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American alcohol company
Constellation Brands, Inc. is an American producer and marketer of beer, wine, and spirits. A Fortune 500 company, Constellation is the largest beer import company in the US, measured by sales, and has the third-largest market share of all major beer suppliers. It also has sizable investments in medical and recreational cannabis through its association with Canopy Growth. Based in Rochester, New York, Constellation has about 40 facilities and approximately 9,000 employees.
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Constellation Brands (STZ) stock fell 6% in premarket trading on Wednesday despite the Corona and Modelo beer maker beating Wall Street
Constellation showed some key green shoots as it aims to return to steady growth.
Constellation Brands beat second-quarter forecasts, but a 0.6% dip in beer depletions has the Modelo and Corona maker leaning on occasions, careful pricing and its SpikedAde deal.