logo
Plus   Neg
Share
Email

Constellation Brands Remains Firmly Positive After Initial Jump

Shares of Constellation Brands, Inc. (STZ) continue to see significant strength in late-day trading on Thursday after gapping open sharply higher. After reaching a three-month intraday high, Constellation Brands has given back some ground but remains up by 5.5 percent.

The initial jump by Constellation Brands came after the alcoholic beverage company reported fiscal second quarter adjusted earnings of $2.87 per share compared to analyst estimates of $2.60 per share.

Constellation Brands also raised its full-year earnings guidance to $9.60 to $9.75 per share from its previous forecast of $9.40 to $9.70 per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Viacom Inc. and AT&T Inc. said Monday they have reached a new carriage deal, averting a programming blackout that would have left AT&T's more than 24 million pay-TV customers without Viacom channels such as MTV, Comedy Central, Paramount and Nickelodeon. The renewed agreement will keep these Viacom channels on AT&T's DirectTV and U-verse pay TV services. Tribe, a blockchain accelerator backed by Singapore government, announced its partnership with BMW Group Asia, Intel and Nielsen. Tribe Accelerator said the three companies will share their knowledge and subject expertise in their respective fields with Tribe's startups. The companies will help build an inclusive ecosystem "ready for industry 4.0." MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing.
Follow RTT