Seeking Alpha Author Ian Bezek joins Cheddar to discuss why Molson Coors stock is down 20% this year. As other alcohol companies are surging at least 30%, Bezek explores why Molson Coors fell behind.
He believes the first reason may be that it's got a
"merger hangover." Molson Coors made a huge purchase last year, buying the MillerCoors assets that Anheuser-Busch had to sell for anti-trust reasons as part of its merger with SABMiller. He believes eventually this merger will positively effect Molson Coors sales, but it hasn't panned out yet.
Plus, Bezek talks about Molson Coors' stronghold on the craft beer industry. It's the #2 brewer in the U.S. and the UK and because of that has strong potential to turn around in 2018.
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.
