Constellation Brands News

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So far so good, as we start the third quarter. Let's see where the action is for traders.

It looks like a decent start to the second half of the year. Tomorrow morning's monthly jobs number may keep a lid on today's action.

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Wine and spirits maker Constellation Brands, which owns Mission Bell Winery in Madera, says its fiscal first-quarter profit slid 85%. The decrease was partly due to increased restructuring charges, but adjusted results still beat Wall Street expectations.

The first day of Wall Streeta TMs third quarter brought gains to the major indices as the week looks to a holiday-shortened end.

Constellation Brands, Inc first quarter sales fell 15% to $791.6 million and net income fell 85% to $6.5 million or 3 cents a share.

Constellation Brands says its fiscal first-quarter profit slid 85 percent partly on increased restructuring charges, but adjusted results still beat Wall Street expectations.

Among the companies whose shares are expected to see active trade in Wednesday's session are Constellation Brands Inc., General Mills Inc., and Sealy Corp.

Reported oversupply for the U.S. parent of Australia's second largest wine company is resulting in wider CDS and a substantially higher liquidity despite bullish sector trends, according to Fitch Solutions in its latest update on Global CDS Spreads/Liquidity Scores for companies schedule to come out with earnings announcements in the coming week.

Things will be pretty quiet again on the earnings front during this holiday-shortened week, so not much chance of fireworks there.

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Richard Sands had a good 2008. The chairman of Constellation Brands Inc., the wine and spirits giant, saw his compensation rise 69 percent from the previous year, to slightly more than $3 million.

Constellation Brands' internal control over its financial reporting has been cast in doubt after auditors KPMG expressed doubts in a review, with the parent of Constellation Wines Australia, Australia's second-largest wine company, also admitting to deficiencies its in local Australian winery inventory systems.

The July issue of Decanter, the hugely influential magazine published in over 90 countries, has news that should warm any Indian wine lover's heart.

A campaign for Corona beer that will reprise some of the brand's advertising from the 1990s will be rolled out this summer.

A major U.S. alcohol supplier has agreed to settle Federal Trade Commission charges that its advertising for the caffeinated alcohol drink Wide Eye was deceptive, unsubstantiated, and in violation of federal law.

A team of 12 fundraisers for a 2,800-seat theater at Renaissance Square was introduced in a news conference this morning.

And there are some rather surprising results. The top three are: the chairman of Constellation Brands, Richard Sands; The Wine Advocate 's famed critic, Robert Parker; and the EU Commissioner for Agriculture, Marianne Fischer Bold.

THE global wine giant Constellation Brands, which owns the Hardys label in Australia, has started a major reshuffle of its senior international management, putting the president of its European arm in charge of the Australian business.