Boston Beer stock gets downgrade from Goldman Sachs as hard-seltzer business fizzles

Boston Beer Co. Soon may have lower its expectations for the year as its hard-seltzer business “deteriorates further,” analysts at Goldman Sachs said Tuesday. The analysts downgraded their rating on Boston Beer SAM, -4.86% shares to sell, from the equivalent of hold, saying they see “an even greater negative risk / reward” balance for the … Read more

The IPO Market Has Gone Cold. Getting It Going Again Is Likely To Take Some Time.

Elias Stein Text size The queue for initial public offerings is long, over 300 companies long. But precious few are proceeding: By June 17, only 47 companies, valued at $ 4.6 billion, had undergone traditional IPOs in 2022-74% below the same period in 2021, notes Dealogic. Most of the 47 have been tiny. Larger IPOs, … Read more Considers a Move Into Competitive Food Delivery Business in China

Text size stock rose after a company executive said in a TV interview that the Chinese e-commerce giant may move into on-demand food delivery in China. Giulia Marchi / Bloomberg is considering expanding into on-demand food delivery service, a top executive of the Chinese e-commerce giant said in a Bloomberg TV interview. Such … Read more

Stock Market Closed for Juneteenth, June Economic Data, and More to Watch This Week

Text size Uncredited US stock and bond markets will be closed on Monday in observance of Juneteenth. There will be a handful of earnings reports, annual shareholders meetings, and economic-data releases when investors return this week. Companies reporting quarterly results will include Lennar on Tuesday; FedEx , BlackBerry , and Darden Restaurants on Thursday; and … Read more

Uber and Lyft Stocks Tumble as Markets Seek Strong Profits

Text size Uber and Lyft face headwinds from driver supply and increasing gas prices. Timothy A. Clary / AFP via Getty Images We’re not in Kansas anymore. Shares of Uber Technologies (ticker: UBER ) and Lyft ( LYFT ) are tumbling after the ride-hailing companies both posted better-than-expected financial results. On Wednesday, Uber reported revenue … Read more