Investors welcomed news that the U.S. economy added 157,000 jobs last month, sending the Dow above 14,000 for the first time since 2007.
Stocks fell, as a batch of disappointing corporate earnings and a rise in first time jobless claims eventually overtook investors' impulse to buy.
CNBC's Bob Pisani tracks the drama from the floor of the NYSE, as shares of Constellation Brands prepares to resume trading.
The Department of Justice plans to sue to block Anheuser-InBev's proposed purchase of the rest of the Mexican brewer Grupo Modelo, a move that jeopardizes Constellation Brands' plans to fully acquire Crown Imports.
Take a look at some of Wednesday's midday movers:
The CEO behind such brands as Corona, Svedka and Manischewitz said a late-2012 slowdown was due to "fiscal cliff" blues.
Stocks ended higher in thin trading Wednesday, after Dow component Alcoa kicked off the fourth-quarter earnings season on a positive note.
Rob Sands, president & CEO of Constellation Brands, sizes up wine and beer sales.
U.S. stock index futures were higher Wednesday after Dow component Alcoa kicked off the earnings season on a positive note.
Stocks kicked off the new year with a bang! But the party may be over once earnings season kicks into full gear.
A six-pack of stories that have the world of beer, wine and spirits buzzing this week, including the implication of beer taxes, consolidation in the wine industry and a ballsy brew.
Does offering extra cash to shareholders improve a company's stock performance? Not necessarily.
Compared to the same period a year ago, consumer discretionary and financial companies have taken the lead, showing EPS growth of 8 percent and 5 percent, respectively.
"Neither too early, nor too late; neither too hot, nor too cold, 2012 looks to be the' Goldilocks' vintage, where everything is just right," said Christopher Howell, general manager of Cain Vineyard and Winery, referring to the story book character. Winemakers in Oregon, Washington, New York state and Canada are also excited by this year's harvest.
Oct 8- Constellation Brands Inc:. *UBS raises Constellation Brands Inc price target to $42 from $40;. Reuters Station users, click. 1568.
Oct 8- Constellation Brands Inc:. *Stifel Nicolaus raises Constellation Brands Inc price target to $42. Reuters Station users, click. 1568.
Shares Constellation Brands surged more than 4 percent on Friday leaving the stock up 75 percent for the year after strong quarterly earnings.
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.
A big drop in the unemployment rate wasn't enough for investors Friday. The Labor Department said the unemployment rate had declined to 7.8 percent, its first dip below 8 percent in nearly four years. The drop to 7.8 percent in the unemployment rate "really is not a big game-changer," said Peter Cardillo, chief market economist at Rockwell Global Capital. "
Constellation Brands president & CEO, discusses his company's strong earnings, why the company is so optimistic about its Mexican beer brands, and whether a slowing economy is causing people to drink more.