U.S. equity markets were roiled by more political rhetoric aimed at the healthcare, the S&P 500‘s third-largest sector weight, and that was enough to send broader indexes lower Wednesday.
Craft Brew Alliance Inc (BREW)
Shares of craft beer maker Craft Brew Alliance jumped 22.5% on more than 10 times the usual volume after the Oregon-based company extended its relationship with global beer giant Anheuser Busch Inbev SA (ADR) (NYSE:BUD).
As part of the new agreement, Anheuser Busch Inbev SA will brew 300,000 barrels of Craft Brew’s beer at its breweries. News of the extended agreement with Anheuser Busch Inbev SA sparked some bullish analyst commentary on BREW.
Sidoti & Co. boosted its price target on Craft Brew Alliance to $22 from $18 while raising its 2017 EPS estimate on the stock to 66 cents from 44 cents. The consensus estimate calls for earnings of 34 cents a share.
Lannett Company, Inc. (LCI)
Shares of generic drug maker Lannett climbed 13.7% on nearly 10 times the average daily volume after the company reported fiscal fourth-quarter results that topped Wall Street estimates.
On an adjusted basis, LCI earned 73 cents a share, well ahead of the 60 cents analysts expected. LCI posted sales of $168.9 million during the quarter. Analysts were expecting $161.8 million.
Philadelphia-based LCI forecast full year sales of $690 million to $700 million.
National Beverage Corp. (FIZZ)
Soft drinks maker National Beverage Corp. surged 6.6% on more than triple the average daily volume after the company delivered solid fiscal-first-quarter results.
“From our founding through our last preview press release dated August 10, 2016, we have strived to be genuine and extremely straightforward in our views with our consumers and shareholders. When questioned about the value of our brands or our specific new course within the industry, we articulated with exceptional results,” said CEO Nick A. Caporella.
For the quarter, FIZZ earned 62 cents a share on sales of $217.1 million.
Florida-based National Beverage makes drinks under the Everfresh, Faygo and Shasta labels, among others.
At the time of this writing, Todd Shriber did not own any of the aforementioned securities.