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Closing glance: major drink stocks tumble



By AP
07 May 2008 @ 04:40 pm EST

NEW YORK - Major beverage stocks fell late Wednesday amid broad market declines as oil surged past $123 per barrel, setting off concerns that consumers will be forced to cut back even further on discretionary spending.

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Quotes
TAP 35.99 -3.57
BUD 59.75 -3.27
KO 44.21 0.48
PEP 51.25 -3.15

SYMBOL LOOKUP

Here's how shares of some major beverage makers performed:

Molson Coors Brewing Co. dropped $2.51, or 4.4 percent, to close at $54.59.

Anheuser-Busch Cos. lost $1 to $50.71.

Pepsico Inc. fell 56 cents to $68.01.

Coca-Cola Co. declined $1.24 to $57.03.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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