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Following directly on the heels of its chief competitor, Anheuser-Busch (BUD – 42.30), Adolph Coors (RKY – 70.73) announced earnings for the fourth quarter this morning. Although RKY's sales do not surpass those of BUD, the company did post a positive earnings surprise, unlike its midwestern brethren. RKY officials said the firm earned 40 cents per share for the reporting period, edging past Street estimates by a penny and topping last year's numbers by more than 20 percent. Additionally, officials noted that 2000 was the fifth consecutive year that the company achieved double-digit earnings growth.
The shares have been trying to pull themselves out of an early-year hangover that saw the equity decline over 25 percent between the beginning of 2001 and January 24. Over the last two weeks, the stock has tacked on 15 percent, rising above its 10-day and 20-day moving averages in the process. The security's newly descending 10-week moving average is lodged directly overhead, however, near the 71 level.
RKY is an optionable stock but it is lightly traded. The most-active RKY option is the February 60 put, home to 508 open contracts.