MillerCoors -- a joint venture between SABMiller and Molson Coors (TAP) -- last week announced that it has launched a new corporate division intended to focus on the company's craft and import beer business. This business (which is a rather solid performer) includes brews Blue Moon, Peroni Nastro Azurro, and Leinenkugel's.

The new unit is named Tenth and Blake Beer, after the streets where MillerCoors' breweries are located in Milwaukee and Denver. Tom Cardella, who was appointed president and chief executive officer of Tenth and Blake noted, "You are seeing a tremendous amount of consumers gravitating to craft beer.... Consumers are being more discerning about beer."

Continue reading MillerCoors Launches New Craft Beer Division

MillerCoors Launches New Craft Beer Division originally appeared on BloggingStocks on Thu, 26 Aug 2010 10:00:00 EST. Please see our terms for use of feeds.

Continue reading Molson Coors Brews Up a Strong Second Quarter

Molson Coors Brews Up a Strong Second Quarter originally appeared on BloggingStocks on Tue, 03 Aug 2010 09:30:00 EST. Please see our terms for use of feeds.

Continue reading As economy flounders, people still drink beer

As economy flounders, people still drink beer originally appeared on BloggingStocks on Thu, 04 Jun 2009 17:00:00 EST. Please see our terms for use of feeds.

With a turn of the calendar page, we drift into the middle portion of the current quarter, but the earnings season rolls on. Among the many companies scheduled to report quarterly results this coming week are Time Warner Inc. (NYSE: TWX), Cisco Systems Inc. (NASDAQ: CSCO), News Corp. (NYSE: NWS), and Whole Foods Market International (NASDAQ: WFMI). Let's take a look at which companies Wall Street analysts are expecting to be among the top earnings gainers and decliners this week.

Analysts surveyed by Thomson Financial expect the following to report strong earnings growth when compared to the same period of the previous year.

• DRS Technologies Inc. (NYSE: DRS): $0.85 EPS (+95.3%) on revenue of $823.8 million (+12.0%)
• Integrys Energy Group Inc. (NYSE: TEG): $0.40 EPS (+70.0%) on revenue of $2.6 billion (+9.7%)
• Cimarex Energy Co. (NYSE: XEC): $2.53 EPS (+64.4%) on revenue of $599.9 million (+75.4%)
• Forest Oil Corp. (NYSE: FST): $1.51 EPS (+55.6%) on revenue of $456.1 million (+79.1%)
• Devon Energy Corp. (NYSE: DVN): $3.28 EPS (+48.5%) on revenue of $4.1 billion (+38.5%)
• CMS Energy Corp. (NYSE: CMS): $0.13 EPS (+46.2%) on revenue of $1.4 billion (+6.7%)
• Transocean Inc. (NYSE: RIG): $3.23 EPS (+43.0%) on revenue of $3.1 billion (+112.9%)
• Sara Lee Corp. (NYSE: SLE): $0.26 EPS (+38.5%) on revenue of $3.5 billion (+8.9%)
• Williams Companies Inc. (NYSE: WMB): $0.69 EPS (+37.7%) on revenue of $3.4 billion (+20.0%)
• Harris Corp. (NYSE: HRS): $0.99 EPS (+28.3%) on revenue of $1.4 billion (+18.0%)

Continue reading The week in preview: Expectations remain high for energy and oil

The week in preview: Expectations remain high for energy and oil originally appeared on BloggingStocks on Sun, 03 Aug 2008 12:30:00 EST. Please see our terms for use of feeds.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Activision Inc. (NASDAQ: ATVI) posted stellar results on the popularity of Guitar Hero and Transformers.
• Airgas Inc. (NYSE: ARG) beat Q4 estimtates with record earnings and raised its guidance.
• Amkor Technology Inc. (NASDAQ: AMKR) beat Q1 expectations on strong demand for wireless.
• Anadarko Petroleum Corp. (NYSE: APC) reported strong Q1 results that beat Wall Street estimates.
• Barnes Group Inc. (NYSE: B) beat Q1 expectations on its "global reach" and raised its 2008 guidance.
• Coinstar Inc. (NASDAQ: CSTR) beat Q1 expectations and raised its full-year guidance.
• DirecTV Group Inc. (NASDAQ: DTV) posted better-than-expected results and announced share buybacks.
• Double-Take Software (NASDAQ: DBTK) beat Q1 expectations and raised its Q2 and 2008 guidance.
• Goldcorp Inc. (NYSE: GG) profits surged in the first quarter on record high gold prices.
• ICON plc (NASDAQ: ICLR) beat Q1 expectations and raised its full-year guidance.
• Marvel Entertainment Inc. (NYSE: MVL) easily beat Q1 estimates and raised its full-year guidance.
• Molson Coors Brewing Co. (NYSE: TAP) reported a surge in Q1 profits that beat Wall Street estimates.
• Panera Bread Co. (NASDAQ: PNRA) beat Q1 expectations and lifted its Q2 and 2008 forecasts.
• Symantec Corp. (NASDAQ: SYMC) beat Q4 expectations and raised its Q1 outlook.
• Transocean Inc. (NYSE: RIG) Q1 profits more than doubled due to soaring oil prices.
• Unilever (NYSE: UL) posted strong results, with revenues beating estimates for the first time in six years.
• UTStarcom Inc. (NASDAQ: UTSI) released a preliminary guidance well above expectations.
• Walt Disney Co. (NYSE: DIS) posted better-than-expected results on success of its theme parks.

Continue reading Earnings highlights: Anadarko, Disney, Coors, Unilever, Activision, Marvel and others

Earnings highlights: Anadarko, Disney, Coors, Unilever, Activision, Marvel and others originally appeared on BloggingStocks on Sat, 10 May 2008 09:40:00 EST. Please see our terms for use of feeds.

On Tuesday, Molson Coors Brewing Co. (NYSE: TAP) reported a surge in its first-quarter profit, while MGM Mirage Inc. NYSE: MGM) blamed a drop in first-quarter profits on an economy that's discouraging consumer spending.

Denver-based Molson Coors, one of the world's largest brewers, said net income for the quarter that ended March 30 totaled $37.1 million, or 20 cents per share, compared with $4.4 million, or 3 cents per share, in the year-ago quarter. Excluding a charge related to a joint venture, the company earned 32 cents per share. Net sales after excise taxes rose 10% to $1.36 billion. Analysts polled by Thomson Financial predicted a profit of 28 cents on net sales of $1.31 billion.

Molson Coors shares rose $3.94, or 7.4%, to $57.10 in afternoon trading after rising to a 52-week high of $57.74 earlier in the day.

Las Vegas-based MGM Mirage said earnings fell 30% to $118.3 million, or 40 cents per share, compared with the same quarter a year ago. Revenue for the world's second-largest casino company slipped 3% to $1.88 billion, and fell short of expectations of analysts surveyed by Thomson Financial. They had forecast net income of 43 cents per share on revenue of $1.9 billion.

MGM shares rose 6.6%, or $3.23, to $51.85 in trading Tuesday, but fell to $51.60 in after-hours trading.

While these results may suggest that consumers are spending their increasingly scarce entertainment dollars closer to home, its worth noting that Walt Disney Co. (NYSE: DIS) Tuesday reported a 22% rise in its Q2 net profit.

Visit AOL Money & Finance for more earnings coverage.

Molson Coors Q1 profits surge, MGM Mirage Q1 profits tumble originally appeared on BloggingStocks on Tue, 06 May 2008 19:10:00 EST. Please see our terms for use of feeds.

Among companies reporting earnings on Tuesday were Molson Coors Brewing Company (NYSE: TAP), who's fourth-quarter earnings soared 75%, and Wyndham Worldwide Corp. (NYSE: WYN), who's fourth-quarter profit climbed 13%.

Molson Coors also reported that sales rose 5% and that it garnered additional savings from its 2005 merger with Adolph Coors Co. The company also credited a tax benefit and favorable exchange rates for the good results.

For the quarter that ended December 30, net income totaled $173.2 million, or 95 cents per share, compared with $99.2 million, or 57 cents a share, in the year-ago quarter. Excluding special items, net income was 73 cents per share, beating an estimate of 65 cents a share from analysts surveyed by Thomson Financial.

Revenue grew in the quarter to $1.6 billion, slightly higher than analyst expectations of $1.55 billion. For the year, revenue totaled $6.2 billion, up from $5.8 billion in 2006. Full year net income totaled $497.2 million, or $2.74 per share, up from $361 million, or $2.08 a share in the previous year.

Molson Coors shares rose almost 10% today, to $49.66.

Continue reading Molson Coors and Wyndham report profitable fourth quarters

Molson Coors and Wyndham report profitable fourth quarters originally appeared on BloggingStocks on Tue, 12 Feb 2008 18:58:00 EST. Please see our terms for use of feeds.

With earnings report rolling out one after another, there's hardly time to pause to enjoy a burger and a beer. Among companies reporting next week are Burger King Holdings Inc. (NYSE: BKC) and Molson Coors Brewing Co. (NYSE: TAP), and here are a quickie earnings previews for them.

Burger King has beat Wall Street earnings estimates for the past four quarters. When it reported fourth quarter 2007 results back in August, earnings were 29 cents per share, beating Wall Street estimates by two cents, and 11cents more than in the same period of the previous year. For the full year, earnings were $1.11 per share, again beating expectations by a pair of pennies. For the current quarter, analysts surveyed by Thomson Financial are expecting 33 cents per share.

The most recent analysts' consensus recommendation is to buy BKC, and has been for the past year. The share price has been climbing since the slump after excitement of the IPO wore off, and it reached a 52-week high of $27.73 at the close on Friday.

For news about Burger King and its rivals that could influence Burger King's results, check out BloggingStocks' Burger King coverage.

Continue reading Earnings previews: Burger King (BKC) and Molson Coors (TAP)

Earnings previews: Burger King (BKC) and Molson Coors (TAP) originally appeared on BloggingStocks on Sun, 04 Nov 2007 15:10:00 EST. Please see our terms for use of feeds.

In an effort to fight back against shifting consumer trends to spirits and wine, the Wall Street Journal reported that Coors Brewing Co. (NYSE: TAP) has created a new subsidiary to "introduce above-premium beers to the marketplace," according to an email sent to beer wholesalers last week.

The move comes at a time when the American beer business is facing considerable headwinds, including slower growth due to upscale "craft" beers and a strong push for market share by imports. Anheuser-Busch Cos. (NYSE: BUD), the largest American beer maker, and SABMiller PLC's (NYSE: SAB) Miller Brewing Co., the second-largest, have already introduced new beverages to combat these headwinds.

Continue reading Molson Coors (TAP) to brew new high-end beer

Molson Coors (TAP) to brew new high-end beer originally appeared on BloggingStocks on Thu, 30 Aug 2007 17:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Matrix upgraded Marvel Entertainment (NYSE: MVL) to Buy from Hold as they don't think the company's improving performance is reflected in its falling stock price. They think Marvel represents a good entry point at current levels.

• Kevin Dann upgraded shares of AutoZone (NYSE: AZO) to Buy from Hold on valuation and highlighted their belief that AutoZone may not be seeing as much sales weakness as investors expect. They recommend taking advantage of the recent share weakness and raised their target to $135 from $125.

• Gabelli recommends Home Depot (NYSE: HD) as a long-term buy with a $43 target, upgraded shares from Hold, with the Supply division uncertainty now eliminated. They view the sale positively, even at the lower price.

• JP Morgan upgraded Molson Coors (NYSE: TAP) to Overweight from Neutral, and believes Molson will monetize its solid balance sheet and free-cash flow yield to benefit the shareholders. They also consider valuation to be attractive.

• Semtech (NASDAQ: SMTC) was upgraded to Outperform from Market Perform at William Blair following the strong Q2 report and outlook...

• Big Lots (NYSE: BIG) was upgraded to Market Outperform from Market Perform at Avondale.

• Longbow raised TTM Technologies (NASDAQ: TTMI) to Buy from Neutral.

• Breen Murray raised to Intevac (NASDAQ: IVAC) to Hold from Sell.

• Stifel upgraded Arch Capital (NASDAQ: ACGL) to Buy from Hold.

Analyst upgrades 8-29-07: AZO, HD, MVL and TAP originally appeared on BloggingStocks on Wed, 29 Aug 2007 10:36:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY

• BMO Capital upgraded JDSU (NASDAQ: JDSU) to Market Perform from Underperform based on valuation and good industry fundamentals.

• AG Edwards considers MasterCard (NYSE: MA) a defensive payments play, upgraded shares to Buy from Hold, and would use weakness to build positions in the stock.

• GlobalSanta Fe (NYSE: GSF) was upgraded at Bernstein to Market Perform from Underperform based on the merger with Transocean (RIG).

• Molson Coors (NYSE: TAP) was upgraded to Buy from Neutral at Goldman based on valuation and potential increased free cash flow in 2008.

• TRW Inc (NYSE: TRW) was upgraded to Buy from Sell at Goldman...

• Thomas Weisel raised Network Appliance (NASDAQ: NTAP) to Overweight from Market Weight.

• Suntrust upgraded Goodrich Petroleum (NYSE: GDP) to Neutral from Reduce.

• Fossil (NASDAQ: FOSL) was upgraded to Outperform from Market Perform at Piper Jaffray.

• Keybanc raised Macy's (NYSE: M) rating to Buy from Hold.

Analyst upgrades: JDSU, M, MA and TAP originally appeared on BloggingStocks on Wed, 15 Aug 2007 11:20:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Goldman downgraded shares of Continental Airlines, Inc (NYSE: CAL) to Neutral from Buy on valuation, higher oil prices and a weak domestic market.

• Goldman also downgraded Molson Coors Brewing Co (NYSE: TAP) to Neutral from Buy based on the increase in analyst estimates, valuation and the potential for margin pressure in the summer.

• BB&T cut Watsco, Inc (NYSE: WSO) to Hold from Buy based on valuation and catalysts that are already reflected in the share price.

• Roth Capital downgraded shares of K-V Pharmaceutical Co (NYSE: KV.A) to Hold from Buy, telling clients they have learned that Par Pharmaceuticals Cos (PRX) has launched generics of 50, 100 and 200mg Toprol-XL. The firm expects a material impact to KV's 100 and 200mg strength generics.

• Stifel expects investor enthusiasm regarding Progressive's Corp (NYSE: PGR) recapitalization plan to fade as underwriting fundamentals deteriorate and cut shares to Sell from Hold.

• Color Kinetics (NASDAQ: CLRK) was downgraded to Hold from Sell at Needham on valuation...

• Citigroup cut The Phoenix Co's (NYSE: PNX) to Hold from Buy.

• KeyBank downgraded Lubrizol Corp (NYSE: LZ) to Hold from Buy.

• Goldcorp Inc (NYSE: GG) and Freeport-McMoRan Copper & Gold Inc (NYSE: FCX) were downgraded to Market Perform from Outperform at BMO Capital.

• Susquehanna downgraded Build-A-Bear Workshop, Inc (NYSE: BBW) to Neutral from Positive.

Analyst downgrades 6-15-07: BBW, CAL, FCX, PGR and TAP originally appeared on BloggingStocks on Fri, 15 Jun 2007 11:10:00 EST. Please see our terms for use of feeds.