Oct 2- Constellation Brands Inc on Thursday said that it was expanding capacity at its brewery in Mexico to increase its share of the market for import beers in the United States. The company will acquire from Anheuser-Busch InBev. a glass production plant in Nava, Mexico for $300 million, pending approval from regulators. Last year, as part of ABInBev's...
The company, which sells Corona and Modelo beer in the United States, said net income fell to $196 million, or 98 cents per share, in the second quarter ended Aug. 31 from $1.5 billion, or $7.74 per share, a year earlier. The year-earlier quarter included a $1.6 billion non-cash gain from the acquisition of Grupo Modelo's U.S. beer business from Anheuser-Busch InBev.
A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.
Companies making headlines after the bell Tuesday:
Since the Dow Jones Industrial Average's recent low on November 15, 2012, the 12 stocks pulled from the blue chip index since 1999 have outperformed the Dow even with new highs.
The Dow is up 20 percent since the recent low on Nov. 15, but 12 stocks that have been kicked out of the index over the years are up an average of 30 percent.
With three out of five major U.S. companies missing revenue forecasts, a lot of fingers are pointed at European weakness.
The earnings train is about to leave the station, with reports due Tuesday from three Dow components, some transportation names and Apple.
It's make-or-break time for the first-quarter earnings season, and it comes just as the stock market is showing signs of strain.
The "Fast Money" traders share their final trades of the day.
Owens-Illinois Inc. is investigating potential bribery at its operations overseas, according to a document filed with the U.S. Securities and Exchange Commission on Friday. Owens-Illinois said it disclosed the probe to the U.S. Department of Justice and the SEC this month.
PERRYSBURG, Ohio-- Owens-Illinois reported a 28 percent drop in quarterly net income on Wednesday, as the economic slowdown in Europe weighed on the company's results. Sales fell 7 percent to $1.74 billion, compared with $1.86 billion in the same quarter of 2011. Sales to Europe sank 15 percent to $652 million compared with the year before.
NEW YORK-- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:. Avon Products Inc., up $1.17 at $17.39. Constellation Brands Inc., up $1.48 at $36.20.
*Goldman Sachs raises Owens Illinois to buy from neutral. *Goldman Sachs cuts MeadWestvaco to neutral from buy. Reuters Station users, click. 1568.
Take a look at some of Fridays morning movers.
NEW YORK-- Shares of Owens-Illinois gained 5 percent on Friday as a Goldman Sachs analyst boosted the glass container company's rating and price target, citing a recent change to its capital allocation strategy. THE SPARK: Alex Ovshey raised Owens-Illinois Inc. to "Buy" from "Neutral" and increased its 12- month price target to $28 from $20.
From the entire S&P 500, which stocks are analysts expecting to have the biggest pops? Find out!
Take a look at some of Thursday's morning movers.
Check out which companies are making headlines after-the-bell Wednesday:
Jim Cramer’s researcher, Nicole Urken, takes a look at some beneficiaries of low nat gas prices leading into earnings.