Constellation Brands Sours on Wine Sales

Constellation Brands STZ shares fell sharply Thursday as the wine company booked sluggish quarterly sales. The distributor of Robert Mondavi wine, Svedka vodka and Corona beer posted net income of $139.3 million, or 65 cents per share, more than tripling year-earlier profits of $44.1 million, or 20 cents per share, thanks to fewer charges and a lower tax rate. That beat analysts' consensus call for earnings of 62 cents per share. Continue reading the article.