Constellation Brands Stock Falls as Results Hurt by Weak Wine and Spirits Sales

Key Takeaways Constellation Brands, the maker of Corona and Modelo beers, posted mixed second-quarter results as wine and spirits sales sank. The maker of Modelo Especial and Corona beer posted strong overall beer sales in the quarter. CEO Bill Newlands said the beverage alcohol market has been negatively impacted by the "current macroeconomic backdrop." Constellation Brands (STZ), the maker of Corona and Modelo beers, posted mixed second-quarter results as wine and spirits sales sank. The company reported ...