Good news for anyone following (or owning) shares of Samuel Adams parent company Boston Beer as their shares rose 14%. Details from Marketwatch:
NEW YORK (MarketWatch) -- Boston Beer Co. SAM +14.74% , the maker of Sam Adams brew, rose 14% in premarket trades on Thursday. Late Wednesday, the company said it now expects 2012 profit of $4.30 to $4.60 a share, up from its earlier view of $3.80 to $4.20 a share. Wall Street analysts expected the company to earn $4.34 a share, according to a survey by FactSet. Boston Beer Co. cited increased shipment volumes and the timing of selling, general and administrative expenses. The company also increased its 2013 depletions estimate to a range of 10% to 15%, from its earlier forecast of high single digits.
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