Anheuser-Busch InBev SA/NV produces and sells beer, near-beer products, and soft drinks worldwide. The company, whose origins date back more than 600 years, has over 500 beer brands, including Budweiser, Stella Artois, Beck's, Leffe, and Michelob. Through a range of M&A deals, it has become the world's largest brewer by volume and one of the world's largest consumer products companies by revenue. It employs approximately 144,000 people.

The major indices are moderately higher at midday. President Trump announced his plan for 25% tariffs on all cars and light trucks made outside of the U.S. Auto parts are also included. Meanwhile, the U.S. economy grew at a 2.4% rate in 4Q. We forecast that the GDP growth rate may slow 50-100 basis points due to trade wars, while inflation rises at a similar rate. We estimate 1Q at 1.6%. The yield on the 10-year Treasury note is at 4.38%. Oil is at $69 per barrel. Bitcoin is near $87,000.

Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and US-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev, an 87% stake in Budweiser APAC, and in 2016 it acquired SABMiller.

Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, according to Euromonitor, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and US-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev and in 2016 it acquired SABMiller.