Carlsberg Stock (OTC:CABGY), Trade Ideas

CARLSBERG AS

Carlsberg is the fourth-largest brewer in the world following the combination of Anheuser-Busch InBev and SABMiller, with major operations in Europe and Asia. It holds leading share in Scandinavia, Switzerland, Portugal, Laos, Nepal, and parts of western China. Its key brands include Carlsberg, 1664, Tuborg, Holsten, and Somersby. The company's 2023 beverage volume, excluding Russia, was split among Northern and Western Europe (35%), Eastern Europe (26%), and Asia (39%).

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Anheuser-Busch InBev SA (NYSE: BUD) has reportedly reached an agreement to transfer its stake in a Russian joint venture to its Turkish partner, Anadolu Efes.

Budweiser Parent AB InBev Exits Russia, Hands Over Joint Venture To Turkish Partner: Report

Carlsberg AS (OTC: CABGY) has announced the 

Brewing Tensions: Carlsberg Cuts Ties With Baltika Amid Russian Takeover

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Russia Is Seizing European Company Assets — What US Businesses Are Still At Risk?

CARLSBERG AS SP/ADR REP B by Carlsberg AS

Carlsberg A/S

Anheuser-Busch InBev&nbsp;SA&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) has reportedly reached an agreement to transfer its stake in a Russian joint venture to its Turkish partner, Anadolu Efes.
This move marks one of the final notable European divestments in Russia amidst ongoing geopolitical tensions. Anadolu Efes will gain full ownership of the business, reported&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2023-12-19/ab-inbev-sells-stake-in-russian-venture-to-turkish-partner?srnd=industries-consumer&amp;sref=TBDibEcD" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Bloomberg</a>.
AB InBev will not receive immediate payment, instead, future compensation will be contingent on the venture&#39;s performance. The report further noted the transaction is valued between $1.1 billion and $1.3 billion, as estimated by KPMG for Anadolu Efes.
The decision to divest comes after AB InBev&#39;s announcement last year to sell the stake, resulting in a $1.1 billion writedown, aligning with a broader trend where global corporations have been withdrawing operations from Russia following the country&#39;s invasion of Ukraine.
Many European companies have exited the Russian market, with some selling their businesses and others facing unilateral seizures by the Russian government.
Notably, in July, Russia took control of Baltika, the local unit of&nbsp;Carlsberg A/S&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cabgy#OTC">CABGY</a>), under a presidential<a href="https://www.benzinga.com/markets/equities/23/10/35092602/brewing-tensions-carlsberg-cuts-ties-with-baltika-amid-russian-takeover"> decree targeting entities from unfriendly nations.</a>
In a related development,&nbsp;Heineken N.V.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/heiny#OTC">HEINY</a>) sold its Russian business to a local entity in August, leading to a loss of&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/34039199/cheers-to-no-cheers-heineken-closes-russian-operations-takes-300m-loss" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">approximately &euro;300 million for Heineken.&nbsp;</a>
Price Action: BUD shares are trading higher by 0.30% at $63.04 in premarket on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Carlsberg AS&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cabgy#OTC">CABGY</a>) has announced the&nbsp;<a class="editor-rtfLink" href="https://www.carlsberggroup.com/newsroom/carlsberg-group-terminates-license-agreements-in-russia/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">termination&nbsp;</a>of its license agreements with Baltika Breweries, effectively ending Baltika&#39;s authorization to produce, market, and sell all products under the Carlsberg brand in Russia.&nbsp;
This decisive move comes in response to the Russian government&#39;s temporary seizure of Baltika&#39;s management, following a presidential decree issued on July 16, 2023.
The termination of the license agreements signifies Carlsberg&#39;s staunch refusal to comply with what it views as an<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/03/26316818/beer-maker-heineken-decides-to-exit-russia" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;illegitimate takeover of its business operations in Russia.&nbsp;</a>
Baltika is granted a limited run-off period until April 1, 2024, to utilize existing stock and materials. However, Carlsberg has made it clear that it sees no avenue for a negotiated exit from Russia under the current circumstances.
Protecting Interests Amid Uncertainty
Carlsberg is actively exploring all available&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/money/best-options-to-buy-this-week/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">options</a>, including legal measures, to safeguard its employees, assets, and operations in Russia. The future of Baltika remains uncertain, as the Danish brewer retains ownership of the company&#39;s shares, even though its management has been temporarily transferred to the Russian state.&nbsp;
Financial Implications
In light of these developments, Carlsberg has decided to fully impair the value of its business in Russia. This impairment will be recognized in other comprehensive income in the full-year accounts and will not impact the income statement.&nbsp;
Price Action:&nbsp;CABGY shares traded higher by 1.95% at $25.82 on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

In recent months, Russia began seizing assets from companies <a href="https://www.benzinga.com/topic/russia">based in Western countries</a>.
The most recent development came last week, when the Russian government seized the local operations of two of the world's largest consumer packaged goods manufacturers.
Assets belonging to French dairy product giant Danone (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DANOY#OTC">DANOY</a>) and behemoth brewer Carlsberg (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CABGY#OTC">CABGY</a>) were temporarily placed under control of Russia's Federal Agency for State Property Management, <a href="https://www.wsj.com/articles/russia-steps-up-economic-war-with-west-seizing-assets-of-big-conglomerates-e592f137">reported</a> the WSJ.
The seizures were made possible after an April decree authorized the seizing of assets belonging to companies from states &#8220;unfriendly and contrary to international law.&#8221;
Straight after Russian head of state Vladimir Putin signed the April decree, Russia took over assets from two European companies: The Russian arm of German state-owned energy firm Uniper SE and assets of Finland's state-owned energy firm Fortum Oyj.
&#8220;The decree does not concern ownership issues and does not deprive owners of their assets,&#8221; wrote Russian News Agency TASS. The move came as an apparent retaliation to similar measures by European countries. 
In September, <a href="https://www.benzinga.com/government/22/09/28894399/germany-takes-rosnefts-subsidiary-under-state-control">Germany seized the local refinery of Russian oil giant Rosneft PJSC</a>.&nbsp;
After the February 2022 invasion of Ukraine by Russian forces, the European Union froze over 200 billion euros ($221.5 billion) in assets from Russia's central bank. Last month, a summit of EU leaders was looking into ways it can route these assets to Ukraine's reconstruction efforts, reported Reuters.
<h3 class="wp-block-heading">US Companies Stuck Behind Enemy Lines</h3>
Recent Russian and European asset seizures are an economic escalation of the war on Ukrainian soil. With the latest round of seizures, Russia is further cementing its position as a "pariah" state. This has led many foreign-based companies to begin planning their escape routes in an effort to reduce the risk associated with having operations in Russia and mitigate possible losses of a higher order.
According to a <a href="https://som.yale.edu/story/2022/over-1000-companies-have-curtailed-operations-russia-some-remain">report</a> by the Yale School of Management, at least 1,000 companies based outside of Russia have announced plans to either leave the country or significantly reduce their operations there.
The U.S. has the largest number of companies announcing plans to fully leave Russia. These represent 32% of the whole group.
Ford (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), McDonalds (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Delta Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>), United Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>), Starbucks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Uber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and Dell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) are just some of the American companies that have announced a full retreat from the country. 
Leaving Russia can be costly for foreign companies. As per a regulation set by Moscow in December, the Russian government will assess the value of assets for sale from foreign companies, and then oblige the company to sell them at a half-price discount, according to the WSJ. 
Many other U.S. companies continue to operate in Russia. All are facing the potential risk of having some or all of their Russian assets seized, as <a href="https://www.benzinga.com/markets/23/06/32835852/pentagon-just-announced-a-new-2-1-billion-arms-package-for-ukraine-here-are-2-big-defense-stocks-poi">lethal aid sent to Ukraine by the U.S. military</a> puts the U.S. on Putin's "unfriendly country" list. 
Cloudflare Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) and Tupperware Brands Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUP#NYSE">TUP</a>) continue to operate in Russia with business as usual, according to the Yale tracker. Other companies have announced minor measures, like reducing advertising or investment within the country, but continue to provide their services and products.&nbsp;
Consumer staple giants Procter &amp; Gamble Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) and Colgate-Palmolive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) published statements against the war on Ukraine but continue to operate in Russia. Ukrainian newspaper Ukrainska Pravda <a href="https://www.pravda.com.ua/eng/articles/2022/12/21/7381668/">condemned the actions</a>, saying that continuing operations in the country supports the Russian government by providing it with tax revenues. 
Kimberly Clark Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>) suspended new investments in Russia. Approximately 3% of the company's revenue comes from the Eurasian country.
Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) suspended non-essential activities in the country but continues operations. Pfizer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and Merck (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) continue operations but have suspended new investment and clinical trials. Johnson and Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) has suspended patient enrollment in clinical trials while Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) has suspended clinical trials.
Other companies are already scaling back, with a proverbial foot out the door, though reducing operations can prove to be very costly.
Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) said it is exploring strategic alternatives while stopping a new investment plan of $150 million. The company has paused marketing efforts and canceled product launches.
The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) has suspended certain operations but continues to operate some chains within Russia. PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) has suspended all but their essential operations while Kellogg's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) has suspended operations except for essential products.
General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) has stopped sales of everything but medical equipment in Russia while Whirlpool (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) has limited its production. John Deere (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>), which gets 4% of its revenue from Russia, has suspended exports to the country.
Many other companies have suspended all operations. FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) and UPS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) have stopped all shipments to Russia. Burger King, a subsidiary of Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>), has stopped corporate support for its over 800 Russian franchises, which account for under 2% of the company's EBITDA.
Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Micron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) and Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have suspended sales to Russia.
Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), which gets approximately $7 billion of its $385 billion in revenue from Russia, has suspended all official site sales and shut down selected apps and services.
Shutterstock image.

<ul>
<li>Carlsberg A/S&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cabgy#OTC">CABGY</a>) Chief Executive Officer&nbsp;<a class="editor-rtfLink" href="https://www.carlsberggroup.com/newsroom/ceo-cees-t-hart-has-decided-to-retire/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Cees &#39;t Hart is set to retire</a>&nbsp;after eight years in the role.</li>
<li>He will leave&nbsp;Carlsberg by the end of Q3 2023 at the latest.</li>
<li>&quot;Under his leadership, the Group has navigated significant challenges, including the difficult COVID-19 years, the war in Ukraine and the ongoing sale of the Russian business,&quot; said Chair of the Supervisory Board Henrik Poulsen.</li>
<li>Carlsberg said a search for Hart&#39;s successor is ongoing and plans to make a further announcement in due course.</li>
<li>In February, Carlsberg said 2023 will be a&nbsp;<a class="editor-rtfLink" href="https://www.carlsberggroup.com/newsroom/fy-2022-financial-statement/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">challenging&nbsp;</a>year as commodity and energy price increases will have a significant impact on cost of sales and logistics costs.</li>
<li>It also warned that the development of the war in Ukraine and the impact on its business remain highly uncertain.</li>
<li>Carlsberg then said it expected organic operating profit development of -5% - +5%</li>
<li>Price Action: CABGY shares closed lower by 0.62% at $28.90 on Monday.</li>
<li>Photo Via Company</li>
</ul>

Management

Danish Brewer Carlsberg's CEO Reveals Retirement Plan

<ul>
<li>Brewing Giant, Heineken NV&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/heiny#OTC">HEINY</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/03/tr26315378/heineken-n-v-announces-decision-to-leave-russia" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">decided to exit its Russian business</a>. The company expects an impairment and other non-cash exceptional charges of &euro;0.4 billion (~$439 million) in total.</li>
<li>The company has previously said it would halt only new investments and exports to the country.</li>
<li>&quot;Following the previously announced strategic review of our operations, we have concluded that HEINEKEN&rsquo;s ownership of the business in Russia is no longer sustainable nor viable in the current environment,&quot; the company said in a statement.</li>
<li>Heineken has assured to pay the salaries of 1,800 employees till the end of 2022.</li>
<li>The Dutch company follows a slew of global corporations halting their operations in Russia following the country&rsquo;s invasion of Ukraine.</li>
<li>The exit is likely to put pressure on its Danish rival,&nbsp;Carlsberg A/S&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cabgy#OTC">CABGY</a>) which owns Russia&#39;s biggest brewer, Baltika,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/heineken-exit-its-russian-operations-2022-03-28/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Reuters reported</a>.</li>
<li>Price Action:&nbsp;HEINY shares closed lower by 0.24% at $48.15 on Friday.</li>
<li>Photo by suLee via Pixabay</li>
</ul>

Beer Maker Heineken Decides To Exit Russia

Russia&#39;s invasion of Ukraine has mobilized the world against the former&#39;s unilateral actions, and the developments in Eastern Europe are seen as disrupting the world order and its peace. Top executives of some U.S. corporations have chimed in with their views and reactions to the crisis.
Apple&#39;s Cook Is &quot;Deeply Concerned:&quot; Apple, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) CEO Tim Cook has expressed his deep concern over the situation in Ukraine. He also suggested that the company is doing all that it can to support its teams there and the local humanitarian efforts. Cook also called for peace in the region.
Incidentally, Ukraine&#39;s Deputy Minister Mykhailo Fedorov urged Cook to stop supplying Apple services and products to the Russian Federation and also called for blocking access to the App Store. Fedorov said he believes the actions will motivate youth and tech-savvy citizens in Russia to proactively voice their opinion against the aggression.
Musk&#39;s Double-Quick Response: When Fedorov, who is also Ukraine&#39;s Minister of Digital Transformation, requested Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk through twitter to<a href=" https://www.benzinga.com/news/22/02/25859022/ukrainian-official-asks-elon-musk-for-starlink-satellites-to-maintain-internet-amid-invasion"> provide&nbsp;the nation with Starlink stations, </a> the latter responded swiftly, winning many fans on internet. Musk said in a reply tweet, &quot;Starlink service is now active in Ukraine,&quot; and went on to add, &quot;more terminals en route.&quot;
<blockquote class="twitter-tweet">Starlink service is now active in Ukraine. More terminals en route.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1497701484003213317?ref_src=twsrc%5Etfw">February 26, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Meta Announces Series Of Measures: Facebook parent Meta Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fb#NASDAQ">FB</a>), meanwhile, has announced measures it is resorting to protect people on its platform in Ukraine. Nathaniel Gleicher, Head of Security Policy at Meta, said on Twitter that the company is prohibiting Russian state media from running ads or monetizing on the social media platform anywhere in the world. The company is continuing to apply labels to additional Russian state media.
Meta said in a post it has added safety features in Ukraine, including the ability for people to lock their Facebook profile, remove the ability to view and search friends lists, and additional tools on Messenger.
&quot;We are taking extensive steps to fight the spread of misinformation on our services and continuing to consult with outside experts, the company said.
Russia, meanwhile, said on Friday that it was partially limiting access to Facebook and accused the platform of censoring Russian media.
Related Link: <a href=" https://www.benzinga.com/news/22/02/25756150/10-s-p-500-stocks-with-highest-revenue-exposure-to-russia-ukraine"> 10 S&amp;P 500 Stocks With Highest Revenue Exposure To Russia, Ukraine</a>
Virgin&#39;s Branson Comes Down Hard On Putin: British business magnate and the founder of the Virgin Group, which owns Virgin Galactic Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>), called for the &quot;strongest of responses,&quot; to the Russian aggression and a full range of sanctions.
&quot;To be perfectly clear, this war is Putin&#39;s war, and his choice alone. It&#39;s a unilateral, unprovoked act of aggression,&quot; Branson said in a blog post.
Twitter Chirps Safety Tips: Microblogging platform Twitter, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twtr#NYSE">TWTR</a>) through its Twitter Support handle has said the platform is restricted for some people in Russia. It also said it is working to keep its service safe and accessible. The company sent out tips for users on <a href=" https://twitter.com/TwitterSafety/status/1496698664747687942"> how to control their accounts </a>and digital information.
Companies Halt Local Operations: Some multinational corporations have temporarily shuttered operations in Ukraine, keeping in mind the safety of employees, Bloomberg reported. Among the ones that have confirmed temporary disruptions are: Philip Morris International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pm#NYSE">PM</a>), Mondelez International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdlz#NASDAQ">MDLZ</a>),&nbsp;Restaurant Brands International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qsr#NYSE">QSR</a>),&nbsp;Carlsberg A/S (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cabgy#OTC">CABGY</a>), and&nbsp;Nestl&eacute; S.A. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/nsrgy#OTC">NSRGY</a>)
Related Link: <a href=" https://www.benzinga.com/analyst-ratings/analyst-color/22/02/25841251/how-to-navigate-the-ukraine-crisis-induced-market-chaos"> How To Navigate The Ukraine Crisis-Induced Market Chaos</a>
Photo: Courtesy of&nbsp;<a href="https://www.flickr.com/photos/garryknight/" id="yui_3_16_0_1_1645792485323_540336" title="Go to Garry Knight's photostream">Garry Knight</a>&nbsp;on Flickr

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How Apple, Tesla, Meta And Other Companies Respond to Russia's Aggression Against Ukraine

Goldman Sachs analyst Olivier Nicolai initiates coverage on Carlsberg (OTC:<a class="ticker" href="/stock/CABGY#OTC">CABGY</a>) with a Sell rating.

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Goldman Sachs Initiates Coverage On Carlsberg with Sell Rating

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ARBV

ARES

ASAZF

ASAZY

ASHTY

ASPN

ASYS

ATCMF

ATVI

AUDC

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