Bud Light parent’s stock is up, sparking buying in its bonds, after beer company surprises with profit beat

📆 8/3/2023 5:03 PM
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Anheuser-Busch InBev's stock was up 2% Thursday, and early selling of bonds turned into buying.

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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