NEW YORK, NY / ACCESSWIRE / October 26, 2018 / Anheuser-Busch shares tumbled to a
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Anheuser-Busch InBev SA/NV
Anheuser-Busch InBev SA/NV shares closed down a little over 9% on Thursday with about 9.3 million shares traded. The stock hit a new low of $72.88, its lowest in six years. The company reported third quarter results and also announced it would be cutting its dividend in half. Chief Financial Officer Felipe Dutra spoke to reporters according to Reuters and said, "In the last six months, we've seen a lot of [currency] volatility. This scenario triggers some sort of uncertainty and at a certain point ... we thought it was the right time to adjust the dividend." For the quarter, the company's beer sales had fallen 1.5% to retailers and 0.5% to wholesalers. Bank of America analyst Paul Steegers reiterated an "underperform" rating on the stock and a price objective of $81.80 while Macquarie Research analyst Caroline Levy reiterated an "outperform" rating and a price target of $82.22. Morgan Stanley analyst Olivier Nicolai reiterated an "overweight" rating and a price target of $113.80.
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Groupon, Inc. shares closed up almost 3.5% yesterday on nearly 4.2 million shares traded. The company announced an inventory partnership with Peek, a platform that aims to make booking activities as seamless and straightforward as a restaurant or flight reservation. As part of the deal, thousands of Peek's bookable activities will come to Groupon’s marketplace. "We’re thrilled to partner with someone who shares our passion of helping people find amazing things to do near them or where they travel,” said Brian Fields, head of things to do, Groupon. “We’ve seen consumers, particularly millennials, gravitate towards experiences for a number of years. Peek’s bookable inventory will help us provide more choices and inspiration––as well as a great customer experience––for people looking to make that next great memory with their family and friends.” Groupon recently said that it would be holding a conference call to discuss its third quarter 2018 financial results on Wednesday, November 7, 2018, at
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