Looks like Constellation Brands (STZ) met earnings expectations, but they have tightened their earnings range for 2007 from $1.72-1.76 from their previous estimate of $1.72-$1.80 due to intense competition in U.K. market. The stock is likely to sell-off. So, which Constellation is STZ today? I vote for Ursa Major, the Great Bear. Ugh.
*** Edit #1 ***
Well, the market has now been open for about 10 minutes, and STZ isn't down all that much. It did open near $27, but now trades down roughly 3%. I'm okay with that. Their conference call starts in about 20 minutes. I guess we'll find out more about the quarter at that time.
However, we do have a big winner today... DEB Shops (DEBS). It is currently trading up over 8% on great Same Store Sales figures (+10% vs a -6.8% estimate by a lone analyst) and reporting an upward revision of their earnings and revenue estimates. Go DEBS.
American Eagle Outfitters (AEOS) is trading down today despite very strong SSS figures (+19% vs 11.5%) and an upward revision of their earnings estimates. Talk about good news already priced in.
Abercrombie and Fitch (ANF) also released its SSS numbers today. They, too, came in ahead of expectaions (+10% vs estimated 6.5%). And, they also upwardly revised their earnings numbers. Unlike AEOS, this news was welcomed by investors, as the stock is now trading higher by almost 4%. Go Teen Retail, Go!
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