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Anheuser-Busch InBev, the world's largest brewer, has agreed to sell its Australian operations to Japan's Asahi and is interested in reviving the stalled flotation of its Asian business. AB InBev said the bulk of the proceeds from the deal, expected to close in the first quarter of 2020, would be used to reduce debt. The sale comes only a week after AB InBev shelved an initial public offering (IPO) of its Asian operations, including Australia.
Anheuser-Busch InBev has agreed to offload its Australian operations to Japan’s Asahi in an $11.3bn deal as the world’s biggest brewer looks to cut its debt pile. The disposal of AB InBev’s Australian unit Carlton & United Breweries comes only a week after the beer giant abandoned its first attempt to list the Asian business after finding soft demand among investors who thought the valuation of between $54.2bn and $63.7bn was too high. The sale would help pay down some of the $106bn debt at the AB InBev, the home of brands including Budweiser, Stella Artois, Leffe and Brahma.
Anheuser-Busch InBev is considering selling off business units in South Korea, Australia and Central America, The Wall Street Journal reported. The brewer recently called off an IPO of its Asian business.
On Thursday, Philip Morris reported its second-quarter earnings results. It reported adjusted EPS of $1.46 on revenue of $7.70 billion.
Penn National Gaming (PENN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
MGM (MGM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Boston Beer (SAM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Las Vegas Sands' (LVS) top line in second-quarter 2019 is likely to gain from robust performance of the company's Las Vegas operations, Marine Bay Sands, Sand Cotai Central and Venetian Macao segments.
Philip Morris' (PM) Q2 results gain from growth in heated tobacco units and favorable pricing. However, decline in cigarette shipment volumes were a drag.
Philip Morris International beats second-quarter earnings and revenue estimates and hikes its full-year forecast as its new tobacco products gain momentum.
Philip Morris (PM) delivered earnings and revenue surprises of 9.77% and 4.72%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Investing.com - Philip Morris (NYSE:PM) reported second quarter earnings that beat analysts' expectations on Thursday and revenue that topped forecasts.
If completed, they would help speed deleveraging at the world’s biggest brewer, the home of brands including Budweiser, Stella Artois, Leffe and Brahma. AB InBev can also pay down debt simply from the cash generated from selling one of every four beers drunk worldwide.
Philip Morris International, the company behind Marlboro, is to spend another $100m this year developing its alternative to traditional cigarettes as a global marketing drive intensifies to convert smokers to a new generation of products. Martin King, chief financial officer, said on Thursday that extra funds would be deployed to accelerate innovation of the company’s IQOS product — a cigarette-like device that heats, rather than burns, tobacco. of IQOS in the US, are the latest sign of big tobacco ramping up investment to safeguard the industry’s future.