Anchor Brewing Is Shutting Down After 127 Years

America’s oldest craft brewer Anchor Brewing Company is shutting down after 127 years in business.

The San Francisco, California-based company announced Wednesday that it is ceasing operations and liquidating its business due to “a combination of challenging economic factors and declining sales since 2016.”

According to the company, “impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no option but to make this sad decision to cease operations.”

“This was an extremely difficult decision that Anchor reached only after many months of careful evaluation,” said Anchor Brewing spokesperson Sam Singer.

Anchor Brewing Company is a brewery on Potrero Hill in San Francisco, California, founded in 1896. In 1965, Frederick Louis Maytag III saved it from bankruptcy by buying 51% of the brewery, “despite the primitive equipment and financial condition.” It moved to its current location in 1979. It is one of the last remaining breweries to produce Steam beer, a trademark owned by the company.

In 2010, the company was purchased by The Griffin Group, an investment and consulting company focused on alcohol brands, and became part of Anchor Brewers & Distillers, LLC. Later, in 2017, it was acquired by Japanese giant Sapporo Breweries for $85 million.

Workers at Anchor, which employs 61 people, were given a legally mandated 60-day notice Wednesday and will receive “transition support and separation packages.”

Brewing has stopped immediately and beer on hand will still be sold through the end of July.

Oil Futures Pare Gains, Settle Lower

Oil futures pared early gains and settled lower on Wednesday after official data showed a smaller-than-expected drop in U.S. crude inventories in the week ended July 14th.

A stronger dollar weighed as well on crude oil prices.

West Texas Intermediate Crude oil futures for August ended lower by $0.40 or about 0.5% at $75.35 a barrel, coming off the session’s high of $76.97 a barrel.

Brent crude futures were down $0.12 or 0.16% at $79.51 a barrel a little while ago.

Data released by the Energy Information Administration (EIA) this morning showed U.S. crude inventories dropped by $0.708 million barrels last week, as against forecast for a drop of about 2.44 million barrels.

Gasoline stockpiles fell by 1.066 million barrels last week, less than an expected decline of 1.577 million barrels, while distillate stockpiles rose by 0.014 million barrels, smaller than the forecast for a 0.460 million barrels drop.

A report released by the American Petroleum Institute (API) on Tuesday had showed crude oil inventories declined by 0.80 million barrels last week, lower than an expected fall of 2.25 million barrels.

‘Mass shooting’ in New Zealand as armed police descend on city centre

Armed police have rushed to the centre of a major New Zealand city after reports of multiple wounded civilians at the hands of an alleged gunman. 

A distressed witness in the central business district of Auckland, northern New Zealand, described seeing a person with a gun in the early hours of Thursday (July 20).

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Climber dies in fall in Rock Park said Castle Rock Fire and Rescue

A climber died Tuesday night in a fall in Rock Park in Castle Rock.

At about 8 p.m. emergency responders found the man in the park, 1470 Front St., and he was pronounced dead at the scene, according to Castle Rock Fire and Rescue.

Witnesses told authorities the man fell as he was climbing in the area. A police department investigation of the incident is ongoing.

The man has not been identified.

This is a developing story.

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Steel Dynamics Bottom Line Falls In Q2

Steel Dynamics (STLD) revealed a profit for second quarter that decreased from last year

The company’s bottom line came in at $812.11 million, or $4.83 per share. This compares with $1.21 billion, or $6.49 per share, in last year’s second quarter.

The company’s revenue for the quarter fell 18.2% to $5.08 billion from $6.21 billion last year.

Steel Dynamics earnings at a glance (GAAP) :

-Earnings (Q2): $812.11 Mln. vs. $1.21 Bln. last year.
-EPS (Q2): $4.83 vs. $6.49 last year.
-Revenue (Q2): $5.08 Bln vs. $6.21 Bln last year.

Cohen & Steers Inc. Q2 Profit Decreases, misses estimates

Cohen & Steers Inc. (CNS) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings totaled $31.78 million, or $0.64 per share. This compares with $51.96 million, or $1.06 per share, in last year’s second quarter.

Excluding items, Cohen & Steers Inc. reported adjusted earnings of $34.74 million or $0.70 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 18.2% to $120.63 million from $147.43 million last year.

Cohen & Steers Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $31.78 Mln. vs. $51.96 Mln. last year.
-EPS (Q2): $0.64 vs. $1.06 last year.
-Analyst Estimates: $0.72
-Revenue (Q2): $120.63 Mln vs. $147.43 Mln last year.

SL Green Realty Corp. Q2 Loss increases, misses estimates

SL Green Realty Corp. (SLG) announced Loss for its second quarter that increased from the same period last year and missed the Street estimates.

The company’s earnings totaled -$360.2 million, or -$5.63 per share. This compares with -$43.9 million, or -$0.70 per share, in last year’s second quarter.

Analysts on average had expected the company to earn -$0.74 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 50.3% to $221.1 million from $444.6 million last year.

SL Green Realty Corp. earnings at a glance (GAAP) :

-Earnings (Q2): -$360.2 Mln. vs. -$43.9 Mln. last year.
-EPS (Q2): -$5.63 vs. -$0.70 last year.
-Analyst Estimate: -$0.74
-Revenue (Q2): $221.1 Mln vs. $444.6 Mln last year.