News Recap: Lucas Energy (LEI) & Constellation Brands (NYSE:STZ)

Ryan Morris and Josh Young were unanimously elected to serve on the board of directors of the company, by the board of directors for Lucas Energy, Inc.(NYSEAMEX:LEI), independent oil and Gas Company.

Ryan J. Morris is the Managing Member of Meson Capital Partners LLC, and Joshua D. Young is the founder and portfolio manager of Young Capital Management.

The largest shareholders of Lucas with a combined stake of over 4 million shares, including 337,500 shares underlying warrants are Mr. Morris and Mr. Young. This represents more than 16% of the total outstanding shares.

For the recent 800,000 share private placement of Lucas common stock, these affiliates participated in full.

Lucas Energy, Inc., a Nevada corporation, is independent oil and Gas Company based in Houston, Texas, which acquires underdeveloped oil and gas properties, restores production to the properties, and looks for underlying value.

Shares of LEI fell 7.60% to $2.07.

Constellation Brands, Inc.(NYSE:STZ), the wine and spirits maker revealed a 23 percent fall in second quarter earnings on Friday, but surpassed the Wall Street expectations for adjusted profits and full year guidance.

Though there was a rise by 3 percent initially, the stock lost its momentum.

Compared with a profit of $162.7 million, or 76 cents a share, a year earlier, Constellation earned $124.6 million, or 67 cents a share, for the last quarter.

 The expectation of Wall Street of 54 cent was easily surpassed by Constellation as it earned 71 cents a share excluding one- time items.

The analyst consensus call for sales was $710 million compared to which the sale was of $698.5 million, a rise of 1.2 percent. Gross margins slipped to 40.8% from 41%.

Forecasts for fiscal 2013 by Constellation are, for EPS of $1.98, Non-GAAP EPS of $2.00 to $2.10, GAAP EPS of $1.87 to $1.97.

Constellation struck a deal with Grupo Modelo SAB de CV’s stake in Crown Imports for $1.85 billion for acquisition of the latter in summer.

A surge of nearby 70 percent in Company’s share was seen so far this year.

Shares of STZ jumped 3.69% to $36.