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Constellation Brands Sharply Lower Despite Q3 Beat And Raised Guidance

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Constellation Brands Sharply Lower Despite Q3 Beat And Raised Guidance
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Constellation Brands, Inc. (NYSE: STZ) shares are trading lower by $9.00 at $148.90. In the case of the good news not being good enough, the issue trading is in the red despite a solid Q3 beat for EPS and revenues, along with raised FY 2017 guidance.

After a lower open, it managed a brief bounce to $151.35 before continuing its move lower. In the first 10 minutes of the session, it fell all the way to $144.00 before mounting a rebound. That low matches its December 2 low to the penny.

Since reaching that depressed level, it has returned to and consolidating at the $149.00 area.

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