Canandaigua Brands Inc

Canandaigua Brands Inc. shareholders have something to toast. The company's Class A shares rose Tuesday for the seventh-straight day on optimism that the biggest U.S. public winemaker's expansion into premium-priced wines will continue to bolster profit growth. Canandaigua, which makes Inglenook and Paul Masson table wines and distributes Corona beer in the U.S., rose $2 to $52.19. Though still down 10% on the year, the shares have gained 21% since June 21. The Class B shares rose $3.75 to $52.

Canandaigua Brands Inc. shareholders have something to toast. The company's Class A shares rose Tuesday for the seventh-straight day on optimism that the biggest U.S. public winemaker's expansion into premium-priced wines will continue to bolster profit growth. Canandaigua, which makes Inglenook and Paul Masson table wines and distributes Corona beer in the U.S., rose $2 to $52.19. Though still down 10% on the year, the shares have gained 21% since June 21. The Class B shares rose $3.75 to $52.

Nike Inc. is recalling 350,000 pairs of its Air Face Up men's basketball shoes after receiving about 35 reports that a rivet on the shoe had cut several consumers. For more information about the recall, call (800) 344-6453. * Canandaigua Brands Inc., a producer of wines such as Inglenook and Paul Masson, agreed to buy British cider maker Matthew Clark for $357 million in cash as it expands outside the U.S.

Canandaigua Brands Inc., the nation's second-largest wine producer, said its fiscal first-quarter profit rose 36%, continuing its turnaround. The Fairport, N.Y.-based company also announced a $100-million stock buyback. Net income rose to $13.6 million, or 70 cents a diluted share, from $10 million, or 53 cents, a year ago, beating analyst estimates by 2 cents. Sales rose 2.3%, to $312.9 million from $306 million. Sales of beer jumped 22%, offsetting a 5% decline in wine sales.

Other earnings, excluding one-time gains and charges unless noted: * Home improvement retailer Lowe's Cos. said its earnings jumped a better-than-expected 48% in the fiscal fourth quarter to $106.2 million, or 30 cents a share, 3 cents higher than forecasts. Sales at stores open at least a year grew 8.2%, and total revenue jumped 22% to $2.92 billion. * Nordstrom Inc. said fiscal fourth-quarter profit rose 13% to $66.

Two of California's largest vintners, Kendall-Jackson and Beringer Wine Estates, are discussing a merger that could lead to the creation of the country's largest premium-wine company, officials confirmed Tuesday.

In the rolling hills of Geyserville, Calif., Kendall-Jackson Wine Estates is bottling the first cases of a new wine--soft and fruity with just a hint of spice--that it sees as critical to the future of California's wine industry. It's called Collage--and with good reason. Instead of being made from a single variety of grape, such as cabernet or chardonnay, it is blended from a mix of grapes grown on the lower-cost outskirts of the wine country in Lake and Mendocino counties.