☕ Cheers to beer

Anheuser-Busch stages its comeback...

May 06, 2026 View Online | Sign Up | Shop Presented By Hail. A full-length trailer for Christopher Nolan’s The Odyssey came out yesterday, and the internet is up in arms, because in it, Telemachus refers to his father, Odysseus, as his “dad”—which no one in 1200 BCE would say. And that was before Telemachus even hits his watermelon ice vape and calls his mom’s suitors chopped. —Molly Liebergall, Sam Klebanov, Dave Lozo, Matty Merritt, Adam Epstein In today’s newsletter, we’ll get into: Beer making a comeback More AI-driven layoffs The Roomba creator’s creepy new project MARKETS Nasdaq 25,326.13 +1.03% S&P 7,259.22 +0.81% Dow 49,298.25 +0.73% 10-Year 4.416% -3.0 bps Bitcoin $81,562.21 +2.04% Shopify $107.63 -15.62% Data is provided by *Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. Markets: Stocks notched fresh records yesterday as the tech sector rallied and the fragile US–Iran ceasefire appeared to (mostly) hold. But, like a guy in a fedora who won’t stop talking about chemtrails, Shopify ruined the party yesterday, tanking by more than 15% after it said the pace of revenue growth is slowing down.   GLUG GLUG GLUG Beer is back on the menu, boys Niv Bavarsky A proverbial ladybug just landed on the cracking-a-cold-one business: The number of drinks sold by Anheuser-Busch, the world’s largest brewer, increased last quarter for the first time in three years, the company reported yesterday, surprising analysts and suggesting that a broader chill in the beer industry may be thawing. “Cheers to beer,” AB InBev CEO Michel Doukeris said of the promising results, which also included better-than-expected 12% revenue growth. Major gains in Latin American markets drove the beer beat: The brewer’s Brazil unit notched record growth in sales volumes, sending shares of the Sao Paulo-listed subsidiary soaring by their most in almost 27 years. AB InBev, which owns Corona and Modelo (except in the US), also exceeded expectations in Mexico, overtaking rival Heineken in the region. But…that wasn’t enough to turn beer sales positive for the whole continent. In what could be interpreted by Big Ten students as a challenge, overall North American beer sales continued to fall, as persistent inflation and shifting health trends kept US shoppers away from the alcohol aisle. Good thing AB InBev has expanded into beer that doesn’t get you drunk—revenue from its non-alcohol beverages jumped 27% in the quarter. Sign of the imbibing times? Along with AB InBev… The Danish brewer Carlsberg recently reported that its beer volumes turned positive after rolling downhill last year. Heineken’s total volumes also grew last quarter after falling in 2025, but the breakthrough was buoyed by sales of mixers and ciders. Heineken’s beer volumes actually fell from the same time last year. Looking ahead…AB InBev said it’ll beat out both of those rivals this year. Much like other brewers, the company that slings Budweiser, Bud Light, Stella Artois, and Michelob Ultra—now the best-selling beer in the US—expects a significant summertime boost from World Cup festivities.—ML Sponsored By Mizzen+Main Classic style. Modern performance. No matter what you’ve got planned for your summer, Mizzen+Main has your outfit needs covered. Mizzen+Main helps keep you lookin’ sharp wherever your travels take you. Their classic styles are designed with modern performance features, like wrinkle-resistant, moisture-wicking, and machine-washable fabric. The performance fabric dress shirt is what really put them on the map, so you can bet on all their styles being inspired by the same timeless look, built for the modern day. When you look and feel this good, don’t be surprised if you never want to take these styles off. Get 20% off your next closet staple with code BREW20. WORLD Tour de headlines Tom Williams/Getty Images Trump said he’s pausing “Project Freedom.” In a social media post last night, President Trump announced he was pausing the US operation to escort ships through the Strait of Hormuz “for a short period of time” to allow time for an agreement with Iran. Trump’s post came just hours after Secretary of State Marco Rubio told reporters that the US was committed to Project Freedom. Rubio and Defense Secretary Pete Hegseth also said the fragile ceasefire was still holding, even as Iran continued to attack the United Arab Emirates. Both the US and Iran claimed to control the crucial strait yesterday, as maritime traffic came to a near standstill.—AE Alberta separatists want to leave Canada. Stay Free Alberta submitted over 300,000 signatures (they only needed 178,000) this week that would force a referendum vote on whether the province should secede from the rest of Canada. The group’s main gripe is that the federal government’s green initiatives have stifled the region from producing and exporting oil, costing Alberta billions of dollars. The option to split could be put on the ballot as early as October, though it already faces court challenges. Polls show that support for the separatist movement has increased, but is still in the minority.—MM The SEC officially proposed semiannual reporting. Just like your friend in a new relationship, you might be hearing from the Walmarts and Amazons of the world less frequently. Following up on President Trump’s demand to end quarterly reporting, the SEC formally introduced a proposal yesterday for twice-a-year company filings instead. Some business leaders have complained that mandatory quarterly reports, which have been required since 1970 and aim to provide transparency for shareholders, are time-consuming and promote short-term thinking. Proponents of the rule say that less-frequent reporting would lead to more market volatility. It could still take years for the rule to change.—MM AGENTS REPORTING FOR DUTY Coinbase says it’ll replace employees with AI Jason Armond/Getty Images Coinbase is following the biggest Silicon Valley trend since microdosing: announcing it's automating away jobs with AI. The crypto exchange Coinbase said yesterday that it is cutting 14% of its staff—equivalent to about 700 people—in part due to efficiency gains from AI. While Coinbase’s CEO, Brian Armstrong, said the company’s layoffs are a way to manage costs amid a crypto winter, he claimed AI will allow it to make due with fewer human workers: Armstrong said the company will rely on employees managing fleets of AI agents, and that it’s experimenting with one-person teams in which a single employee armed with AI performs the functions of engineers, designers, and product managers. He shared plans to reduce management layers to no more than five corporate rungs under the CEO. Innovation or desperation? Several tech companies, including Snap, Block, and Salesforce, recently said they’re reducing headcount due to AI automation. But some skeptics—including OpenAI CEO Sam Altman—argue that many companies are “AI washing” layoffs, aka blaming cuts that would have happened anyway on AI. Critics say that spinning staff cuts as part of innovation or efficiency gains (rather than, you know, business problems) is meant to appeal to investors. Big picture: Coinbase has had a rough go recently, as slumping crypto prices have reduced trading revenues.—SK Sponsored By The Points Guy Credit card rewards may change. If the Durbin-Marshall bill becomes law, it could have an impact on your credit card rewards. The bill could change the way merchants process payments, and The Points Guy says that could reduce credit card cash-back and travel rewards programs. Here’s what TPG predicts. PET PROJECT This furry AI companion may replace your dog Familiar Machines & Magic Is it a dog? A sheep? A sleep-paralysis barn owl demon? Zoologists are stumped. But it’s definitely the latest generative AI robot for your home—a life-like, pet-sized companion from Colin Angle, the former CEO of iRobot and creator of the Roomba. It’s from Angle’s new company, Familiar Machines & Magic, and it’s called a Familiar, the term for humans and animals that serve witches and vampires. And before you ask, no, the furry creature does not vacuum up scraps while being adorably ridden by your cat. So, what is the point of this product due out next year? Angle sees the Familiar—which is meant to be emotionally intelligent enough to respond to your mood and which doesn’t talk but can purr and meow—as a cure for loneliness. He told the Wall Street Journal, “I want to feel like the machine I’m building actually cares about me.” (Note: It doesn’t though.) He also thinks it can be useful in “high human connection roles,” like eldercare and parental support. When asked by the WSJ about a growing reliance on technology to satisfy emotional needs, Angle said the Familiar’s inability to speak will soften that potentially dangerous connection. The product is still in the prototype phase, and its price hasn’t been announced. But Angle said it will cost “around the same as pet ownership,” although he didn’t specify if that meant a purebred dog or a goldfish.—DL READER POLL Would you buy one of these robot pets? Yes, I’m lonely. No, begone foul beast! SAM’S STOCK OF THE WEEK Bucking the breakfast recession trend First Watch On Wednesdays, the Brew’s Sam Klebanov highlights a fascinating stock, commodity, or other asset that’s worth your attention. This company’s stock is sizzling harder than the eggs and steak it serves every morning. Shares of the elevated breakfast chain First Watch are up over 7% in the past month, and yesterday it surprised analysts with 17% revenue growth last quarter. It’s a bright spot in a bleak breakfast market: First Watch is growing as chains like McDonald’s warn that economic pessimism has Americans skipping eating out for their first meal of the day. The company cut the ribbon on 16 locations in Q1 and 60 new spots last year, making it the fastest-growing full-service chain in the US, according to Technomic. Analysts credit its emphasis on food quality and service professionalism with helping it outbreakfast rivals. But…while pro-stock watchers are enthused about the chain’s aggressive expansion, investors aren’t so sure. The stock is still down by 20% since the year began, and by over 50% from its 2024 peak.—SK Sponsored By iHerb How you fuel your body matters. That’s why iHerb works directly with trusted brands, skipping third-party sellers. From sports nutrition to beauty supplements, iHerb’s products are documented + traced from brand to customer. For select products, iHerb uses iTested, an accredited testing program verifying identity, purity, + more. Get 20% with code MBDAILY. NEWS What else is brewing Meta was sued by a group of publishers who allege that the tech giant illegally used copyrighted material to train its AI model, Llama. James Murdoch, the media investor and younger son of Rupert Murdoch, is reportedly in talks with Vox Media to buy its podcast network and New York Magazine. The FDA blocked publication of several studies that show that vaccines for Covid-19 and shingles are safe, the New York Times reported. Google, Microsoft, and xAI agreed to give the Trump administration early access to AI models to test their security before releasing them to the public. Delta said it will stop serving snacks and drinks on short flights this summer as airlines deal with rising fuel costs as a result of the Iran war. WHO suspects rare human-to-human transmission of hantavirus, which is usually spread by contact with rodents, was responsible for the deadly outbreak on a luxury cruise ship this week. The 2026 Tony nominations were announced yesterday, with The Lost Boys and Schmigadoon! leading with 12 nods apiece. RECS Wag: This weird ball wears your dog out faster than other toys.** Debate: The 100 greatest guitar solos of all time, according to Rolling Stone. Play: Hang with people around the world at this wholesome, interactive “cursor camp.” Grow: How to plan your backyard garden. Let there be light: Your room can look polished without being pricey. Quince’s textured curtains softly filter light, add rich texture, and come in blackout options. That’s a bright idea.* *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission. PLAY Word Search: The theme of this week’s puzzle is “Longest-tenured SNL cast members.” Play the Word Search here. Ship trivia We’ll give you the name of a ship (real or fictional), and you have to name the captain of said ship. Santa María Endurance The Jolly Roger Millennium Falcon The Nebuchadnezzar SHARE THE BREW Share the Brew, watch your referral count climb, and unlock brag-worthy swag. Your friends get smarter. You get rewarded. Win-win. Your referral count: 0 Click to Share Or copy & paste your referral link to others: morningbrew.com/r/?kid=eaab23a8 ANSWER Christopher Columbus Ernest Shackleton Captain Hook (Peter Pan) Han Solo (Star Wars) Morpheus (The Matrix) Word of the Day Today’s Word of the Day is: proponents, meaning “people who support or argue in favor of something.” Thanks to Brian from Hoboken, NJ, for the suggestion. Submit another Word of the Day here. 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