Anheuser-Busch Companies (BUD) NewsBite - BUD Q2 Profit Rises on Higher Sales

Posted on Wednesday, July 23, 2008 2:32 PM

Anheuser-Busch Companies Inc. (BUD) opened at 67.20. So far today, the stock has hit a low of 67.2 and a high of 67.50. BUD is now trading at 67.37, up 0.12 (0.18%). The stock hit its 52 week high of 67.55 in July and set its 52 week low of 45.55 in March. BUD fell at the beginning of this year, but is showing signs of rebound recently. Anheuser-Busch reported today a 1.8% rise in second-quarter profit which jumped up to $689 million on higher sales. The company posted adjusted earnings of 95 cents, above analysts' expectations of 93 cents. Anheuser-Busch also said it would raise prices again starting in September. Technical indicators for the stock are bullish but slightly deteriorating while S&P gives BUD a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $60 range. BUD stock could fall up to 10.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]