Anheuser-Busch Credit Rating UPDATE and 4 Stocks BUZZING to Kick Off the Week
Brewer Anheuser-Busch InBev’s (NYSE:BUD) free cash flow allowed for its acquisition of the remaining stake in Mexican brewery Grupo Modelo, leading Fitch to reiterate its credit ratings of Anheuser-Busch and express a view that Grupo Modelo’s profit margins could improve under A-B.
With demand seemingly down General Motors (NYSE:GM) cut production in India during April and May; it now plans to revamp its model lineup with three new cars that could include hatch and sedan variants of the Sail and a diesel model of the Cruze.
Japanese chipmaker Elpida Memory, in bankruptcy proceedings, is bought by Micron Technology (NASDAQ:MU) for approximately $750 million, with creditors being paid off in installments of $1.75 billion annually up to 2019.
Sony’s (NYSE:SNE) Computer Entertainment division has bought Gaikai, a cloud-based gaming company for $380 million – enabling Sony to stream games to all Sony devices that are connected to the internet.
Chevron’s (NYSE:CVX) California refinery sprang a pin hole leak that caused a sulfuric acid spill at the plant.
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