Constellation Brands, Inc. STZ shares are trading higher by $8.10 (4 percent) at $209.28 in Thursday's session.
The catalyst for the rally is its Q2 EPS beat of 41 cents, which may not compare with to the estimate, along with a slight sales beat. The company significantly raised FY adjusted EPS from the $7.90-$8.10 range $8.25-$8.40 vs. estimates of $8.18.
Ats of Noon EST, Constellation Brands made a high and low for the session in the first 10 minutes of action. After a higher open, it continued in that direction before peaking at $213.40 and reversed course. Profit-takes nudged the stock to $207.00 before rebounding back into the $209.00 handle.
Even the low for the day is significantly above its former all-time high that was made in September at $205.12.
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