Investing.com - Beer may be gaining popularity again in America, with Constellation Brands (NYSE:STZ) reporting an increase in sales of Corona and Modelo in the region.
The company reported sales and profit in the fiscal fourth-quarter that beat estimates, with beer sales rising 9.3% to $1.09 billion.
Constellation Brands jumped 4% in midday trading on Thursday.
The company announced on Wednesday that it is selling 30 of its cheaper wine and spirit brands to E & J Gallo Winery for $1.7 billion, as it turns its focus on premium brands.
Other alcohol companies were also up midday, with Anheuser Busch Inbev (NYSE:BUD) rising 1% and Molson Coors Brewing (NYSE:TAP) gaining 1.6%.