molson coors, this is a coors of a different color.a nutshell the acquisition was complicated and turned out to be poorly timed. just as consumers were increasingly turning to fancier craft beers. molson coors reporting a no good very bad atrocious quarter just a gigantic bottom line mis. so what really separates michael kors from molson coors while michael has been benefitting from the renaissance in the apparel space, molson has been crushed by marijuana. smoked by legalization the apparel come back is self-explanatory look at nike, or higher department stores like macy's. but what the heck is molson coors getting steam rolled by this slow wave of can bus legalization it turns out beer and weed are not two great tastes that go together remember, kids, just say no. in states that legalize medicinal marijuana, alcohol sales have fallen by an average of 15% holy cow now the booze business was already shifting away from the mass market beers that coors specializes. but the weed thing, turns out people like to be only one kind of intoxica

q one report beer sales in the first quarter of the year were down and highs were bush in bev molson coors and heineken all reported sharply lower u.s. beer sales compared to a year earlier it appears however that consumers are not staying away from drinking they are turning to wine and the harder stuff like whiskey and some of those sales increased a particular note is the four point one percent in and heizer busch imbed which lost ground in their flagship budweiser and bud light products molson coors dropped five percent and eight percent five point eight percent rather and heineken dropped by roughly eight to nine percent other reasons that some suggest for the fall in sales is due to some consumers turning away from the big brands to craft breweries another reason may be the weather which last year was warmer during the first quarter of the year then this year and with that we are out of time for today. it's above eighty degrees here maybe grease fahrenheit in d.c. and there's probably a cold something someplace thanks for watching be sure to catch boom bust on youtube youtube dot com

. >>> molson coors was downgraded to hold from buy. they cite t lack of expansion opportunities for the beer brewer. the price target is as5. itp just a fraction to $60.26. >>> still ahead, a sto with a lot of hope. the changing way cancer is being treated. >>> remingt has exited chapter 11 bankruptcy after just two months. the company says it now has less debt and more stable financing. remington, of course, is one of america's oldest and best known gun makers. it also makes the controversial ar-15 firearm and it still faces various class action lawsuits. >>the ceo of bumble bee tuna has been charged in a price fixing scream. a grand jury indicted the executive. he is the fourth individual charged in a federal probe into the industry. if convicted he could face 10 years in prison and aon $1 mil fine. >>> cbs is starring in its own drama right now. the networkas been at the center of a battle for control, and today cb suffered a stunning legal setback as it tries to break free from its controlling shareholder. today's ruling sent the s

let's look at two stocks to watch individually >> up first, molson coors. ticker is tap. it's down 15% today after missing estimates on the top and bottom line. they own brands like blue moon in addition to coors >> you know what might help? this hot weather >> wilf, you need a palm front >> don't point that out. i'm just saying we could picture a nice cold beer in the sun. >> the mexican beers have done okay even though they've tried to buy up craft names right now, volume numbers are not there. >> down 15% for that but much worse, snap the company behind snapchat, of course, down 22% after suffering through its lowest ever open this morning the collapse comes after the company posted declines in its ad pricing the company also continued to struggle with the controversial redesign of the app. and as that reads the app everyone is focusing on. clearly the numbers are concerning when you consider that revenues slightly forecast. only 2% higher and costs overall rising again so the loss overall was $385 million. it's not a really early stage social media company it still ma

. >>> shares of molson coors are lower.ts the company pointing to weak u.s. industry conditions among other factors. >>> okay apple's latest earnings report saw the company beat on both top and bottom lines josh lipton joins us with more on that story. >> reporter: investors had been plenty worried about iphone x demand, but tim cook saying that x remains his best seller telling me iphone x was the most popular iphone each and every week of the quarter. and that's of course on top of last quarter it was also the most popular iphone every week since its launch another positive surprise, revenue in greater china jumping 21%. strongest growth rate there in ten quarters i did ask cook about trade tensions with china with the ceo saying i think that china and the u.s. have this unavoidable mutuality. where if china wins china can only win if the u.s. wins. i also did finally talk about this qualcomm fight that tim cook finds himself in. tim cook making it clear to me he didn't enjoy the opportunity here to engage in this fight t

. >> [laughter] stuart: all right we've got lower sales at the canadian brewer that will be molson coorscks down 13% that's a sell-off. young brands fewer people going into pizza hut and kfc restaurants, foot traffic down the stock saw 5% and now this, soccer club moving on to the champion league final after beating munich, and on aggregate last night, madrid led the team with two goals and one came after the goalie, oh, would you look at that. >> painful. stuart: madrid faces the winner of the liverfool game which is this afternoon. >> it's going to be heated. stuart: the final is may 26 in ukraine. >> we're on our way. stuart: yeah. next, we have a california city council member who says the state sanctuary state laws are fueling chaos. he's mad as hell that california is putting lives at risk not only legal california residents but the lives of law enforcement people too. he's next, he is fired up. and nancy pelosi confident the democrats will win the mid-terms is she forgetting some of the comments she made? mike pence didn't and he called her out. you'll hear it, next. as a control