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Cheers! Constellation Rises as Wine Sales Beat
Oct 6, 2010
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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