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Constellation Slightly Below Wall St. Forecasts

Constellation Brands Inc, the world's largest wine company, posted lower-than-expected quarterly earnings on Tuesday after higher grape costs hurt margins. Yet the maker of Robert Mondavi and Ravenswood wines raised its forecast for the full fiscal year, saying more attractive financing terms for its recent beer acquisition should lead to lower interest expense. Its shares fell 0.3 percent to $53 in early trading. (CNBC)