ADVFN - Advanced Financial Network.
HOME» NYSE » C » STZ Stock Price » STZ Stock News

Constellation Share News

 Constellation Brands Stock Price
STZ Stock Price
 Constellation Brands Stock Chart
STZ Stock Chart
 Constellation Brands Stock News
STZ Stock News
 Constellation Brands Company Information
STZ Company Information
 Constellation Brands Stock Trades
STZ Stock Trades

MARKET SNAPSHOT: U.S. Stocks Rise As Dow Nears 11,000

By Donna Kardos Yesalavich U.S. stocks climbed towards weekly gains on Friday, with the energy sector lifted by upbeat earnings forecast from Chevron and a bigger-than-expected increase in wholesale inventories. The Dow Jones Industrial Average (DJI) was up 36 points, or 0.3%, at 10,963 recently, moving closer to the 11,000 level for the third time this week. The Nasdaq Composite (RIXF) climbed 0.4%. The Standard & Poor's 500 index (SPX) advanced 0.3%, with the energy sector leading its gains. On the Dow, Walt Disney & Co. (DIS) was the measure's best performer, up 1.7%. Chevron Corp. (CVX) was also strong, up 2.2%, after the oil giant said it expects first-quarter profit to be higher than the previous quarter, driven by higher earnings from its production and exploration operations, which are benefiting from higher commodity prices. Exxon Mobil Corp. (CVX) shares climbed, up 2.2%. Chevron's announcement, combined with strong sales results posted by retailers on Thursday, helped boost expectations for the earnings reporting season, which unofficially kicks off Monday with a report from Alcoa. However, Alcoa Inc. (AA) was the Dow's weakest component, down 4%, after J.P. Morgan Chase cut its investment rating on the stock to "neutral" from "overweight." The firm cited lower earnings expectations based on a lower aluminum price forecast. Boosting sentiment, the Commerce Department said U.S. wholesalers' inventories rose 0.6% in February, topping economists' expectations. Sales of U.S. wholesalers were up 0.8% to a seasonally adjusted $338.66 billion. It was the eleventh straight monthly increase in sales. Wall Street analysts had expected inventories to rise by 0.3% in February. But an even bigger focus for the market are the upcoming first-quarter earnings reports. Investors will be looking to the results to help justify stocks' climb to 18-month highs. "Corporate earnings will be key," said Bill Quinn, chairman of American Beacon Advisors. "I think corporate earnings will be pretty good," he added, noting revenues have been improving and with companies still keeping down costs, margins and earnings should also come in strong. Still, Quinn said, "I don't think it's any indication that things are going to take off in any significant manner." He cited concerns over interest rates and still-high unemployment. The dollar weakened against the euro as concerns over Greece's debt troubles eased. Medley Global Advisors stated in a report to clients that European Union officials have agreed on terms for funding a backstop deal for Greece. The report from New York-based think-tank said funding to be provided to Greece will have interest rates "well below those prevailing in the market." EU officials could not be immediately reached for comments on the Medley Advisors report. However, Fitch Ratings cut its issuer default ratings on Greece to BBB-, the lowest investment-grade rating, citing "the intensification of fiscal challenges in response to more adverse prospects for economic growth and increased interest costs." The ratings agency also noted ongoing uncertainties about the government's financing strategy. The dollar was also weaker against the yen and the U.S. Dollar Index (DXY) - representing the U.S. currency against the basket of six other currencies - fell 0.6%. Treasurys declined, pushing 10-year notes (UST10Y) to a yield of 3.87%. Crude-oil futures slipped below $84.41 a barrel, while gold futures settled at afresh four month highs. Among stocks in focus, Constellation Brands (STZ) fell 3.3%. The wine maker's fiscal fourth-quarter sales dropped, and its forecast for earnings in the new fiscal year missed analysts' views. Massey Energy Co. (MEE) climbed 1.5%, after the coal mining company said it will increase production at its other coal mines, although it won't be able to fully replace planned output from the West Virginia mine shut down by a fatal explosion this week, according to a federal filing. The stock is still down 11% for the week.

Stock News for Constellation (STZ)
11/21/201510:00:03Boston Beer Co Inc Has Nothing to Fear From the Budweiser-Miller...
11/19/201516:55:37Constellation Brands Prices Offering of Senior Notes
11/19/201515:30:07Instant Analysis: Constellation Brands' $1 Billion Craft Beer...
11/17/201514:00:03Is This Big Beer Merger Too Big to Pass?
11/16/201510:40:00Constellation to Buy Ballast Point for $1 Billion
11/16/201509:04:23Leading Craft Brewer Ballast Point Joins Constellation Brands
11/16/201509:04:21Leading Craft Brewer Ballast Point Joins Constellation Brands
11/04/201504:00:00Deadline for AB InBev, SABMiller Deal Extended
11/03/201518:10:00AB InBev, SABMiller to Ask Another Extension for Takeover Offer
11/01/201507:01:085 Top Stocks to Buy In November
10/31/201508:15:03Constellation Brands, Inc: Taking on Debt the Old-Fashioned Way
10/30/201508:50:38Constellation Brands Employees Fight Hunger During Week-Long...
10/26/201516:05:00MicroStrategy Announces Third Quarter 2015 Financial Results
10/25/ Daily Round Up 10/23/15: THC, ACAT, VEEV...
10/23/201516:37:25Constellation Brands Inc. Statement on Sands Family Stock and...
10/15/201510:45:03AB InBev and SABMiller: What Investors Need to Know About One...
10/11/201508:18:30Beer Continues To Do The Heavy Lifting For Constellation Brands
10/07/201509:20:00Constellation Brands Profits Double
10/07/201507:30:16Constellation Brands Reports Second Quarter Fiscal 2016 Results
09/02/201509:30:30Constellation Brands Raises Record $1 Million for The V Foundation...

Constellation Brands and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations