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Actionable news in STZ: CONSTELLATION BRANDS Inc,

Constellation Brands Stock Pops Following Earnings Beat

Constellation Brands Inc (STZ) shares were up 7.2% to $196.93 in early morning trading Thursday after the beer and spirits distributor reported first-quarter earnings of $2.34 per share, ahead of analysts' consensus expectations of $1.98 per share.

The company reported a 54% increase in profits from the year-ago period.

Constellation also raised its full-year earnings forecast, due in part to strong expectations for its beer business, to between $7.90 and $8.10 per share from its previous view between $7.70 and $8 per share.

The company also reported revenue of $1.94 billion, slightly below Zacks' consensus estimate of $1.95 billion.

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