Weak Labor Day Worries Wall Street

Wet weather and weak scanner data going into the Labor Day weekend has caused a few analysts to register their worries about the US beer business this week and last. Investment firm Stifel Nicolaus downgraded Anheuser-Busch to "hold" from "buy" Friday, citing slowing beer sales. "We expected the slowdown, but the magnitude has been greater than expected," said Stifel Nicolaus analyst Mark Swartzberg said. "We no longer see risk of positive earnings revisions over the next 12 to 18 months."