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Why Heineken Rallied on a Bad Day for the Markets
Shares of beermaker Heineken (OTC: HEINY) had rallied 5.1% on Wednesday as of 3:20 p.m. ET, which was all the more notable since the S&P 500 index was down 3.1% at the same time.Heineken posted first-quarter results Wednesday morning that came in better than expected, and also reiterated its prior full-year profit guidance. While management noted uncertainty from the tariff controversy, it appears the company's restatement of full-year expectations set investors at ease.Continue reading
Shares of beermaker Heineken (OTC: HEINY) had rallied 5.1% on Wednesday as of 3:20 p.m. ET, which was all the more notable since the S&P 500 index was down 3.1% at the same time.
Heineken posted first-quarter results Wednesday morning that came in better than expected, and also reiterated its prior full-year profit guidance. While management noted uncertainty from the tariff controversy, it appears the company's restatement of full-year expectations set investors at ease.
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