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Constellation Brands (STZ -5.6%) takes a hit after its FQ3 earnings miss the mark on dwindling...

Constellation Brands (STZ -5.6%) takes a hit after its FQ3 earnings miss the mark on dwindling sales and higher promotional expenses. Profit dropped 25% Y/Y as the alcoholic beverage distributor posted a 27% Y/Y decline in sales, due in large part to the divestiture of its Australian and U.K. wine businesses and overly cautious consumer spending.
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