diageo

The country's troubled history with alcohol -- particularly Prohibition -- had a huge impact on what consumers expect from their alcoholic beverages. The bland, blended spirits that became popular after Prohibition ended are finally giving way to today's thirst for unique and locally made alcoholic beverages.

The holidays usually bring good cheer to purveyors of wine and spirits. But looming concerns about consumer spending are keeping some names off our wish lists. Still, the worst of the downturn seems to be behind the industry, making some of the bigger names worth a sniff.

Don't bet on the stock continuing its upward spiral. Some close watchers of Diageo and the spirits market say the share price is doomed to sputter. "We expect the stock to perform well below the broader market," says Zacks Investment Research.

Irish eyes are smiling -- and maybe drooping a little bit. Ireland's unofficial national drink, the dark stout with the creamy head known to the world as Guinness, turns 250 this week. Pubs across the Emerald Isle are expected to be packed with revelers celebrating Arthur Guinness, who got an...