Constellation Brands Stock Rebounds on Earnings Beat
Constellation Brands, Inc. (STZ) reported better-then-expected earnings before the markets opened this morning, and shares are headed higher.
The owner of many brands of beer, wine and spirits – including the popular Corona and Modelo beer franchises – is seeing its stock head for a test of its 200-day simple moving average at $194.86.
Constellation Brands Stock Is Up Because America Loves Beer and Investors Love Marijuana
Beer and wine sales at Constellation Brands led their industry in the fiscal year ending February. But when the company reported earnings this morning, the cash it made from booze was dwarfed by gains on its investment in the cannabis business Canopy Growth.
March Jobs Report: Here’s What to Watch For
After a lackluster February — just 20,000 jobs added — the report for March will be closely examined, but analysts expect hiring to have bounced back.
The Labor Department will release its monthly estimate of hiring and unemployment for March on Friday at 8:30 a.m. Eastern time.
The jobs report is always a prime moment to assess the strength of the economy, but this one may get even more attention than usual. It will reveal whether the unexpectedly weak job creation in February — just 20,000 new jobs after months of much higher tallies — was an anomaly.
UTX stock trading into a very clean setup and new swing trade.
A solid move above the 200 sma, and finally getting above the $130 level with volume.
I’m looking to enter a new long @ $133.25 with a stop loss on a close below $130.
Profit target comes in at $142.