Cheers! Constellation Rises as Wine Sales Beat
Cheers! Constellation Rises as Wine Sales Beat
Oct 6, 2010
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Shares of wine producer Constellation Brands (STZ), which also distributes Negra Modelo beer, are on the rise this morning, up 55 cents, or 3%, at $18.31 after the company this morning beat fiscal Q2 expectations.
Revenue for the three months ended in August was down 1.6%, at $863 million, but beat the average $856 million estimate of analysts. Profit per share of 52 cents was 3 cents better than expected.
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