Constellation Brands Inc

Spirits on display in a UK bar in Cardiff, United Kingdom.Matthew Horwood | Getty Images News | Getty ImagesThe spirits industry held its market share edge over beer and wine for the second straight year in 2023, even as it showed little growth, according to new data released Wednesday.U.S. spirits revenue grew only a modest 0.2% last year to $37.7 billion, according to the Distilled Spirits Council of the U.S. annual economic report. Although the industry gained little total revenue, it outpaced beer and wine sales by…

Florida Gov. Ron DeSantis has told his government to investigate whether Bud Light's parent company breached its duties to shareholders as a conservative backlash continues to rage over the beer brand's deal with transgender social media influencer Dylan Mulvaney.DeSantis, who is running for the Republican presidential nomination, instructed Lamar Taylor, the interim executive director of the State Board of Administration, to immediately launch a review into "how AB InBev's conduct has impacted and continues to impact the…

Modelo Especial beer arranged in the Brooklyn Borough of New York, U.S., on Tuesday, Nov. 23, 2021.Gabby Jones | Bloomberg | Getty ImagesBud Light lost its top spot in the U.S. beer market last month, as the brand's sales sagged following a conservative uproar over its partnership with transgender social media influencer Dylan Mulvaney.Constellation Brands' Modelo led the market as it nabbed 8.4% of beer sales from retail stores in the four weeks that ended June 3, according to NielsenIQ data from consulting firm Bump…

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. Trimming tech Watch Constellation Brands Stick with Ford 1. Trimming tech, as Nasdaq climbs Equities were mixed Tuesday morning, even as positive sentiment around artificial intelligence continued to pull the tech-heavy Nasdaq Composite higher. After a big run in our tech stocks — led last week by AI powerhouse Nvidia (NVDA) — we decided to trim our positions in Advanced…

Constellation Brands is teaming up with Tastemade to form a content studio that will feed free ad-supported streaming platforms.Courtesy: Constellation BrandsConstellation Brands is pouring into the streaming business.The company, which owns beer, wine and spirits brands, is forming a partnership with media company Tastemade to create a content studio and produce shows that revolve around Constellation's brands. The companies called it a "multimillion-dollar, multiyear partnership," but declined to give specific terms.It…

Procter & Gamble (PG), Estee Lauder (EL) and Constellation Brands (STZ) can navigate any economic slowdown in the short term while offering long-term growth opportunities, according to Citi in a new research note. The bullish call on these consumer-tied companies aligns with our view and comes as defensive stocks have fallen out of favor in 2023, with many investors instead piling into beaten-down tech names. What Citi thinks Analysts at Citi chose our three Club holdings among their top-rated picks — initiating…

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. Stay wary of tech Wait to buy Constellation Stick with Wells Fargo 1. Stay wary of tech stocks Stocks rose Friday on signs wage growth is moderating , signaling the Federal Reserve is making progress in its fight to rein in inflation through higher interest rates. The S & P 500 climbed 1.6% in midmorning trading. However, Jim Cramer cautioned Friday that investors should…

Constellation Brands (STZ) could potentially implement a stock buyback program, CEO Bill Newlands said Thursday — a move we would welcome as shareholders in the alcoholic beverage maker. Newlands' comments came on the heels of Constellation reporting mixed 2023 fiscal third-quarter results earlier in the day, sending the company's stock price tumbling. Shares of Constellation closed down nearly 10%, settling at $208.68 apiece. During an interview with Jim Cramer on "Mad Money" Thursday evening, Jim pushed Newlands on…

A worker stacks cases of Constellation Brands' Corona beer for delivery at the Euclid Beverage LLC warehouse in Peru, Illinois.Daniel Acker | Bloomberg | Getty ImagesShares of Constellation Brands fell Thursday after the wine, beer and spirits company reported ongoing supply chain costs that offset sales growth in its beer category.The stock closed down nearly 9% Thursday.The company, which makes Corona beer and Svedka vodka, also lowered its earnings out look for the fiscal year. Constellation said it now projects…

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. Buy EL before day-end We like the NFL-YouTube deal Buying some more STZ 1. Buy El before day-end China will move to curtail quarantine requirements for overseas travelers next month, according to Bloomberg . This suggests that China could be reopening its economy faster than expected, which bodes well for Club holding Estee Lauder (EL). We believe that new Club members in…