The Buzz
All markets and investing news all the time

Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7

Item specifics

New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Brand: mollini
MPN: Does not apply

Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7
Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7 -

The beer trade has been a good one for Constellation.

Bottoms up! Constellation is cashing in on America's love affair with Corona.

Shares of Constellation Brands (STZ) opened sharply higher Wednesday after the beer and wine company reported strong quarterly results, although the stock has now fallen back.

The buzz kill came after Constellation executives said on a conference call with analysts that the cost of expanding a brewery in Mexico would be much higher than previously expected.

The company raised its estimate for the cost of upgrading its Nava brewery to a range between $900 million and $1.1 billion, up from the previous estimate of between $500 million to $600 million. So far, Constellation has spent about $140 million on the brewery.

Robert Ryder, Constellation's chief financial officer, tried to put a positive spin on the news.

"Despite the increased cost to build out the brewery, our improved commercial results should keep our cash flow and delivering goals intact," he said.

Constellation said net income surged 92% in the fourth quarter to $157 million, or 79 cents per share. Analysts were expecting the company to report earnings of 76 cents per share, according to FactSet.

Corona is the best-selling imported beer in the United States, according to Constellation CEO Rob Sands.

Sales rose to nearly $1.3 billion, thanks largely to about $600 million from Crown, the division that distributes Modelo brand beers, including Corona, in the United States.

"We had a great year, driven by our beer business," Sands told analysts on a conference call today.

Constellation paid $5.3 billion to take full control of Crown last year as part of a complex deal between Anheuser-Busch InBev (BUD) and Mexico's Grupo Modelo.

The deal was held up in court after the U.S. government sued to block it over anti-competitive concerns. But regulators relented after AB InBev and Modelo gave Constellation "perpetual rights" to distribute the popular Corona beer in the U.S. market and tossed in a major Modelo brewery.

Related: Why six-packs are pricier in some markets

So far, Constellation's bet on Mexican beer is paying off.

Net sales in the beer segment rose 13% in the fourth quarter " due to volume growth driven by strong consumer demand," the company's report states.

The strength in beer helped offset softness in sales of wine and spirits, which grew only 1% in the quarter.

Constellation expects beer sales to continue growing in its current fiscal year and is looking for income to grow "in the low to mid 20 percent range."

That should lead to better-than-expected earnings. Constellation is now targeting earnings of between $3.75 to $3.95 per share for the full year, which would translate to earnings growth of up to 27%.

Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7 -
About This Author
Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7 -
Ben Rooney
Staff writer, CNNMoney

Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: @ben_rooney

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, Urban Outfitters may be finally turnings things around. But $URBN up 17%? Seems a bit excessive, no?
Most Popular
You won the $1.5 billion Powerball! Here's your tax bill
Women's Clarks Women's UN Lory Loafer FlatsWomen's Minnetonka Women's Full Leopard Mocassin FlatsWomen's Minnetonka Women's Ibiza Sandal Flats , Women's Franco Sarto Women's Valera2 Flat FlatsWomen's Yellow Box Womens Brenda Flats Flats , Women's Yellow Box Women's Mariko Sandal Flats , Women's Jessica Simpson Women's Lainie Skimmer FlatsWomen's Steve Madden Womens Chancce FlatsWomen's Jessica Simpson Karalia Women's Sandal Flats , Women's Trotters Women's Ash Loafer,Fudge,7 N Flats , Women's Naturalizer Women's Rhapsody Gladiator Sandal Flats , Women's Nine West Women's almamater Sandal FlatsWomen's Nine West Women's Tikihut Sandal FlatsWomen's Very Volatile Women's Finesse Pump Flats , Women's CLARKS Women's Cheyn Ava Oxford FlatsWomen's Skechers Women's BOBS B-Loved Flat FlatsWomen's Jessica Simpson Women's Mandayss Flats , Women's Bernie Mev Womens Rigged Force FlatsWomen's Clarks Women's Kessa Myrtle Flat Flats , Women's Skechers Women's Moda-Slide Thru Flats , Women's Jessica Simpson GENNYFER Flat Flats , Women's Emmie Leopard Lucky Brand Flats , Women's VANELi Womens Adonis FlatsWomen's Geoffrey Beene Size 6M Flats Flats , Women's Steve Madden Women's Rubby Flat Flats , Women's L'artiste Tayla Mary Jane (Brown) Flats , Women's Naturalizer Women's Clarissa Slip-on Shoe FlatsWomen's NEW MIISTA WOMENS LOAFER Flats , Women's NEW STEVE MADDEN WOMENS FEATHER Flats
Powerball winner can stay anonymous, judge rules
Counterfeit goods market is booming and becoming more dangerous
Kodak ditches digital cameras, will focus on photo printing Women's High Heel Mid Calf Ankle Snow Boots Solid Fur Furry Metal Decor Side ZipAnne Klein Women's Wava Platform Shooties Black Leather Pumps Size 7 1/2 , Nocona Ladies Western Cowgirl 98665 Leather Boots Size 5.5 B (Lot E) , Spot On X1213 Ladies GLOW IN THE DARK Pull On PVC Ankle Height Wellies FESTIVALS , Clarks Womens Black Leather Ankle Boot Shoe - Size 7.5M , Women Leather Autumn Retro Round Head Double Zipper Flat Martin Riding BootsNAUGHTY MONKEY HAVOC country western soft suede taupe leather ankle boots 11 ** , KEEN Brighton Low Slate Leather Winter Insulated Waterproof Boot Women 6 GreenKEEN Women's CSA Canby WP Aluminum Toe Work Boots GARGOYLE/VAPOR Size 6M , new lady Black 5.5"Stiletto High Heel Quilt Round Toe Sexy Over Knee Boot Size 9RARES BOTTES FEMME KICKERS MARRON TBE T 37 A € ACH IMM FP RED MONDIAL RELAYDiba Womens Pilot Closed Toe Ankle Fashion Boots, Black, Size 7.0 7sS7womens lucky brand fringe boots 8.5SOCOFY Retro Ankle Genuine Leather Boots Floral Zipper Booties Women's 40SHOE DAZZLE FAUX LEATHER OTK STILETTO FAUX POCKET ZIPPER TRIM DETAIL BACK V CUT , Driver Club USA Women's Fashion Shoes Palm Beach Perforated Tassel Loafer Size -Dolce & Gabbana Women’s Printed High-Top Sneakers , ASICS GT-2000 5 Running Shoes, Women's - Size 10.5, BlueAsics Gel-Kayano 19 Women's Running Shoes - Pink/Purple/Blue - Sz 8SKECHERS Flex Fit Black Women's 11667 BKAQ Casual Athletic Shoes [166J]VINCE CAMUTO BARITA LEATHER BLACK RHINESTONE SHOES SIZE 10 M - NEWPuma Basket Mid WTR Puma White Women's 361156 03NEW SKECHERS Flex GRATIS AIR GRAY Cooled Memory Foam Sneakers Shoes 8.5 MNew Balance W's Hiero V2 Trail Running Shoe, Typhn/Sprcl/Alpha Pink, 7.5 B USWomen's Clarks Women's Ashland Brook Oxford Flats , Women's Bussola Women's Petra Flats , Women's a + black boots new Boots , Women's House of Harlow Women's Shoes BootsSummer Women Platform Wedge Leather Sport Sandals High Heel Sneakers CreepersPUMA Women's Ignite Evoknit 2 Wn Sneaker - Choose SZ/Color
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Women's Vietane mollini 27744 Vietane (Nude) (Nude) Flats 6d8e6b7 Flats
Powered by VIP.