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Constellation Brands shares pop 2.6% premarket after earnings blow past estimates

Constellation Brands shares pop 2.6% premarket after earnings blow past estimates

Constellation Brands Inc. shares rose 2.6% in premarket trade Thursday, after the drinks company blew past estimates for its fiscal second quarter. The company posted a net loss of $1.151 billion, or $6.30 a share, for the quarter to Aug. 31, after earnings of $1.5 million, or 1 cent a share, in the year-earlier period. Adjusted per-share earnings came to $3.17, well ahead of the $2.82 FactSet consensus. Sales rose to $2.655 billion from $2.371 billion a year ago, also ahead of the $2.508 billio