Molson Coors Brewing (TAP) dropped more than 6% on Wednesday after the US-Canadian beer company reported first-quarter results that missed expectations.
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The company reported adjusted per-share earnings of $0.52, below Capital IQ’s consensus of $0.58 but higher than $0.48 in the prior-year quarter. Revenue was $2.3 billion, down slightly from last year’s $2.33 billion. The Street had expected $2.33 billion.