After days like yesterday, talk to most traders and they're likely to say, "I need a drink." Apparently, that's exactly what they've been doing. This morning, Anheuser-Busch issued a press release with the following headline:
Interestingly, while Anheuser-Busch (BUD) is reporting stronger than expected results, the company which is set to acquire it, InBev, came out today and warned that margins would be hurt due to higher worldwide costs. At least BUD shareholders are being paid by InBev in cash.
Hey! Maybe it's not that drinking is on the rise. It might be that drinking CHEAP AMERICAN BEER is on the rise.
My guess is that Stella and other high priced beers are feeling the pinch, and not just on the cost side. I can't imagine what expensive wines are doing.
Posted by: Don | October 03, 2008 at 02:40 PM