Anheuser-Busch to Cut Prices: The nation’s biggest...

Anheuser-Busch to Cut Prices: The nation’s biggest brewer will trim the prices of Budweiser and its other beers in response to a wave of discounting in the industry. The St. Louis-based company said the move would cut its earnings in the second half of this year and in 1990. Anheuser-Busch also reported third-quarter profit of $238.3 million, up 5.2% from a year ago, on sales that rose 6.1% to $2.7 billion. Analysts were disappointed by the news, and the firm’s stock, the second most active issue on the New York Stock Exchange, dropped $4.375 a share to close at $38.50.