Molson Coors Beverage Co
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Consumer Staples : Beverages | Mid Cap Value
Company profile

Molson Coors Beverage Company is a holding company. It is engaged in brewing beverages. The Company operates through two segments: Americas and EMEA&APAC. The Americas segment consists of the production, marketing, and sales of its brands and other owned and licensed brands in the United States, Canada, and various countries in Latin and South America. It also has contract brewing agreements to brew, package and ship products. The EMEA&APAC segment consists of the production, marketing, and sales of its brands as well as several smaller regional brands in the United Kingdom, Central Europe, and various other European countries, along with certain countries within the Middle East, Africa, and the Asia Pacific. It also has licensing agreements and distribution agreements with various other brewers. The Company's brands include Blue Moon, Carling, Coors Banquet, Coors Light, Miller Lite, Leinenkugel’s Summer Shandy, Creemore Springs, Hop Valley and more.

Closing Price
$56.71
Day's Change
0.01 (0.02%)
Bid
--
Ask
--
B/A Size
--
Day's High
57.06
Day's Low
56.11
Volume
(Light)
Volume:
1,078,323

10-day average volume:
1,992,967
1,078,323

Snap's profit warning shouldn't be taken out of context, says ad industry expert

2:10 pm ET June 9, 2022 (MarketWatch)
Print

By James Rogers

'A company that has a shortfall in the tens of millions should not be causing market capitalization in the hundreds of billions to plummet'

Snap Inc.'s recent profit warning, which sparked a selloff in tech stocks, should not be taken out of context, according to an advertising industry expert.

The Snapchat parent (SNAP) sent ripples through internet and social media stocks last month when it warned that second-quarter revenue and earnings will likely come in below prior estimates.

The Santa Monica, Calif.-based firm cited a deteriorating economy for its warning, sending its shares tumbling. Shares of tech companies dependent on advertising, such as Alphabet Inc. (GOOGL), Meta Platforms Inc. (META), Pinterest Inc. (PINS), and Twitter Inc. (TWTR) also fell in the wake of the profit warning.

See now:Snap's warning of a weaker outlook sends ripples through tech stocksHowever, Snap is far from reflective of the overall market, according to Brian Wieser, global president of business intelligence at media agency GroupM.

"A company that has a shortfall in the tens of millions should not be causing market capitalization in the hundreds of billions to plummet," he said.

Wieser believes that, fueled by rapid growth during the pandemic, Snap's projections had been unrealistic.

"Too many media owners believe there was no limit to how much they can grow except for their ambition," he said. "The problem is that these ambitions run into reality ... you can't grow faster than the economy forever, unless you become the economy."

Buoyed by strong revenue and user growth last year, Snap shares rose to reach a 52-week high of $83.34 on Sep. 24, 2021. However, the company's shares have fallen more than 69% this year and were trading at $14.55 on Thursday. The Nasdaq has declined more than 23% this year.

"There are risks," he said, noting JPMorgan Chase & Co. CEO Jamie Dimon's recent warning that an economic "hurricane" is looming. Speaking at an investor conference last week Dimon said it's not yet clear whether the "hurricane" is a minor storm or a "superstorm."

While inflationary pressures have been weighing on the economy for months, Dimon also cited concerns about the impact of the war in Ukraine on commodity prices, warning that oil prices could surpass $150a barrel.

See now:JPMorgan's Jamie Dimon sees economic 'hurricane' coming: 'Better brace yourself'

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(END) Dow Jones Newswires

June 09, 2022 14:10 ET (18:10 GMT)

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