Boston Beer Co. (SAM) reported first quarter net income of $0.51 per share after the bell Wednesday, down from $0.56 per share a year ago. The consensus estimate was for EPS of $0.60. The company expects to report full year 2013 EPS of $4.70 to $5.10, compared to the consensus estimate of $4.95.
Boston Beer Co. gapped open sharply lower Thursday and declined throughout the first half of the session. Shares finished down by 19.31 at $146.72 on the highest volume in 4 1/2 months. The stock dropped to over a 2-month low and fell below its 50-day moving average.
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