Constellation Brands Sharply Higher After Q1 Beat

Constellation Brands, Inc. STZ shares are trading higher by $12.40 (6.5 percent) at $196.08 in Thursday's session.

The catalyst for the rally is a Q1 EPS beat of 36 cents, although revenues came up shy by $24 million.

After much higher open, far above its former all-time high of $186.06, it rallied only another 8 cents to $197.41 and then reversed course. The ensuing decline has taken the stock to $193.30, but is now attempting to remain in the $196.00 handle.