Boston Beer buzz kill: Shares down 11% (CNN)
It’s the morning after for America’s biggest micro brewer. Shares of the Boston Beer Co Inc (NYSE:SAM), maker of Samuel Adams and other craft beers, plunged nearly 11% Thursday. The hangover comes a day after Boston Beer Co Inc (NYSE:SAM) reported earnings that badly missed analysts’ expectations. Boston Beer Co Inc (NYSE:SAM) earned 51 cents per share in the first three months of 2013, down almost 9% from a year earlier and well below the 62 cents a share expected by analysts. Despite the drop in earnings, revenue rose 20% in the quarter as demand for cider and hard iced tea offset weakness in demand for the company’s flagship Sam Adams beer. Boston Beer Co Inc (NYSE:SAM) blamed the drop in earnings on increased spending on advertising and marketing, as well as higher costs for certain raw materials.
Key Energy Price Target Cut to $6.00 (KEG) (DailyPolitical)
Key Energy Services, Inc. (NYSE:KEG) had its price target decreased by Wunderlich from $9.00 to $6.00 in a research report sent to investors on Tuesday morning, Analyst Ratings.Net reports. The firm currently has a hold rating on the stock. Key Energy Services, Inc. (NYSE:KEG) opened at 5.61 on Tuesday. Key Energy has a 52-week low of $5.70 and a 52-week high of $14.26. The stock’s 50-day moving average is currently $7.75. The company has a market cap of $852.5 million and a price-to-earnings ratio of 243.91.Key Energy Services, Inc. (NYSE:KEG) has been the subject of a number of other recent research reports. Analysts at Barclays Capital cut their price target on shares of Key Energy Services, Inc. (NYSE:KEG) from $10.00 to $8.00 in a research note to investors on Monday.
Yes, Buffett Can Still Beat the Market on Berkshire Hathaway Inc. (NYSE:BRK.B)’s Behalf! (Fool)
On the back of yesterday’s drop, U.S. stocks opened higher this morning, with the S&P 500 (SNPINDEX: ^GSPC ) and the narrower, price-weighted Dow Jones Industrial Average (INDEXDJX:.DJI) gaining 0.44% and 0.39%, respectively, at 10:10 a.m. EDT. …If I had a dollar for every comment asserting at the end of a Berkshire Hathaway Inc. (NYSE:BRK.B) article that CEO Warren Buffett has lost his touch, I’d have a small fortune myself. Those opinions are an affront to reality when there is so much evidence to the contrary — and yesterday, Berkshire Hathaway Inc. (NYSE:BRK.B) supplied even more. On Wednesday, the candy-to-bricks conglomerate announced that it had acquired the remaining 20% of Israel-headquartered International Metalworking Companies — more commonly known by the name of its largest subsidiary, Iscar — for the sum of $2.05 billion.