Campari Surges in Best Results Day in a Decade, Squeezing Shorts

Italian distiller Davide-Campari Milano NV is giving bearish speculators a run for their money.

On a day after the spirits maker reported better-than-expected profit and revenue for the first half of the year, the shares surged as much 9.5%, squeezing investors who have heaped on bets against the firm. It’s the company’s best post-earnings reaction since at least early 2015, according to data compiled by Bloomberg, while trading volume was more than double recent averages.