Summer Stock Series: Beer
Anheuser-Busch , which makes Budweiser, surged 7% after reports that Belgian brewing giant InBev is considering a takeover offer that prices the U.S. brewer at $65 a share.
And that leads to our final installment of our summer stock trades … beer!
This summer you and your honey probably won't be sipping Corona's on a tropical island. Soaring gas prices and tumbling home values have crushed sales of the high end expensive brand down 6% so far this year
Nope, this summer, it's time to crank up music, head for the backyard and toss your loved one a Bud. Yep, cash is tight and that means cheaper brands like Milwaukee Best are being tapped out.
To be sure, record prices of wheat, barley, and aluminum may start to get tough for the beer makers to swallow but international growth could keep the good times rolling.
So grab a beer and kick off your shoes. Here are Fast Money’s tasty summer brew buys.
Look at Boston Beer , says Guy Adami, as a trade. I think it’s oversold right now.
I like Molson Coors , adds Jeff Macke.
Or check out Companhia de Bebidas das Americas as an international play, says Tim Seymour.
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Trader disclosure: On May 23, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), (MSFT), (INTC), (WMT); Jon Najarian Owns (AAPL), (AMR), (BHI), (BUD), (DELL), (FTO), (VLO), (OII), (CPX); Jon Najarian Is Short (LEH); Seymour Owns (AAPL), (F), (INTC), (MER), (MSFT), (TSO); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE)