Pass in Nevada.</li>
<li>Auddia Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/auud#NASDAQ">AUUD</a>) shares gained 11.5% to $3.07 after falling 6% on Wednesday.</li>
<li>Impinj, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pi#NASDAQ">PI</a>) gained 11.5% to $126.53 after the company announced a patent litigation settlement with NXP Semiconductors.</li>
<li>ShiftPixy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pixy#NASDAQ">PIXY</a>) gained 9.2% to $3.5501 after gaining over 3% on Wednesday.</li>
<li>CCSC Technology International Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cctg#NASDAQ">CCTG</a>) rose 8.7% to $3.6401 after gaining 14% on Wednesday.</li>
<li>Eventbrite, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eb#NYSE">EB</a>) surged 8.7% to $5.55. Eventbrite announced a $100 million share repurchase program.</li>
<li>Perfect Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/perf#NYSE">PERF</a>) gained 8.6% to $2.8550.</li>
<li>Robinhood Markets, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) rose 6.3% to $18.24 after the company reported February trading metrics.</li>
<li>Spero Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spro#NASDAQ">SPRO</a>) climbed 5.1% to $1.7450 following better-than-expected fourth-quarter financial results.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Spruce Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sprb#NASDAQ">SPRB</a>) shares dipped 78.5% to $1.1150 after the company reported FY23 financial results. Also, the company announced that the CAHmedlia-203 study of Tildacerfont in adult classic congenital adrenal hyperplasia with severe hyperandrogenemia did not meet its primary efficacy endpoint.</li>
<li>Better Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bttx#NASDAQ">BTTX</a>) tumbled 78% to $0.0452. Better Therapeutics announced it will seek strategic alternatives and will be delisted from the Nasdaq.</li>
<li>Fisker Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fsr#NYSE">FSR</a>) fell 49% to $0.1644 following a Wall Street Journal report suggesting the company is preparing for a possible bankruptcy filing.</li>
<li>TRACON Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) dipped 33.7% to $0.4182.</li>
<li>Immuneering Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imrx#NASDAQ">IMRX</a>) fell 31.6% to $4.02 after the company announced topline results from Phase 1 portion of its Phase 1/2a clinical trial of IMM-1-104 in RAS-mutant solid tumors.</li>
<li>RCM Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcmt#NASDAQ">RCMT</a>) dipped 27.9% to $20.74 following weak quarterly sales.</li>
<li>Katapult Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kplt#NASDAQ">KPLT</a>) declined 27% to $13.44 following fourth-quarter results.</li>
<li>Hello Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/momo#NASDAQ">MOMO</a>) fell 24.1% to $5.82 after the company reported fourth-quarter financial results and issued first-quarter revenue guidance.</li>
<li>First Wave BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwbi#NASDAQ">FWBI</a>) dipped 23.8% to $4.9750. First Wave BioPharma announcec completion of business combination with ImmunogenX.</li>
<li>Pagaya Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pgy#NASDAQ">PGY</a>) declined 22.5% to $12.02 after the company commenced an underwritten offering of 6.5 million shares.</li>
<li>RumbleON, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rmbl#NASDAQ">RMBL</a>) fell 21.8% to $5.55 following weak quarterly sales.</li>
<li>Pangaea Logistics Solutions, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/panl#NASDAQ">PANL</a>) dipped 20% to $6.62 after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Regulus Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgls#NASDAQ">RGLS</a>) tumbled 16.9% to $2.0188.</li>
<li>Petco Health and Wellness Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/woof#NASDAQ">WOOF</a>) fell 16.4% to $2.1050. Baird analyst Justin Kleber maintained Petco Health and Wellness with a Neutral and lowered the price target from $3 to $2.5.</li>
<li>G-III Apparel Group, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/giii#NASDAQ">GIII</a>) fell 16.3% to $25.37 following mixed fourth-quarter financial results. The company also issued lower-than-expected revenue and EPS guidance for FY25.</li>
<li>NextNav Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nn#NASDAQ">NN</a>) fell 15% to $4.7640 after posting a quarterly loss.</li>
<li>SentinelOne, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/s#NYSE">S</a>) dipped 14.9% to $23.78 after the company reported fourth-quarter financial results and issued guidance.</li>
<li>Erayak Power Solution Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/raya#NASDAQ">RAYA</a>) fell 14.5% to $0.8025 after surging 31% on Wednesday.</li>
<li>Global Gas Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hgas#NASDAQ">HGAS</a>) shares fell 13.3% to $2.15 after surging 16% on Wednesday.</li>
<li>Sunnova Energy International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nova#NYSE">NOVA</a>) declined 12.8% to $4.0540.</li>
<li>Highest Performances Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/puyi#NASDAQ">PUYI</a>) dipped 12.6% to $7.47.</li>
<li>Under Armour, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uaa#NYSE">UAA</a>) dipped 12.6% to $7.07 amid volatility following a CEO transition. Additionally, Williams Trading downgraded the stock from Buy to Hold and announced an $8 price target.</li>
<li>Vroom, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrm#NASDAQ">VRM</a>) shares tumbled 11.2% to $15.53 as the company reported a loss of $80.51 per share for the fourth quarter. The company&rsquo;s quarterly sales came in at $235.92 million which beat the analyst consensus estimate of $232 million.</li>
<li>Futu Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/futu#NASDAQ">FUTU</a>) shares fell 9.5% to $59.17 following fourth-quarter results.</li>
<li>Madrigal Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdgl#NASDAQ">MDGL</a>) fell 9.1% to $248.09.</li>
<li>Qilian International Holding Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qli#NASDAQ">QLI</a>) shares tumbled 8.8% to $0.5921 after surging 18% on Wednesday.</li>
<li>Affirm Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/afrm#NASDAQ">AFRM</a>) fell 8.3% to $35.56.</li>
<li>UiPath Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/path#NYSE">PATH</a>) fell 6.8% to $22.72 after the company reported fourth-quarter financial results.</li>
<li>Anheuser-Busch InBev SA/NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) shares fell 4.7% to $61.51 after Altria announced its intent to sell a portion of its investment in the company.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37701714/ethereum-falls-below-4-000-following-ppi-data-bittensor-apecoin-among-top-losers"> Ethereum Falls Below $4,000 Following PPI Data; Bittensor, ApeCoin Among Top Losers </a>

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NOVA

PANL

PATH

PERF

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Why Limbach Holdings Shares Are Trading Lower By Around 15%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

Anheuser-Busch Inbev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) shares are trading lower by 5.45% to $61.03 during Thursday&#8217;s session after Altria Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) announced its intent to sell a portion of its <a href="https://www.benzinga.com/pressreleases/24/03/b37676114/altria-announces-intent-to-sell-a-portion-of-its-investment-in-anheuser-busch-inbev">investment in the company</a>.
Altria announced its intention to sell a portion of its investment in Anheuser-Busch InBev SA/NA (ABI) through a global secondary offering. This offering includes public offerings of ABI shares in the United States and other countries, as well as a private placement in Europe and the UK. Additionally, ABI will repurchase $200 million of shares directly from Altria. 
Altria currently holds approximately 10% ownership in ABI and is offering 35 million of its ordinary shares. The underwriters may have an option to purchase additional shares, and Altria has agreed to a 180-day lockup with the lead underwriter for its remaining ABI shares. The proceeds from the offering will be used for additional share repurchases of Altria&#8217;s common stock. 
Altria&#8217;s CEO, Billy Gifford, expressed confidence in the transaction, stating it is an opportunity to unlock value from their ABI investment while maintaining confidence in ABI&#8217;s long-term strategies and brands. The offering and partial sale have been approved by Altria&#8217;s Board of Directors.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37638491/a-few-lucky-people-can-get-reddit-ipo-shares-heres-how">A Few Lucky People Can Get Reddit IPO Shares: Here&#8217;s How</a>
<h2 class="wp-block-heading">Is BUD A Good Stock To Buy?</h2>
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) has reported average annual revenue growth of 3.34% over the past 5 years. .
It's also important to pay attention to valuation when deciding whether to buy a stock. Anheuser-Busch InBev has a forward P/E ratio of 18.94. This means investors are paying $18.94 for each dollar of expected earnings in the future. The average forward P/E ratio of Anheuser-Busch InBev's peers is 17.81.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out <a href="https://pro.benzinga.com">Benzinga PRO</a>.
BUD has a 52-week high of $67.09 and a 52-week low of $51.66.

Why Anheuser-Busch (BUD) Stock Is Falling

Financial giants have made a conspicuous bullish move on Anheuser-Busch InBev. Our analysis of options history for Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $500,431, and 4 were calls, valued at $456,150.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $57.5 to $72.5 for Anheuser-Busch InBev during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Anheuser-Busch InBev's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Anheuser-Busch InBev's substantial trades, within a strike price spectrum from $57.5 to $72.5 over the preceding 30 days.
<h3>Anheuser-Busch InBev Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710428470_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BUD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$57.50</td>
<td>$333.7K</td>
<td>0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$60.00</td>
<td>$162.5K</td>
<td>2.6K</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$60.00</td>
<td>$150.1K</td>
<td>2.6K</td>
<td style="text-align: right;">500</td>
</tr>
<tr>
<td>BUD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$60.00</td>
<td>$99.8K</td>
<td>1.0K</td>
<td style="text-align: right;">83</td>
</tr>
<tr>
<td>BUD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$72.50</td>
<td>$90.8K</td>
<td>841</td>
<td style="text-align: right;">80</td>
</tr>
</tbody>
</table>

<h3>About Anheuser-Busch InBev</h3>
Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and U.S.-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev and in 2016 it acquired SABMiller.
Having examined the options trading patterns of Anheuser-Busch InBev, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Anheuser-Busch InBev's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 4,918,101, the BUD's price is down by -4.79%, now at $61.46. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 49 days.</li>
</ul>
<h3>Expert Opinions on Anheuser-Busch InBev</h3>
1 market experts have recently issued ratings for this stock, with a consensus target price of $65.0.
<ul>
<li>An analyst from TD Cowen persists with their Outperform rating on Anheuser-Busch InBev, maintaining a target price of $65. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Anheuser-Busch InBev options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Altria Group, Inc. (Altria) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) today announced that it has agreed to sell 35 million shares of Anheuser-Busch InBev SA/NV (ABI) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) (Euronext: ABI) (MEXBOL: ANB) (JSE: ANH) through a global secondary offering (offering) comprised of a public offering of ABI ordinary shares represented by American depositary shares (ADS) in the United States, a public offering of ABI ordinary shares in the United States, a concurrent private placement of ABI ordinary shares in the European Economic Area and the United Kingdom and an offering of ABI ordinary shares, including ABI ordinary shares represented by ADSs, in other countries outside the United States, at a price of $61.50 per ADS, corresponding to €56.17 per ABI ordinary share. In addition, ABI will repurchase $200 million of ordinary shares directly from Altria, concurrently with, and conditional on, completion of the offering. The aggregate amount of the offering and repurchase by ABI is approximately $2.4 billion. Altria has also granted the underwriters an option to purchase up to 5.25 million additional ABI shares owned by Altria at the price per ADS paid by the underwriters in the offering, exercisable within the next 30 days.
In connection with the pricing of the offering, we announce a $2.4 billion increase to our existing $1 billion share repurchase program. Our Board of Directors (Board) has authorized the expanded program, which we expect to complete by December 31, 2024. Share repurchases depend on marketplace conditions and other factors, and the program remains subject to the discretion of our Board. As part of the expanded share repurchase program, we expect to enter into an estimated $2.4 billion accelerated share repurchase (ASR) program. We expect cash savings from the elimination of future dividend payments on the repurchased shares.
"These opportunistic capital allocation decisions reflect our ongoing confidence in Altria's future and the significant value offered in our shares today," said Billy Gifford, Altria's Chief Executive Officer. "We have a longstanding history of returning cash to our shareholders, and today's announcement reflects our continued desire to create long-term shareholder value."
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Partial Sale of Our Investment in ABI
<ul>
<li>Our remaining ownership of ABI after the offering and the share repurchase by ABI will be approximately 8.1% (or approximately 7.8% assuming full exercise of the underwriters' option to purchase additional shares). We estimate that we will own approximately 159 million shares of ABI (or approximately 154 million shares of ABI assuming full exercise of the underwriters' option to purchase additional shares) following the offering and the share repurchase by ABI.</li>
<li>In conjunction with the offering, we have agreed to a 180-day lockup with the lead underwriter for our remaining ABI shares.</li>
<li>We expect to maintain two seats on ABI's board of directors through ABI's 2025 annual general meeting. Following such meeting, we expect to have one seat on ABI's board of directors, in accordance with our rights as a holder of restricted shares.</li>
<li>Following the offering, we expect to continue to use the equity method of accounting for our investment in ABI.</li>
</ul>
Financial Flexibility and Cash Returns to Shareholders
<ul>
<li>We expect cash savings from the elimination of future dividend payments on the repurchased shares of our common stock. These cash savings may be used for general corporate purposes including investments in our Vision, debt repayment or further cash returns to shareholders.</li>
<li>We remain committed to our progressive dividend goal that targets mid-single digits dividend per share growth annually through 2028. Future dividend payments remain subject to the discretion of our Board.</li>
</ul>
2024 Full-Year Guidance
We expect the combined transactions will be accretive to our 2024 full-year adjusted diluted earnings per share (EPS). Therefore, we raise our guidance for 2024 full-year adjusted diluted EPS to be in a range of $5.05 to $5.17, representing a growth rate of 2% to 4.5% from a base of $4.95 in 2023, to reflect our estimate for lower 2024 weighted-average shares outstanding, partially offset by lower equity earnings related to the reduced ownership of our investment in ABI. We expect 2024 adjusted diluted EPS growth to be weighted to the second half of the year. Our guidance includes the impact of two additional shipping days in 2024 and assumes limited impact from enforcement efforts in the illicit e-vapor market on combustible and e-vapor volumes.
While the 2024 full-year adjusted diluted EPS guidance accounts for a range of scenarios, the external environment remains dynamic. We will continue to monitor conditions related to (i) the economy, including the cumulative impact of inflation, (ii) adult tobacco consumer dynamics, including purchasing patterns and adoption of smoke-free products, (iii) illicit e-vapor enforcement and (iv) regulatory, litigation and legislative developments.
Our 2024 full-year adjusted diluted EPS guidance range includes planned investments in support of our Vision, such as (i) marketplace activities in support of our smoke-free products and (ii) continued smoke-free product research, development and regulatory preparation expenses.
The 2024 full-year adjusted diluted EPS guidance range excludes estimated net income of approximately $0.2 billion (or $0.12 per share) that we expect to record in the first quarter of 2024 for the partial sale of our investment in ABI. This estimated net income is subject to certain adjustments, including any exercise of the underwriters' option to purchase additional shares, adjustments related to the conversion from international financial reporting standards to U.S. generally accepted accounting principles (GAAP) and adjustments required under the equity method of accounting. Additionally, the guidance excludes an estimated per share gain of $1.17 related to the sale of the IQOS Tobacco Heating System commercialization rights that we expect to record in the second quarter of 2024.
Our full-year adjusted diluted EPS guidance range excludes the impact of certain income and expense items that our management believes are not part of underlying operations. These items may include, for example, loss on early extinguishment of debt, restructuring charges, asset impairment charges, acquisition, disposition and integration-related items, equity investment-related special items, certain income tax items, charges associated with tobacco and health and certain other litigation items, and resolutions of certain non-participating manufacturer (NPM) adjustment disputes under the MSA (NPM Adjustment Items).
Our management cannot estimate on a forward-looking basis the impact of certain income and expense items, including those items noted in the preceding paragraph, on our reported diluted EPS because these items, which could be significant, may be unusual or infrequent, are difficult to predict and may be highly variable. As a result, we do not provide a corresponding GAAP measure for, or reconciliation to, our adjusted diluted EPS guidance.

Guidance

Buybacks

Altria Announces A $2.4B Increase To Our Existing $1B Share Repurchase Program In Connection With Pricing Of Offering Of Anheuser-Busch InBev Stock; Raises FY24 EPS Guidance To $5.05-$5.17 Vs $5.05 Est.

WIIM

Anheuser-Busch Inbev shares are trading lower after Altria announced its intent to sell a portion of its investment in the company.

U.S. stock futures were higher this morning, with the Dow futures gaining by around 100 points on Thursday.
Shares of Hello Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/momo#NASDAQ">MOMO</a>) fell sharply in today&rsquo;s pre-market trading after the company reported fourth-quarter financial results and issued <a href="https://www.benzinga.com/quote/MOMO/earnings">first-quarter revenue guidance</a>.
Hello Group posted adjusted earnings of 37 cents per share, compared to estimates of 34 cents per share. The company&rsquo;s quarterly sales came in at $422.95 million versus expectations of $405.61 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Hello Group said it sees first-quarter net revenue of RMB2.45 billion to RMB2.55 billion.
Hello Group shares dipped 19.1% to $6.21 in pre-market trading.
Here are some big stocks recording losses in today&rsquo;s pre-market trading session.
<ul>
<li>Pagaya Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pgy#NASDAQ">PGY</a>) declined 14.1% to $13.32 in pre-market trading after the company commenced an underwritten offering of 6.5 million shares.</li>
<li>Futu Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/futu#NASDAQ">FUTU</a>) shares fell 11.5% to $57.90 in pre-market trading following fourth-quarter results.</li>
<li>SentinelOne, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/s#NYSE">S</a>) dipped 9.7% to $25.22 in pre-market trading after the company reported fourth-quarter financial results and issued guidance.</li>
<li>UP Fintech Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tigr#NASDAQ">TIGR</a>) declined 6.6% to $4.64 in pre-market trading. UP Fintech Holding is expected to report its financial results for the fourth quarter, before the opening bell on March 20, 2024.</li>
<li>Nukkleus Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nukk#NASDAQ">NUKK</a>) fell 5.5% to $0.9734 in pre-market trading after dipping 8% on Wednesday.</li>
<li>HUTCHMED (China) Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hcm#NASDAQ">HCM</a>) declined 5.4% to $17.55 in pre-market trading after gaining around 14% on Wednesday.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aaoi#NASDAQ">AAOI</a>) shares fell 4.4% to $13.36 in pre-market trading. On Feb. 22, Applied Optoelectronics reported fourth-quarter financial results and issued guidance.</li>
<li>Anheuser-Busch InBev SA/NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) shares fell 3.9% to $62.01 in pre-market trading after Altria announced its intent to sell a portion of its investment in the company.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/03/37682999/investor-sentiment-edges-higher-s-p-500-falls-from-record-high"> Investor Sentiment Edges Higher, S&amp;P 500 Falls From Record High </a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Pre-Market Outlook

AAOI

NUKK

TIGR

Hello Group Posts Q4 Results, Joins SentinelOne, Futu Holdings And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Altria Group, Inc. (Altria) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>) today announced its intent to sell a portion of its investment in Anheuser-Busch InBev SA/NA (ABI) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) (Euronext: ABI) (MEXBOL: ANB) (JSE: ANH) through a global secondary offering (offering) comprised of a public offering of ABI ordinary shares represented by American depositary shares (ADS) in the United States, a public offering of ABI ordinary shares in the United States, a concurrent private placement of ABI ordinary shares in the European Economic Area and the United Kingdom and an offering of ABI ordinary shares, including ABI ordinary shares represented by ADSs, in other countries outside the United States. In addition, ABI has agreed to repurchase $200 million of ordinary shares directly from Altria, concurrently with, and conditional on, completion of the offering.
Altria currently holds approximately 197 million shares of ABI, representing approximately 10% ownership. Altria, as the selling shareholder, is offering 35 million of ABI's ordinary shares. In connection with the offering, Altria expects to grant the underwriters an option to purchase up to 5.25 million additional ABI shares owned by Altria, exercisable within 30 days following the pricing of the offering. In addition, we have agreed to a 180-day lockup with the lead underwriter for our remaining ABI shares.
We expect to use the proceeds for additional share repurchases of our common stock. Future share repurchases remain subject to the discretion of our Board of Directors (Board).
"As good stewards of shareholder capital, we consistently review options to unlock the value of our ABI investment, and we believe this is an opportunistic transaction that realizes a portion of the substantial return on our long-term investment," said Billy Gifford, Altria's Chief Executive Officer. "Over the decades of our ownership, the beer investment has provided significant income and cash returns and supported our strong balance sheet. Our continued investment reflects ongoing confidence in ABI's long-term strategies, premium global brands and experienced management team."
The offering and the partial sale of our investment in ABI have been approved by our Board.

Offerings

Asset Sales

Altria Announces Intent To Sell A Portion Of Its Investment In Anheuser-Busch InBev Through A Global Secondary Offering Comprised Of A Public Offering Of ABI Ordinary Shares; In Addition, ABI Has Agreed To Repurchase $200M Of Ordinary Shares Directly From Altria, Concurrently With, And Conditional On, Completion Of The Offering

A new study published in Drug and Alcohol Dependence suggests that&nbsp;legalizing cannabis is "associated with a decline in beer sales" and consumption.&nbsp;
The <a href="https://www.sciencedirect.com/science/article/pii/S0376871624000589">study</a>, conducted by a team from the University of Manitoba, Memorial University and the University of Toronto, examined beer sales data in Canada before and after the legalization of recreational marijuana in 2018.
Researchers observed an immediate drop of 96 hectoliters per 100,000 people, followed by a further monthly decline of four hectoliters per 100,000 people. This translates to an average monthly decrease of 136 hectoliters per 100,000 people post-legalization. A hectoliter is a metric unit of capacity equal to one hundred liters. 
Data from the 2022-23 fiscal year shows that&nbsp;Canada generated more excise tax revenue from cannabis ($660 million)&nbsp;than from&nbsp;wine ($205 million) and beer ($450 million) combined. This economic shift highlights the&nbsp;potential impact of cannabis legalization on the alcohol industry.
The study&#8217;s authors interpret these findings as evidence of a&nbsp;&#8220;substitution effect,&#8221;&nbsp;where individuals are&nbsp;opting for cannabis over beer as their intoxicant of choice. This theory is further supported by the observation that the&nbsp;decline was specific to canned and kegged beer, which are often associated with&nbsp;at-home consumption. 
The study aligns with&nbsp;recent trends in the U.S. where several states with legal cannabis <a href="https://www.benzinga.com/content/36310043/marijuana-will-gain-millions-of-consumers-over-alcohol-with-sales-hitting-37-billion-by-2027-investm">have reported&nbsp;</a>cannabis surpassing alcohol sales. Then there's the <a href="https://news.gallup.com/opinion/polling-matters/398138/americans-future-cigarettes-marijuana-alcohol.aspx">2022 Gallup poll</a> that found Americans viewed cannabis to be far less harmful than alcohol, potentially contributing to the shift in consumption patterns.
Tilray: Getting In On Both Beer And Weed
Last August, Canada-based&nbsp;Tilray Brands&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>)&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/08/33612189/tilray-acquires-8-beer-brands-from-struggling-bud-light-parent-anheuser-busch-heres-what-it-mean">acquired&nbsp;eight beer and beverage brands</a>&nbsp;from&nbsp;Anheuser-Busch&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>), making it the 5th&nbsp;largest craft beer business in the&nbsp;U.S.
Man With A Plan
Tilray chairman and CEO&nbsp;Irwin D. Simon <a href="applewebdata://763ECA49-ADB8-46C7-B33F-1321DCD5DA07/While%20Simon%20is%20clearly%20optimistic%20that%20legalization%20in%20the%20U.S.%20is%20in%20the%20cards,%20and%20soon,%20he%20called%20his%20$4%20billion%20goal%20%E2%80%9Caspirational.%E2%80%9D%20%20%E2%80%9CMy%20aspirations%20are%20built%20on%20legalization%20in%20the%20United%20States.%E2%80%9D">told Benzinga</a>&nbsp;in 2021 that he was set to capitalize on cannabis legalization in the U.S. and intended to create beer infused with cannabis.
"Upon legalization (in the U.S.) one day, we will infuse these drinks with THC, with CBD, but we'll have the distribution and we'll have the brands when and if legalization does happen," Simon <a href="https://www.benzinga.com/markets/cannabis/23/09/34549071/tilray-ceo-bullish-on-beer-and-cannabis-legalization-moves-closer-to-4b-aspirational-goal">said</a> this past August.
The&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a>&nbsp;is returning to Florida in a new venue in Hollywood on April 16 and 17, 2024. The two-day event at&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a>&nbsp;will be a chance for entrepreneurs, both large and small, to network, learn, and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars — this conference is the go-to event of the year for the cannabis world.&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on&nbsp;</a><a href="http://bzcannabis.com/" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">&nbsp;– Prices will increase very soon!</a>
Photo: Courtesy of Engin Akyurt and Washarapol D BinYo Jundang by Pexels and Linkedin

Cannabis

Retail Sales

TLRY

Is Cannabis Replacing Beer? Canadian Study Links Weed Legalization To Drop In Alcohol Sales

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>HC Wainwright &amp; Co. boosted the price target for Avadel Pharmaceuticals plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avdl#NASDAQ">AVDL</a>) from $21 to $25. HC Wainwright &amp; Co. analyst Oren Livnat maintained a Buy rating. Avadel Pharmaceuticals shares gained 17.6% to close at $16.13 on Monday. <a href="https://www.benzinga.com/quote/AVDL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays cut the price target for Noble Corporation plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ne#NYSE">NE</a>) from $61 to $59. Barclays analyst Eddie Kim maintained an Overweight rating. Noble shares fell 0.8% to close at $43.02 on Monday. <a href="https://www.benzinga.com/quote/NE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen lowered Anheuser-Busch InBev SA/NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) price target from $67 to $65. TD Cowen analyst Vivien Azer maintained an Outperform rating. Anheuser-Busch InBev shares fell 0.1% to close at $60.10 on Monday. <a href="https://www.benzinga.com/quote/BUD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan boosted the price target for Sea Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/se#NYSE">SE</a>) from $43 to $70. JP Morgan analyst Ranjan Sharma upgraded Sea from Neutral to Overweight. Sea shares gained 5.6% to close at $53.90 on Monday. <a href="https://www.benzinga.com/quote/SE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham increased Viant Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dsp#NASDAQ">DSP</a>) price target from $10 to $12. Needham analyst Laura Martin maintained a Buy rating. Viant Technology shares gained 1.3% to close at $9.18 on Monday. <a href="https://www.benzinga.com/quote/DSP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Bernstein boosted the price target for American Airlines Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aal#NASDAQ">AAL</a>) from $20 to $21. Bernstein analyst David Vernon maintained an Outperform rating. American Airlines shares fell 5.4% to close at $14.81 on Monday. <a href="https://www.benzinga.com/quote/AAL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>UBS slashed The Chemours Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cc#NYSE">CC</a>) price target from $37 to $21. UBS analyst Joshua Spector downgraded the stock from Buy to Neutral. Chemours shares fell 2.8% to close at $20.19 on Monday. <a href="https://www.benzinga.com/quote/CC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc boosted Veeva Systems Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/veev#NYSE">VEEV</a>) price target from $232 to $250. Keybanc analyst Scott Schoenhaus maintained an Overweight rating. Veeva shares climbed 1.8% to close at $226.00 on Monday. <a href="https://www.benzinga.com/quote/VEEV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Chardan Capital increased Avidity Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rna#NASDAQ">RNA</a>) price target from $23 to $33. Chardan Capital analyst Keay Nakae maintained a Buy rating. Avidity Biosciences shares fell 6.2% to close at $18.86 on Monday. <a href="https://www.benzinga.com/quote/RNA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B. Riley Securities cut Genesco Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gco#NYSE">GCO</a>) price target from $43 to $31. B. Riley Securities analyst Jeff Lick downgraded the stock from Buy to Neutral. Genesco shares fell 1% to close at $31.40 on Monday. <a href="https://www.benzinga.com/quote/GCO/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/03/37474323/stitch-fix-target-and-3-stocks-to-watch-heading-into-tuesday"> Stitch Fix, Target And 3 Stocks To Watch Heading Into Tuesday </a>

Price Target

Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

AVDL

VEEV

American Airlines To Rally Around 42%? Here Are 10 Top Analyst Forecasts For Tuesday

TD Cowen analyst Vivien Azer maintains Anheuser-Busch InBev (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) with a Outperform and lowers the price target from $67 to $65.

TD Cowen Maintains Outperform on Anheuser-Busch InBev, Lowers Price Target to $65

Anheuser-Busch shares are trading lower after the company reported worse-than-expected Q4 revenue results. Also, the company reported a decline in total volumes and own beer volumes.

Anheuser-Busch InBev SA/NV&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>) reported fourth-quarter fiscal 2023 revenue growth of 6.2% organic year-over-year to $14.473 billion, missing the consensus of $15.49 billion.
Total volumes declined by 2.6%, with own beer volumes down by 3.6% and non-beer volumes up by 3%. Revenue per hl grew 9.3%.
The company had about 70% of its revenue through B2B digital platforms and over $550 million revenue was generated by the digital direct-to-consumer ecosystem.
Gross profit for the quarter declined to $7.794 billion (up 5.3% organically), and gross margin contracted 49 basis points to 53.9%.
Normalized EBITDA for the quarter grew 6.2% organically to $4.88 billion, with the margin almost flat at 33.7%.
The underlying profit for the quarter was $1.66 billion compared to $1.74 billion last year. Underlying EPS of $0.82, down from $0.86 YoY, beating the consensus of $0.78.
U.S. revenues declined by 17.3% Y/Y, with sales-to-retailers down by 12.1%, primarily due to the volume decline of Bud Light.
Net debt to normalized EBITDA ratio was 3.38x on December 31, 2023, compared to 3.51x a year ago.
As of February 23, 2024, $870 million of the $1 billion share repurchase program announced on October 31, 2023, has been executed.
As of December 31, 2023, the company had a total liquidity of $20.5 billion, which consisted of $10.1 billion available under committed long-term credit facilities and $10.4 billion of cash, cash equivalents, and short-term investments in debt securities less bank overdrafts.
2024 Outlook: AB InBev expects EBITDA to grow in line with a medium-term outlook of 4-8%. It expects capital expenditure of $4 billion &#8211; $4.5 billion.
Price Action: BUD shares are trading lower by 3.28% at $60.40 on the last check Thursday.
Photo via Shutterstock

Earnings

Equities

Why Bud Light Parent AB InBev Shares Are Taking A Hit Today

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
When economic circumstances become challenging, it&rsquo;s time to get an edge, which brings us to sin stocks to buy. Yes, the sector dives into controversial arenas. However, controversies can also yield significant upside.



Certainly, the <a href="https://finance.yahoo.com/news/us-economy-adds-303000-jobs-unemployment-falls-to-38-in-march-as-labor-market-continues-to-impress-123226886.html">March jobs report</a> may have provided a fire for sin stocks. You see, the U.S. economy added 303,000 jobs, yet another impressive print. Naturally, this result implies greater inflation, which has been the scourge of American households. To take the edge off the troubles, people may turn to certain adult liberties.



I know it&rsquo;s not the most wholesome thesis out there. However, you know that others are likely thinking the same thing. With that, here are some tempting sin stocks to consider.



<h2>Philip Morris (PM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/pm-1600-300x169.png" alt="Philip Morris factory offices in Lithuania. PM stock."><div>Source: Vytautas Kielaitis / Shutterstock</div></div>Technically listed under the consumer defensive industry, Philip Morris (NYSE:<a href="https://investorplace.com/stock-quotes/pm-stock-quote/">PM</a>) is better known as one of the big tobacco firms. Currently, the company&rsquo;s product portfolio consists of its core cigarette business as well as its smoke-free products. The latter category includes heat-not-burn devices, vaporizers and oral nicotine products. In addition, Philip Morris manufactures consumer accessories, such as lighters and matches.



But why consider PM as one of the sin stocks to buy when <a href="https://www.who.int/news/item/16-01-2024-tobacco-use-declines-despite-tobacco-industry-efforts-to-jeopardize-progress#:~:text=Trends%20in%202022%20show%20a,are%20successfully%20reducing%20tobacco%20use.">global smoking rates</a> have declined over the past several years? First, not every nation has experienced a decline. Second and more importantly, tobacco users haven&rsquo;t completely kicked the practice. Instead, they have gravitated toward &ldquo;digital&rdquo; alternatives such as e-cigarettes. Here, Philip Morris has muscled its way into the arena, booting out smaller players.



Moreover, analysts anticipate an optimistic outing in the years ahead. For fiscal 2024, they&rsquo;re looking at earnings per share of $6.40, which could rise to $7.03 in the next year. On the top line, 2024 sales could reach $37.24 billion, then rise to $39.64 billion in 2025.



Combined with a forward dividend yield of 5.64%, PM is one of the surprisingly attractive sin stocks.



<h2>Anheuser-Busch (BUD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/bud1600-300x169.jpg" alt="Corporate building with Anheuser Busch (BUD) logo on it"><div>Source: legacy1995 / Shutterstock.com</div></div>A couple of years ago, Anheuser-Busch (NYSE:<a href="https://investorplace.com/stock-quotes/bud-stock-quote/">BUD</a>) easily represented one of the top sin stocks to buy. That&rsquo;s because of one brand, Bud Light. For more than two decades, this <a href="https://apnews.com/article/bud-light-beer-modelo-sales-35db706836ca38d5fe194c93a3f641ff#:~:text=June%2014%2C%202023-,After%20more%20than%20two%20decades%20as%20America's%20best%2Dselling%20beer,analyzed%20by%20Bump%20Williams%20Consulting.">was America&rsquo;s best-selling beer</a>. I know it wasn&rsquo;t for the taste. Rather, it provided cheap entertainment, if you will. However, a controversy regarding a social media influencer got many customers angry.



Frankly, I don&rsquo;t want to rehash the whole issue in part because I find the matter rather boring now. However, Anheuser-Busch paid dearly for its marketing decision. A Bud Light boycott may have <a href="https://www.cnn.com/2024/02/29/business/bud-light-boycott-ab-inbev-sales/index.html">cost the parent company over $1 billion in lost sales</a>. Obviously, that&rsquo;s not what you call pleasant news. At the same time, it&rsquo;s also yesterday&rsquo;s news.



Moving forward, analysts anticipate current fiscal year EPS to land at $3.43, up from last year&rsquo;s print of $3.05. Also, revenue could rise to $62.19 billion, up 4.7% from 2023&rsquo;s haul of $59.38 billion. Further, fiscal 2025 sales could jump to $64.8 billion.



Basically, people still love cheap beer. And that love should overcome partisan bickering, especially for an issue that&rsquo;s blas&eacute;.



<h2>RCI Hospitality (RICK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/entertainmentstocksgloomy1600-300x169.png" alt="Free stage with lights, lighting devices. Gloomy entertainment stocks"><div>Source: Oleksandr Nagaiets / Shutterstock.com</div></div>Everyone&rsquo;s favorite idea for sin stocks, RCI Hospitality (NASDAQ:<a href="https://investorplace.com/stock-quotes/rick-stock-quote/">RICK</a>) specializes in what I would term performance art facilities for gentlemen (and sometimes ladies, not that I would know or anything). Since SEO algorithms represent a matter of life and death for me, I&rsquo;ll just leave the description at that. You&rsquo;re free to look at the company&rsquo;s hospitality website on your own time.



What I appreciate about RICK stock is the underlying relevance. Basically, this is a very old industry. And no matter what kind of technologies materialize, basic human behaviors never change. You can wager on the stability of this narrative, which makes RICK an enticing candidate for sin stocks.



It&rsquo;s not just about narratives either. For fiscal 2024, analysts believe that revenue could reach just over $315 million, implying growth of 7.2% from last year. Further, in fiscal 2025, sales could really fly to $351.72 million, up 11.7% from projected 2024 revenue.



Yes, RCI suffered from disappointing earnings performances recently. However, with the job market robust, RICK stock may benefit from increased naughty behavior.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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3 Sin Stocks to Add Some Spice to Your Spring Holdings

Molson Coors trades higher after Goldman Sachs predicts Q1 earnings beat

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Cannabis company Tilray Brands (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlry-stock-quote/">TLRY</a>) stock fell 15% overnight after management admitted it no longer expects to have a positive free cash flow <a href="https://www.barrons.com/articles/tilray-earnings-stock-price-marijuana-063c4801">in fiscal 2024</a>. 



The bad news came in <a href="https://ir.tilray.com/news-releases/news-release-details/tilray-brands-inc-reports-q3-fiscal-2024-financial-results">an earnings release</a> that tried hard to focus on good news about growth and gross profits.



Tilray lost 12 cents/share on $188 million in revenue for the three months ending in February. Analysts had expected a loss of 5 cents/share and $198 million of revenue.



Tilray stock opened this morning at $2.11 per share, a market capitalization of $1.70 billion.



<h2>More Beer!</h2>



While waiting for cannabis to be legalized, Tilray has expanded into beer.



It now owns several craft beer labels, including Sweetwater, Shock Top, and Widmer Brothers. Eight of the brands were bought last year from Anheuser-Busch InBev (NYSE:<a href="https://investorplace.com/stock-quotes/bud-stock-quote/">BUD</a>). That revenue rose 156% from a year ago to $54.7 million, with gross profits up 89% to $18.9 million. Tilray is now the fifth-largest craft brewer in the U.S. with <a href="https://www.marketwatch.com/story/tilray-brands-stock-drops-as-it-reports-wider-than-expected-loss-and-misses-on-revenue-83ba0929">a 4.5% share of the market</a>.



Cannabis revenue, on the other hand, grew just 33% to $63.4 million despite two acquisitions. Gross profit was $21 million, up from a loss of almost $33 million a year ago.



It was the guidance that hit the stock. Tilray blamed delays in getting cash from asset sales for its failure on cash flow. The February quarter was the third of its fiscal year.



In addition to the guidance, analysts are worried about debt levels rising and operating losses expanding <a href="https://seekingalpha.com/article/4682547-tilray-could-break-down">on its acquisitions</a>. Shares have rebounded off a March low of $1.60/share but are flat over the last year, while the S&amp;P average has been soaring.



There remain Tilray bulls, like fellow InvestorPlace contributor Faisal Humayan. He sees gradual legalization leading to <a href="https://investorplace.com/2024/04/the-3-most-undervalued-penny-stocks-to-buy-in-april-2024/">growing cash flow</a>. 



<h2>TLRY Stock: What Happens Next?</h2>



<a href="https://investorplace.com/industries/healthcare/cannabis/">Marijuana stocks</a> were hot in the last decade as investors had to scrounge for good stories. Tilray has gotten through the slump on beer, and that may be a better business.



On the date of publication, Dana Blankenhorn did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div><a href="http://www.danablankenhorn.com/">Dana Blankenhorn</a> has been a financial and technology journalist since 1978. He is the author of <a href="https://www.amazon.com/Technologys-Big-Bang-Yesterday-Tomorrow-ebook/dp/B0829C7XSF">Technology&rsquo;s Big Bang: Yesterday, Today and Tomorrow with Moore&rsquo;s Law</a>, available at the Amazon Kindle store. Tweet him at <a href="http://www.twitter.com/danablankenhorn">@danablankenhorn</a>, connect with him on <a href="https://journa.host/@DanaBlankenhorn"> Mastodon</a> or subscribe to his <a href="https://danafblankenhorn.substack.com/">Substack</a>.</div><h3>More From InvestorPlace</h3>
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