October 03, 2013 at 12:42 PM EDT
Wine Giant Constellation Brands' Beer Run Paying Off
Constellation Brands' (STZ) shares jumped as much as 4% intraday as its Grupo Modelo acquisition helped the company more than double revenue in its fiscal second quarter. The world's largest wine maker said Thursday it earned 96 cents a share ex items, up 35% from last year and 8 cents better than views. Revenue surged 109% to $1.46 billion, but missed forecasts for $1.53 billion. Constellation picked up the Corona and Negra Modela brands with its
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