Anheuser-Busch InBev’s stock surged early Thursday after the company beat earnings estimates for the second quarter, even as North American numbers were hit by the conservative-led boycott of Bud Light.
The stock move BUD also sparked buying in the company’s bonds, with early sellers turning into buyers, as the following chart from data-as-a-service provider BondCliQ Media Services shows. As expected, U.S. sales to retailers fell 14%, underperforming the industry, as Bud Light volumes were hit by a boycott sparked by a marketing campaign involving a transgender influencer.
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Coors Light brewer benefits from Bud Light's turmoil | CNN BusinessBud Light’s decline is benefiting one of its biggest rivals.
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