Anheuser-Busch Shares Leap On Buffett News
http://www.forbes.com/facesinthenews/2005/04/21/0421autofacescan11.htmlAnheuser-Busch Shares Leap On Buffett News
Greg Levine, 04.21.05, 5:05 PM ET
NEW YORK - Doers and doings in business, entertainment and technology:
Warren Buffett
Billionaire Warren Buffett is famed for his simple tastes: Dairy Queen treats and hot dogs. Now maybe a cool Bud? The Sage of Omaha's Berkshire Hathaway (nyse: BRKa - news - people ) bought a "significant" stake in Anheuser-Busch (nyse: BUD - news - people ), the brewer said. After America's No. 1 suds-maker made the announcement, its shares jumped 6.5%, rising $2.94 to close Thursday at $48.04 on the New York Stock Exchange. St. Louis-based Anheuser-Busch, maker of Budweiser and Bud Lite, would not reveal further details--such as how large a stake Berkshire bought. Of late, the U.S. beer market has softened beneath the rivers of mixed drinks and wines; earlier this month, Anheuser slashed its 2005 earnings view for the second time. So why did the brewer win the widely sought-after Buffett nod? Investment mortals can only wonder and theorize, but perhaps the arrival of baseball season and forecasts of a long, hot summer had something to do with it
posted by USstock @ 2:08 PM
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