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Popular alcohol producers had a bumpy morning how investors reacted to the US surgeon general's advice on alcohol and cancer.
As of Friday afternoon, Molson Coors shares were down 2.86% from where they opened trading. Anheuser-Busch Inbev fell 2.04%.
Coors Light is offering fans the chance to be featured in their Chill Train during a Super Bowl commercial. (Alex Flynn/Bloomberg via Getty Images/Getty Images)
These two major manufacturers were not alone.
Share price Boston Beer Companywhich owns Samuel Adams, Twisted Tea and other brands, fell 1.88%. Brown-Forman, known for brands such as Jack Daniel's and Woodford Reserve, fell 1.26%.
Jack Daniels Tennessee Whiskey on display at the 6th Annual Kentucky Derby Fillies & Stallions Party hosted by Black Rock Thoroughbreds along with Tito's Vodka, Jack Daniel's and Red Bull on May 6, 2016 in Louisville, Kentucky. ( (Photo by Robin Marchant/Getty Images for Ark Endeavors) / Getty Images)
Constellation Brands was trading at $220.54, down 0.93% from the start of the day.
| Ticker | Security | Last | Conversion | Change % |
|---|---|---|---|---|
| TAP | MOLSON COORS BEVERAGE CO. | 55.13 | -2.06 |
-3.61% |
| BUD | ANHEUSER-BUSCH INBEV | 49.93 | -0.14 |
-0.28% |
| ALONE | BOSTON BEER CO. Inc. | 292.01 | -9.25 |
-3.07% |
| BF.B | BROWN-FORMAN CORP. | 37.18 | -0.80 |
-2.11% |
| STZ | CONSTELLATION BRANDS INC. | 222.57 | +1.57 |
+0.71% |
That came soon after Consultation of the general surgeon Dr. Vivek Murthy of a “direct link” between alcohol and increased cancer risk.
ALCOHOL LINKED TO CANCER RISK IN US NEW ADVICE FROM SURGEON GENERAL
A news release released Friday morning said alcohol consumption is the “third leading preventable cause of cancer in the United States.”
Scientific evidence shows “a causal relationship between alcohol consumption and an increased risk of at least seven different types of cancer, including breast (in women), colorectal, esophagus, liver, mouth (oral cavity), throat (pharynx), and voice box.” larynx),” the consultant also stated.
Murthy proposed several actions that he said could help “start to reduce the incidence of alcohol-related cancers” in America. They include adding a cancer risk warning to the Surgeon General's alcohol warning label, strengthening risk education, and reevaluating the “recommended limits for alcohol consumption” according to the counseling office.
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The Surgeon General's current required label states: “GOVERNMENT WARNING: (1) According to the Surgeon General, women should not drink alcoholic beverages during pregnancy because of the risk of birth defects. (2) Consuming alcoholic beverages impairs your ability to drive or operate machinery and may cause health problems.”
Congress has the authority to make updates to this label.
“This recommendation sets out steps we can all take to raise awareness of alcohol's cancer risk and minimize harm,” Murthy said in a statement.
Large selection of cocktails and alcohol bottles at the bar. (Godong/Universal Images Group via Getty Images/Getty Images)
About 45% of Americans knew that alcohol has a cancer risk, the adviser said.
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Gallup reported in August that among Americans who drink alcohol, 34% said they “most” consume beer. Meanwhile, one-third said they preferred wine.
About 29% of American drinkers say alcohol is what they drink most often, according to Gallup.
Melissa Rudy of Fox News Digital contributed to this report.
