Investors Toast Constellation's Buyback

Shares climbed Monday after the wine and spirits company said it would repurchase $421 million in stock

Bar patrons are fond of buybacks, and it seems investors in alcoholic beverage companies are too. Shares of No. 1 wine producer Constellation Brands (STZ) climbed May 7 after the company announced a stepped-up share repurchase and kept its 2007 earninmgs guidance steady.

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