One of the outstanding issues regarding the excitation of magnetosonic waves has been the observational evidence that obliquely propagating waves are dominant at comets and planetary foreshocks despite the predictions of linear theory that maximum growth occurs at parallel propagation. To address this issue, we have conducted a detailed linear theory using a beam-ring distribution function. The results have shown that such distribution functions are associated with four separate instabilities. Two of these instabilities are similar to the right hand resonant ion/ion and the non-resonant instabilities which are also present in the case of a field aligned beam. The other two instabilities are associated with the presence of ring part of the distribution function. One of these instabilities excites magnetosonic waves with maximum growth in the oblique directions. The other excites Alfven waves with maximum growth in the oblique directions. The importance of the former instability is that it may explain the oblique nature of the magnetosonic waves observed at planetary foreshocks and comets. In order to understand the nonlinear properties of these various instabilities, we have also conducted 2-D hybrid (particle ions, fluid electrons) simulations. We have found that when the beam density is sufficiently large so that the non-resonant instability has the largest growth rate, these waves dominate the initial wave power in the system. At later times, however, the obliquely propagating magnetosonic waves become dominant. Another important finding was that when the two instabilities which excite magnetosonic waves have the largest growth rates, the system is dominated by the obliquely propagating magnetosonic waves. This is despite the fact that the largest growth rate for one of the instabilities occurs in the parallel direction. The exact cause of this is not currently understood and is under investigation.