Anheuser-Busch InBev NV (BUD) is in the process of acquiring Grupo Modelo (GPMCY), most famous for brewing Corona beer, for a deal valued at more than $12 billion. BUD’s shares rose almost 1% this morning and GPMCY rose over 12%.
Across the Pacific, Sony Corp. (6758.TO) and Panasonic Corp (6752.TO) made an agreement to develope a new organic light-emitting large screen TV. Sony was down about 2.5% and Panasonic was up just over .5%.
In the drug industry, Bristol-Myers Squibb Co. (BMY) and Pfizer (PFE) fell almost 4% and 1.3% respectively after the FDA requesting more information about their drug Eliquis.
Oil companies were taking losses across the board this morning as crude continued to fall and Brent crude fell below the significant $90 level. Exxon Mobil Corp (XOM) was down over 2.25%, Chevron (CVX) was down almost 2% and BP PLC (BP) was down 2.22%. WTI crude futures were down $1.37 (-1.72%) and trading at $78.39.
Gold futures rose $8.80 to 1575.70 and Euro futures fell .6% to $1.2497. Natural gas futures rose 6.70 cents (2.55%) to $2.6920.