Beverage Stocks to Watch: (ABV), (DEO), (TAP)
Category: Investment, Beverage
Point Roberts, WA - February 28, 2013 (www.investorideas.com newswire, www.beveragestocks.com) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on wine and beverage stocks trading for February 28th, 2013.
Companhia de Bebidas Das Americas (NYSE:ABV) trading at $44.50 gained $0.63 or 1.44% on a high volume of 3,276,699 shares, making it today's top beverage stock to watch.
Brazilian beer giant, Companhia de Bebidas das America, also known as AmBev, reported robust fourth-quarter 2012 normalized earnings of R$1.19 per share, substantially beating the prior-year quarter's earnings of R$0.98 a share by 22.2%. The results were primarily driven by solid top-line performance, improved margins and lower tax rate.
In the U.S. dollar terms, earnings came at 58 cents per share, surpassing the Zacks Consensus Estimate of 35 cents per share.
Reported net sales increased 21.0% to R$10.13 billion compared with R$8.38 billion in the prior-year quarter. The increase in revenues was primarily attributable to a 3.2% rise in volumes across all regions.
Diageo plc (NYSE:DEO) trading at $119.97 gained $1.45 or 1.22% on a volume of 279,523 shares.
The company known for such major brands as Johnnie Walker Scotch whisky, Crown Royal Canadian whisky, Buchanan's Scotch whisky, Smirnoff vodka, Captain Morgan rum and rum based products, Baileys Irish Cream liqueur, Jose Cuervo tequila, Tanqueray gin, Gordon's gin and vodka, Harp lager, Sterling Vineyards and more continues it's year long rise, (as shown below).
Molson Coors Brewing Company (NYSE:TAP) trading at $44.21 lowered by $-0.26 or -0.58% on a volume of 1,167,823 shares.
Miller Brewing Company announced earlier this week that it's aiming to end its Canadian licensing agreement with Molson Coors Canada this summer.
Molson Coors Canada has filed a suit in Ontario to prevent the move but Miller gave the required six-month notification in January and it expects the termination to take effect on July 22.
Miller Brewing Co. is a subsidiary of SABMiller PLC, a multinational with its headquarters in the United Kingdom.
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