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Dernières nouvelles pour Molson Coors Beverage (NYSE:TAP) Stock

Molson Coors Beverage

Molson Coors owns well-known beer brands including Miller, Coors, Blue Moon, and Carling and ranks as the second-largest beer maker in both value and volume terms in the us, Canada, and the United Kingdom. Through licensing agreements, the firm also brews and distributes beer and hard seltzer under partner brands from Heineken, Anheuser-Busch InBev, Asahi, and Coca-Cola. The brewer uses independent distributors in the us, given the three-tier distribution requirements, while using a combination of distributors and an in-house sales team in Canada and Europe. North America remains its largest market, contributing over 80% of total revenue.

Molson Coors Beverage Company Class B Common Stock

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Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) will release its financial results on Oct. 10, 2024 before financial markets open and host a live conference call to discuss the results at 8:30 am ET the same day.
In July, Tilray reported fiscal fourth-quarter revenue of $229.882 million, up approximately 25% year-over-year. Cannabis net revenue increased&nbsp;12%&nbsp;to&nbsp;$71.9 million in the quarter, while beverage-alcohol net revenue jumped&nbsp;137%&nbsp;to&nbsp;$76.7 million for the period.
Irwin Simon, chairman and CEO of Tilray Brands <a href="https://www.benzinga.com/markets/cannabis/24/07/40023244/tilray-q4-earnings-revenue-eps-beat-as-cannabis-beverages-wellness-converge-on-a-global-scale-dr">said at the time</a> that the company is "leading the convergence of cannabis, beverages, and wellness on a global scale."
Simon has spoken at previous Benzinga cannabis events sharing valuable tips for businesses within the burgeoning industry. The upcoming two-day event, the 19th Benzinga Cannabis Capital Conference, returns to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/01101339/ccc-oct-24-banner__1_-2.gif" alt="" class="wp-image-574784" /></a></figure>
<a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic</a>, senior analyst at Zuanic &amp; Associates <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say">wrote in his post-earnings</a> analyst note that "TLRY should be a long-term holding in any global portfolio of cannabis stocks,&#8221; adding the company&#8217;s liquidity, large market cap and notable cash balance, plus assets, make it a &#8220;more credible&#8221; long-term investment.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40076821/tilray-ceo-on-future-of-cannabis-and-federal-rescheduling-we-did-not-sit-back-and-wait">Tilray CEO On Future Of Cannabis And Federal Rescheduling: &#8216;We Did Not Sit Back And Wait&#8217;</a>
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<h3 class="wp-block-heading">Recent Moves</h3>
In early September, Tilray <a href="https://www.benzinga.com/markets/cannabis/24/09/40690381/billion-dollar-cannabis-company-closes-acquisition-of-three-us-breweries-whats-next-for-tilray">closed on acquisitions</a> of four U.S. breweries from from Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>). The acquisitions of Hop Valley Brewing Company,Terrapin Beer Co., Revolver Brewing and <a href="https://www.benzinga.com/markets/cannabis/24/09/40852419/billion-dollar-marijuana-giant-buys-another-brewery-from-molson-coors-expands-great-lakes-footpr">Atwater Brewery</a>, bolstered the company's leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and top craft brewer in the Pacific Northwest and Georgia.
Meanwhile, Tilray did not neglect the cannabis side of its business.
In August, the company <a href="https://www.benzinga.com/markets/cannabis/24/08/40510926/tilray-is-not-giving-up-on-cannabis-ramps-up-its-canadian-portfolio-on-heels-of-buying-four-us-b">announced the release</a> of its latest small-batch flower strain, Milk &amp; Cookies, under its premium cannabis brand Broken Coast.
In addition to the launch of Redecan EU-GMP-certified medical <a href="https://www.benzinga.com/topic/australia">marijuana products in Australia,</a> Tilray also introduced a new line of hemp-derived Delta-9 THC <a href="https://www.benzinga.com/markets/cannabis/24/09/41009554/tilray-brands-launches-hemp-derived-delta-9-thc-drinks-in-key-u-s-markets">beverages across key U.S. markets in September</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40901036/tilray-acquires-23-8m-promissory-note-in-deal-with-double-diamond-on-heels-of-brewery-acquisitio">&nbsp;Tilray Acquires $23.8M Promissory Note In Deal With Double Diamond On Heels Of Brewery Acquisition</a></li>
</ul>
<h3 class="wp-block-heading">TLRY Price Action</h3>
Tilray's shares traded 0.8523% lower at $1.745 per share at the time of writing on Tuesday morning.

Cannabis

Earnings

News

TLRY

Billion-Dollar Cannabis Giant Tilray To Report Earnings, Here's What Investors Can Expect

Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) agreed to acquire a promissory note from Ontario-based Double Diamond Holdings Ltd (DDH) for $23.8 million, according to a regulatory filing.
DDH is a joint venture with Aphria Inc., Tilray's direct and wholly-owned subsidiary, in Aphria Diamond.
In return, Tilray issued 13,217,588 shares of its common stock at $0.0001 per share to DDH.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/17095856/ccc-oct-24-banner__1_-1-10.gif" alt="" class="wp-image-551931" /></a></figure>
The company said no underwriter took part in the offer and sale of the consideration shares, and no commission or other remuneration was paid or given directly or indirectly in connection with the deal.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Read Also:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say"> ‘Tilray Should Be A Long-Term Holding In Any Global Portfolio Of Cannabis Stocks,&#8217; Says Analyst</a>
<h3 class="wp-block-heading">Tilray's Craft Beer Business</h3>
The news comes on the heels of Tilray's announcement that it has completed the <a href="https://www.benzinga.com/markets/cannabis/24/08/40365052/billion-dollar-cannabis-firm-buys-a-brewery-four-actually-in-canadas-backyard">previously announced</a> acquisition of Atwater Brewery, from Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>). Atwater Brewery was one of four craft breweries Tillray previously said it would acquire. The medical cannabis giant acquired Hop Valley Brewing Company, Terrapin Beer Co., and Revolver Brewing, in early September.
The acquisition bolstered Tilray's leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia. Tilray is based in Canada.
Known for brands like SweetWater Brewing and Montauk Brewing Company, Tilray earlier said it expects a 30% growth in its <a href="https://www.benzinga.com/markets/cannabis/23/09/34579077/tilrays-beer-business-expands-nationally-starting-in-this-state">beer business from this acquisition.</a>
Irwin D. Simon, the company's chairman and CEO, praised the move. &#8220;This strategic acquisition creates additional growth opportunities for our global beverage business, which reinforces our commitment to enhancing shareholder value,&#8221; he said.
Price Action: Tilray&#8217;s shares traded 1.11%% higher at $1.8199 per share at the time of writing on Tuesday morning.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39539050/is-tilrays-2b-valuation-just-the-beginning-analyst-sees-10b-market-opportunity-initiates-coverag">Is Tilray Really Worth $2B? Analysts See Path To $10B Market Opportunity</a></li>
</ul>
Photo: Courtesy of Kindel Media by Pexels

Financing

Tilray Acquires $23.8M Promissory Note In Deal With Double Diamond On Heels Of Brewery Acquisition

Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) confirmed Thursday it has completed the <a href="https://www.benzinga.com/markets/cannabis/24/08/40365052/billion-dollar-cannabis-firm-buys-a-brewery-four-actually-in-canadas-backyard">previously announced</a> acquisition of Atwater Brewery, from Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>).
&#8220;Atwater Brewery is a renowned craft brewery with a rich history and a loyal following in Michigan," said Irwin D. Simon, chairman and chief executive officer of Tilray Brands. "This acquisition expands our reach in the Great Lakes region and further strengthens our position in the craft beer industry. We are excited to welcome Atwater Brewery to Tilray Brands and are committed to leveraging our expertise and resources to drive growth, expand distribution, and provide beer lovers with access to Atwater&#8217;s exceptional brews."
TD Securities acted as financial advisor, and DLA Piper LLP (US) acted as external legal counsel to Tilray Brands.
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out
The Atwater Brewery acquisition comes on the heels of finalized purchases of craft breweries Hop Valley Brewing Company, Terrapin Beer Co., and Revolver Brewing, also from Molson.
Over the last several months, Tilray, <a href="https://www.benzinga.com/markets/cannabis/24/06/39539050/is-tilrays-2b-valuation-just-the-beginning-analyst-sees-10b-market-opportunity-initiates-coverag" target="_blank" rel="noreferrer noopener">valued</a> at $2 billion, has been expanding its U.S. brewery business but is not giving up on cannabis. In August, it <a href="https://www.benzinga.com/markets/cannabis/24/08/40510926/tilray-is-not-giving-up-on-cannabis-ramps-up-its-canadian-portfolio-on-heels-of-buying-four-us-b">released its latest small-batch flower strain</a>, Milk &amp; Cookies, under its premium cannabis brand Broken Coast, and in September, it published the results of a study focused on cannabis as a potential treatment for pain management and <a href="https://www.benzinga.com/markets/cannabis/24/09/40774179/cannabinoid-treatment-significantly-reduces-fibromyalgia-pain-and-improves-quality-of-life-new-t">other fibromyalgia-associated symptoms</a>.
Moreover, the Canadian cannabis giant is also working on expanding its medical marijuana business globally and has <a href="https://www.benzinga.com/markets/cannabis/24/08/40325566/these-3-cannabis-companies-hold-cultivation-licenses-in-germany-a-1-8b-market-opportunity" target="_blank" rel="noreferrer noopener">already obtained a cultivation license</a> in Germany, whose market is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37896976/cannabis-stocks-set-to-dominate-germanys-new-market-a-surge-in-demand-meets-establi" target="_blank" rel="noreferrer noopener">projected</a> to reach a valuation of approximately €1.7 billion ($1.86 billion) by 2025​.
Tilray Brands' beverage portfolio includes famed craft beer, spirits and non-alcohol beverage brands such as SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy, Happy Flower CBD along with Canada&#8217;s top recreational cannabis and THC beverage brands Mollo and XMG.
Price Action: Tilray shares closed Thursday's market session 1.16% lower at $1.70 per share.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39539050/is-tilrays-2b-valuation-just-the-beginning-analyst-sees-10b-market-opportunity-initiates-coverag">Is Tilray Really Worth $2B? Analysts Sees Path To $10B Market Opportunity</a></li>
</ul>
Photo: Courtesy of Lucas via Pexels

Billion-Dollar Marijuana Giant Buys Another Brewery From Molson Coors, Expands Great Lakes Footprint

<a href="https://www.wsj.com/business/molson-coors-rolls-back-dei-initiatives-2a70339d">https://www.wsj.com/business/molson-coors-rolls-back-dei-initiatives-2a70339d</a>
<a href="https://www.wsj.com/market-data/quotes/TAP">Molson Coors</a> the maker of Coors Light and Miller beers, is the latest company to pull some of its diversity policies and initiatives.
The brewer said it would no longer participate in a scoring system by the Human Rights Campaign, an advocacy group that gives scores to companies based on LGBTQ+ inclusion in their workplaces.&nbsp;

Management

Reported Tuesday September 3, 2024, 'Molson Coors Rolls Back DEI Initiatives; The Maker Of Coors Light Said It Would No Longer Participate In A Benchmark By The Human Rights Campaign To Measure LGBTQ+ Inclusion' - WSJ

Rumors

Events

Trading Ideas

Watching Molson Coors Beverage Company, Shares See A  4% Pop To The Upside; Competitor Constellation Brands Now Presenting At The Barclays Global Consumer Staples Conference

Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#TSX">TLRY</a>) announced on Tuesday that it has completed the previously <a href="https://www.benzinga.com/markets/cannabis/24/08/40365052/billion-dollar-cannabis-firm-buys-a-brewery-four-actually-in-canadas-backyard">announced acquisition</a> of craft breweries Hop Valley Brewing Company,Terrapin Beer Co., and Revolver Brewing, from Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>).
<h3 class="wp-block-heading">Why It Matters</h3>
The acquisition bolsters Tilray&#8217;s leadership position in the U.S. craft beer market as the 5th largest craft brewer in the country and the top craft brewer in the Pacific Northwest and Georgia. Tilray is based in Canada.
This also strengthens the company's presence in Texas &#8211; the second largest beer consumption state &#8211; and expands Tilray's craft beer portfolio across key beer markets, adding 30% new beer-buying accounts.
&#8220;Tilray Brands is crafting a new future for brands in the craft beer industry,&#8221; said Irwin D. Simon, chairman and CEO of Tilray Brands. "This strategic acquisition creates additional growth opportunities for our global beverage business, which reinforces our commitment to enhancing shareholder value."
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03105848/ccc-oct-24-banner__1_-3.gif" alt="" class="wp-image-527336" /></a></figure>
Known for brands like SweetWater Brewing and Montauk Brewing Company, Tilray earlier said it expects a 30% growth in its <a href="https://www.benzinga.com/markets/cannabis/23/09/34579077/tilrays-beer-business-expands-nationally-starting-in-this-state">beer business from this acquisition.</a>
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40036301/tilray-should-be-a-long-term-holding-in-any-global-portfolio-of-cannabis-stocks-say">‘Tilray Should Be A Long-Term Holding In Any Global Portfolio Of Cannabis Stocks,' Says Analyst</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">What's Next</h3>
"Our plan is to drive growth and maximize the potential of these brands to their fullest capacity, while maintaining our dedication to delivering high-quality products and meeting the evolving needs of our consumers," Simon added.
For Tilray, this acquisition is set to increase their beer production to 15 million cases annually. Ty Gilmore, president of Tilray Beverages in North America said he was looking forward to bringing new team members and distributors on board.
According to Michelle St. Jacques, the company's chief commercial officer, with the move Molson Coors seeks to redefine its business strategy with this deal. "This deal lets us focus our efforts on projects that will significantly grow our top-tier U.S. beer and other beverage lines."
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39539050/is-tilrays-2b-valuation-just-the-beginning-analyst-sees-10b-market-opportunity-initiates-coverag">Is Tilray Really Worth $2B? Analysts Sees Path To $10B Market Opportunity</a></li>
</ul>
<h3 class="wp-block-heading">TLRY Price Action</h3>
Tilray's shares traded 1.4620% lower at $1.685 per share at the time of writing on Tuesday morning.

Retail Sales

TSX:TLRY

Billion-Dollar Cannabis Company Closes Acquisition Of Three US Breweries, What's Next For Tilray

Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares are trading higher Wednesday. The company announced Tuesday that it will acquire four craft <a href="https://www.benzinga.com/markets/cannabis/24/08/40365052/billion-dollar-cannabis-firm-buys-a-brewery-four-actually-in-canadas-backyard">breweries from Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>).</a>
The Details:
Tilray will acquire Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery from Molson Coors. The company said <a href="https://www.benzinga.com/pressreleases/24/08/g40348295/tilray-brands-to-acquire-four-craft-beer-breweries-from-molson-coors-beverage-company">the acquisition</a> will position it for growth within the beverage industry and expand its portfolio across key beer markets by adding 30% more beer buying accounts.
Tilray expects its beer business to grow to 15 million cases annually, following the acquisition.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/earnings/24/08/40352393/ouster-shares-fall-after-q2-results-heres-why">Ouster Shares Fall After Q2 Results: Here&#8217;s Why</a>
&#8220;Tilray Brands is proud to be driving the most compelling and unique growth story in the craft beer industry. With the acquisition of these four craft breweries from Molson Coors, we are marking another strategic milestone in Tilray Brands&#8217; growth plan. Our team&#8217;s expertise in operational excellence will enable us to unlock the full potential of these brands and businesses," said Irwin D. Simon, CEO of Tilray Brands.
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Tilray shares are up nearly 8% over the past five days and are trading above the stock&#8217;s 50-day moving average of $1.79.&nbsp;
<h3 class="wp-block-heading">Should I Sell My TLRY Stock? </h3>
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Shares of Tilray Brands have lost 29.09% year to date. This compares to the average annual return of -47.76%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity. 
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Tilray Brands stock currently has an RSI of 48.64, indicating neutral conditions.
For analysis tools, charting data and access to exclusive stock news, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a> 
TLRY Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Tilray Brands shares are up 2.68% at $1.91 at the time of publication Wednesday.
Read Also:
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<li><a href="https://www.benzinga.com/news/24/08/40349675/whats-going-on-with-affirm-shares-today">What&#8217;s Going On With Affirm Shares Today?</a></li>
</ul>
Image generated using artificial intelligence via MidJourney.&nbsp;

Movers

What's Going On With Cannabis Grower Tilray's Stock?

Tilray's Strategic Acquisition Will Strengthen its Craft Beer Leadership in the U.S. and Solidify Tilray Beverages as the #1 Craft Brewer in the Pacific Northwest and #1 in Georgia; Anchors Tilray in Key Markets, Texas and Michigan &nbsp;
Tilray's Beverage Division Projected to Grow New Beer Accounts by 30%
NEW YORK, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ("Tilray", "our", "we" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#TSX">TLRY</a>), a global lifestyle consumer packaged goods company elevating lives through moments of connection, today announced that the Company has entered into a definitive agreement to acquire four craft breweries from Molson Coors Beverage Company ("Molson Coors") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>). The acquisition includes <a href="https://www.globenewswire.com/Tracker?data=QyNXxNF8VmmCtbmrJydB6GqzNOw2hTFg6gY8c14qC9fWbGPRnpCi1ZQdRjsgilpQLhfhYl_2giPT2-eQMsCtm89XuNvhGsNYmwvYDASXyjTiEGo0bpXc1jytjwLiat-d1TFThFGTrCYUt4QWvhw7KFDVzOxBJgfsexk5v0mbkmw=">Hop Valley Brewing Company</a>, <a href="https://www.globenewswire.com/Tracker?data=aYTQVW_D88Cnr4p4gaOnfkQbdkhZ8VpNd_6pxWvx8ydMxyov1mwI9LC44mfD96wOHXyjqC3eL1a0xgPpNgx4QAWIgty4IGKYve1yAy_z4FM=">Terrapin Beer Co.</a>, <a href="https://www.globenewswire.com/Tracker?data=lH9tMiN0RWbYXv7lADc_OeXxgu8MRYwk8EUKX48Cd9IAwBAAUvN9UhwvBXpU_mEWFq2hH8UUs6rKsVOJFKtKbAMfA_ZEWHFoS9xL5ijPYIpHElprkufZ7bt1r-KM8yqGDGRjB03wmnnngbGn_TSPOQ==">Revolver Brewing</a>, and <a href="https://www.globenewswire.com/Tracker?data=-vl61fPFPdxBsIYPQMV3oEWKFe0l8LBn4XtThKkb0Oaree3DIcFXrMTwx3nXnIlRaoO2rSVtq9Kag2NVDiLJVePfMkPVmF90t_Bjwq4hdT9Wm29mI-0gz8Ut8lMY6E6esWiEbJGLWm0dKlYpw3KFRA==">Atwater Brewery</a>.

Tilray Brands To Acquire Four Craft Beer Breweries From Molson Coors Beverage Company; Tilray's Beverage Division Projected To Grow New Beer Accounts By 30%; No Financial Terms Disclosed

Tilray Brands Reportedly In Talks To Acquire Certain Molson Labels

Barclays analyst Lauren Lieberman maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Underweight and raises the price target from $47 to $49.

Price Target

Analyst Ratings

Barclays Maintains Underweight on Molson Coors Beverage, Raises Price Target to $49

TD Cowen analyst Vivien Azer downgrades Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) from Buy to Hold and lowers the price target from $68 to $58.

Downgrades

TD Cowen Downgrades Molson Coors Beverage to Hold, Lowers Price Target to $58

JP Morgan analyst Andrea Teixeira maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Neutral and raises the price target from $54 to $57.

JP Morgan Maintains Neutral on Molson Coors Beverage, Raises Price Target to $57

Deutsche Bank analyst Steve Powers maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Hold and raises the price target from $56 to $57.

Deutsche Bank Maintains Hold on Molson Coors Beverage, Raises Price Target to $57

UBS analyst Peter Grom maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Neutral and raises the price target from $55 to $58.

UBS Maintains Neutral on Molson Coors Beverage, Raises Price Target to $58

Wells Fargo analyst Chris Carey maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Underweight and raises the price target from $50 to $54.

Wells Fargo Maintains Underweight on Molson Coors Beverage, Raises Price Target to $54

Piper Sandler analyst Michael Lavery maintains Molson Coors Beverage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) with a Neutral and raises the price target from $57 to $59.

Piper Sandler Maintains Neutral on Molson Coors Beverage, Raises Price Target to $59

Despite the recent market turmoil, Jim Cramer has offered a reassuring perspective, suggesting that the current corporate earnings do <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">not indicate an impending recession</a>.
What Happened: CNBC host Cramer shared his insights on the corporate earnings reports, indicating that they do not signal a serious recession. He emphasized that the microdata from individual companies&#8217; reports does not support the notion of an imminent recession, <a href="https://www.cnbc.com/2024/08/06/cramer-says-tuesdays-earnings-dont-indicate-a-serious-recession.html">reported</a> CNBC on Tuesday.
"I think we're in a recessionless recession because I follow the actual micro data from individual companies that report," Cramer said. "When you run down the companies that reported in the last 24 hours, it's very hard to make the case that we're headed for a serious recession from here."
He highlighted the strong performance of companies such as Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) and Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>), which exceeded expectations. Cramer also pointed out the encouraging results from consumer discretionary companies like Uber Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), Molson Coors Beverage Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), Planet Fitness Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>), and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>).
&#8220;There was just great quarter after great quarter after great quarter this morning. They just can&#8217;t be seen by those who refuse to do the homework and only listen to central bankers,&#8221; Cramer said.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40154562/fed-may-be-bullied-into-50-bps-cut-in-september-says-mohamed-el-erian-as-global-mar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Fed May Be &#8216;Bullied&#8217; Into 50 BPS Cut In September, Says Mohamed El-Erian, As Global Markets Melt Down</a>
Why It Matters: Cramer&#8217;s comments come amid a period of economic uncertainty and market volatility. Despite the fears of a recession, several experts have expressed a contrary view. 
For instance, economist Claudia Sahm, who developed the Sahm Rule, has stated that she <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">does not believe the U.S. economy is in a recession</a>. 
Similarly, veteran Wall Street investor Ed Yardeni has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40170709/veteran-wall-street-analyst-counters-recession-fears-we-dont-expect-a-hard-landing-">challenged the recession fears</a>, asserting that he does not expect a hard landing.
Despite the ongoing debate, the market has been experiencing significant fluctuations. The possibility of an emergency rate cut by the Federal Reserve was even speculated <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40203305/should-fed-make-an-emergency-cut-before-september-meeting-no-not-even-close-analy">after recent shockwaves</a> in the interest rate markets. However, the implied probability of a Fed emergency rate cut in 2024 dropped sharply to 14% by Tuesday.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Economics

Markets

BLDR

PLNT

UBER

Jim Cramer Says 'We're In A Recessionless Recession,' Points To Uber And Other Strong Corporate Earnings As Reassuring Sign

U.S. stock markets saw a strong recovery on Tuesday, with both the S&amp;P 500 and the Nasdaq 100 climbing over 2%, nearly offsetting Monday&#8217;s losses. Investors took advantage of recent volatility to buy the dip, showing continued confidence in the U.S. economy&#8217;s ability to avoid a recession. 
Gains were observed in both small-cap and blue-chip stocks, reflecting broad improvement in market sentiment.
The CBOE Volatility Index (VIX), often referred to as the market&#8217;s fear gauge, decreased by almost 40% on Tuesday after spiking 65% on Monday. 
According to the FedWatch Tool, the likelihood of a 50-basis-point interest rate cut decreased to 90% Monday to 64% Tuesday. 
As traders reassess Fed rate cuts, Treasury yields increased during the day, with the 10-year yield rising by 11 basis points to 3.9% and the two-year yield climbing 9 basis points to 4.01%.
The rebound of the U.S. dollar was supported by rising yields and diminished expectations of a larger Federal Reserve rate cut in September. The dollar increased by 0.8% against the low-yielding Japanese yen, breaking a streak of five consecutive days of losses.
In terms of macroeconomic data, the day was relatively quiet, with only June&#8217;s trade figures making news. The U.S. trade deficit narrowed to $73.1 billion in June 2024 from a revised 20-month high of $75 billion in May, slightly above market forecasts of a $72.5-billion gap. Exports increased by 1.5% to $265.9 billion, the second-highest on record, while imports grew by a more modest 0.6% to $339 billion.
Gold and oil prices both decreased by 0.7% and 0.8%, respectively, marking their fourth consecutive session of declines.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rebounded by 4.9% after experiencing a 7% drop on Monday.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,312.03</td>
<td>2.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,295.41</td>
<td>2.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,081.01</td>
<td>1.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,301.11</td>
<td>1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:55 p.m. ET </figcaption></figure>
According to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was trading 2.2% higher to $528.42.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.7% to $393.21.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 2.4% to $445.63.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.9% to $206.06.</li>
<li>All 11 sectors of the S&amp;P 500 saw gains, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) leading the way, increasing by 3.1%. The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) witnessed the smallest gain, up 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rallied over 6%, snapping three straight session of losses. </li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) soared over 5%, marking its best one-day surge in a month. </li>
</ul>
Stocks reacting to company earnings included: 
<ul>
<li>ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), down by nearly 18%, </li>
<li>Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), up 3.8%,</li>
<li>Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), up 6.9%,</li>
<li>CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), up 3.7%,</li>
<li>Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), up 2.3%,</li>
<li>Expeditors International of Washington, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPD#NYSE">EXPD</a>), down 4.4%,</li>
<li>Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>), up 6.7%,</li>
<li>GLOBALFOUNDRIES Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>), down 1%,</li>
<li>Hyatt Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>), down 0.7%,</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) up 9%, </li>
<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), up 6.8%,</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) up 12.3%, </li>
<li>Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), up 11%</li>
<li>Teradata Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) down about 14%,</li>
<li>WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) down 6.7%,</li>
<li>Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) up 3.7%,</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>), down nearly 19%.</li>
</ul>
Companies reporting after the close are Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Cirrus Logic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRUS#NASDAQ">CRUS</a>), Exelixis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>), Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), GoPro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRO#NASDAQ">GPRO</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Jack in the Box Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>), IAC Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAC#NASDAQ">IAC</a>), Tripadvisor, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRIP#NASDAQ">TRIP</a>), Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>).
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YUMC

Wall Street Rebounds After Selloff, VIX Falls, Dollar Surges Against Yen: What's Driving Markets Tuesday?

Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) shares are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher on Tuesday.</a>
The company reported adjusted earnings per share of $1.92, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the street view of $1.68</a>. Quarterly net sales of $3.252 billion beat the analyst consensus of $3.181 billion. Net sales decreased 0.4% reported and 0.1% in constant currency.
&#8220;In the second quarter of 2024, we essentially held the top line and grew the bottom line 5.2% while cycling the strongest second quarter of U.S. GAAP reported net sales since the 2005 Molson and Coors merger,&#8221; CEO and CFO commented.
The company&#8217;s results were largely driven by favorable prices and U.S. shipment timing offset by lower contract brewing volumes.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40155365/zelle-controversy-heats-up-jpmorgan-considers-legal-action" rel="noreferrer noopener">Zelle Controversy Heats Up: JPMorgan Considers Legal Action</a>
Total debt as of June-end was $7.055 billion, and cash and cash equivalents totaled $1.647 billion, resulting in net debt of $5.408 billion and net debt to underlying EBITDA ratio of 2.13x.&nbsp;
On July 18, 2024, the company declared a dividend of $0.44 per share, payable September 20. The company returned $564 million in cash to shareholders in the first half of the year through both dividends and share repurchase program, which accelerated during the second quarter.
Outlook Reaffirmed: Molson Coors expects a low single-digit increase in <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">sales for 2024 on a constant currency basis.</a>
Underlying income before taxes is anticipated to rise mid-single digits, also on a constant currency basis. Capital expenditures are projected to be around $750 million, with a variance of ±5%.
Price Action: TAP shares are trading higher by 7.21% to $54.82 at last check Tuesday.
Photo via Shutterstock
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Guidance

General

Molson Coors' Cheers To Solid Q2: Surpasses Earnings Estimates, Eyes Continued Growth In 2024

U.S. stocks were higher, with the Dow Jones index gaining over 300 points on Tuesday.
Shares of Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) rose sharply during Tuesday's session after the company reported better-than-expected second-quarter earnings and <a href="https://www.benzinga.com/news/earnings/24/08/40181443/restaurant-company-yum-china-posts-mixed-q2-results-announces-cfo-change">announced a CFO transition.</a>
Core operating profit grew 12% Y/Y to $275 million, with a margin of 10.0% vs. 9.3% a year ago quarter. EPS of 55 cents surpassed the street view of 47 cents.
Yum China shares surged 11.6% to $33.26 on Tuesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares surged 90% to $4.92 after the company announced it secured $5 billion in new business from companies seeking to secure their fiber capacity.</li>
<li>Clear Secure, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOU#NYSE">YOU</a>) gained 26.4% to $24.61 after the company reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates.</li>
<li>Serve Robotics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) climbed 24.9% to $17.01 after falling around 7% on Monday.</li>
<li>TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) gained 21.2% to $20.85  after the company reported better-than-expected quarterly financial results and raised its FY24 Briumvi U.S. net product revenue. The company entered into a term loan facility with Blue Owl Capital.</li>
<li>Castle Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSTL#NASDAQ">CSTL</a>) rose 17.8% to $25.76 after the company reported better-than-expected second-quarter financial results and increased its FY24 revenue guidance above estimates.</li>
<li>Bioventus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BVS#NASDAQ">BVS</a>) jumped 18.5% to $7.42 after the company reported better-than-expected second-quarter financial results and raised its FY24 guidance above estimates.</li>
<li>Vimeo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMEO#NASDAQ">VMEO</a>) gained 17.2% to $4.18 after the company reported better-than-expected quarterly financial results and raised its FY24 revenue guidance.</li>
<li>Cabot Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBT#NYSE">CBT</a>) rose 15.2% to $100.21 following upbeat quarterly results.</li>
<li>Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) climbed 13.7% to $20.69 after the company reported better-than-expected quarterly financial results.</li>
<li>Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) gained 13.2% to $30.85 following better-than-expected quarterly earnings.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) gained 11.6% to $72.87  after the company upsized its share repurchase program.</li>
<li>BellRing Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) gained 11.2% to $54.85 following upbeat quarterly earnings.</li>
<li>TransMedics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) gained 9.3% to $162.20.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) rose 9.3% to $87.99 after the company reported better-than-expected quarterly financial results. Also, Evercore ISI Group maintained an Outperform rating on the stock and raised its price target from $113 to $115.</li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) rose 9.1% to $152.55. The company announced that it entered into exchange agreements with a limited number of noteholders of its 6% Convertible Senior Notes due 2025</li>
<li>Materion Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTRN#NYSE">MTRN</a>) gained 9% to $112.74 following strong quarterly earnings.</li>
<li>Planet Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLNT#NYSE">PLNT</a>) rose 9% to $78.53 after the company reported better-than-expected second-quarter financial results and reiterated 2024 outlook.</li>
<li>Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>) rose 6.7% to $54.58  after the company reported better-than-expected quarterly financial results.</li>
<li>Apollo Global Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) gained 5.9% to $105.02 after B of A Securities upgraded the stock from Neutral to Buy.</li>
</ul>
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Intraday Update

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Yum China Posts Upbeat Earnings, Joins Clear Secure, TG Therapeutics, Bioventus And Other Big Stocks Moving Higher On Tuesday

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Wells Fargo analyst Christopher Carey assigned a Sell rating to Molson Coors (TAP – Research Report) yesterday and set a price target of $52.00. Th...

Wells Fargo Releases a Sell Rating on Molson Coors (TAP)

Piper Sandler analyst Michael Lavery maintained a Hold rating on Molson Coors (TAP – Research Report) today and set a price target of $59.00. The c...

Piper Sandler Remains a Hold on Molson Coors (TAP)

In a report released today, Lauren Lieberman from Barclays maintained a Sell rating on Molson Coors (TAP – Research Report), with a price target of...

Molson Coors (TAP) Gets a Sell from Barclays

Consumer staples with lowest quant rating are worst performers in Q3: DLTR, DG, LW

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Press Releases

Molson Coors Beverage Company Reports 2024 First Quarter Results

Molson Coors Beverage Company Announces Regular Quarterly Dividend

Molson Coors Beverage Company Announces Proposed Public Offering of Euro-Denominated Senior Notes

Molson Coors Beverage Company Announces Pricing of its Public Offering of Euro-Denominated Senior Notes

Molson Coors Beverage Company to Webcast 2024 Second Quarter Earnings Conference Call

Molson Coors Beverage Company Reports 2024 Second Quarter Results

Tilray Brands to Acquire Four Craft Beer Breweries from Molson Coors Beverage Company

Tilray Brands Completes Acquisition of Craft Beer Brands and Breweries from Molson Coors Beverage Company

Tilray Brands Completes Acquisition of Atwater Brewery From Molson Coors Beverage Company

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Molson Coors Beverage

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PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL