The Buzz
All markets and investing news all the time

Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac

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
Style: Fashion - Ankle
Width: Medium (B, M) US Shoe Size (Women's): 5.5
Color: Gold Heel Height: High (3 in. and Up)
Brand: Bonnibel Material: Snakeskin

Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac
Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac -

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%.

Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac -
About This Author
Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac -
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
crocs Womens Rain Floe Boot- Pick SZ/Color. , Steve Madden Womens Edit Bootie Casual 7 US- Pick SZ/Color.Jambu Womens Spirit Vegan Ankle Bootie- Pick SZ/Color.Ellie Shoes Women's 300 Super Boot, Red/Gold, 10 M UScrocs Womens Rain Floe Tall Boot- Pick SZ/Color. , Women's Winter Rain Snow Boots Size 9 M Knee Premium Synthetic Leather Boots , 2018 New Black Zapatos de Mujer Sneakers Ladies Pink Shoes Design Women's Shoes , Womens $90 J LO JENNIFER LOPEZ Studded Dress Heel Ankle Boots Booties BLACK 10 , Annie Shoes Women's Mobile Riding Boot Black/Leopard 7.5 M USMari A Womens Alana Tasseled Ankle Boot Peep Toe Bootie 8.5 Tie Dye Denim , Soda Energy Women's Slouchy Pull On Low Block Heel Ankle BootiesBlack8.5LifeStride Women's Xandy Equestrian Boot, Dark Tan 6.5 W USTeva Womens W Delavina Mule- Pick SZ/Color. , Rampage Womens Italie Riding Boot 7.5 Grey Whipstitch , A2 by Aerosoles Womens Strole Along Ankle Boot- Pick SZ/Color. , Theo Round Toe Bootie Stone Suede 7.5 BM US , Roper Womens Claire Work Boot 7 D US- Pick SZ/Color. , Womens $90 Jennifer Lopez Strappy Dress Heel Ankle Boot J LO Booties BLACK sz 6Sbicca Womens Xandra Ankle Bootie- Pick SZ/Color. , Refresh Women's Jolin-01 Moccasin Fringe Boot 6.5 BM US Black , Enimay Women's Winter Fashion High Mid Calf Leather Slouchy Flat Casual Dress... , Women SIMPLY VERA WANG Wide Calf Tall Riding Boots Knee High BLACK 7 Flat Heel , El Naturalista Womens Colibri Ankle Bootie /- Pick SZ/Color.Joules Women's Metallic Matt Field Wellington Boots - Silver V_FIELDWELLYJUSTIN WOMEN COWBOY BOOTS US B SOLID LEATHER MADE IN USA . , Mary Jane pumps in a gold faux snake skin that reflects 6.5 , Excellent Vaneli Vimy Tall Boots Black Leather Buckles Straps Stretch Tops 10M , Tommy Hilfiger Womens Lyra2 Ankle Bootie- Pick SZ/Color. , INC International Concepts Womens Fabbaa Leather Almond Toe Wheat Size 5.5 ,
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 Liliana Womens xaya Almond Toe Knee High Fashion Boots, mauve, Size 6.0 m6Ym , Maurices women's size 9 Brown Faux Leather and Suede Knee High Riding Boots , American Rag Womens Adarra Taupe Over-The-Knee Boots 9 Medium (B,M) BHFO 9291 , Thalia Sodi Alta Women Pointed Toe Canvas Black Bootie , Mossimo Supply Genuine Leather Tall Boot NWOB Brown Ladies 5.5 Buckle Detail , B35 Valerie Zip Up Ankle Boots, Black, 6.5 US , J. RENEE' BOOT SLIDE ON'S SIZE 7 VERY CUTE!Earth Origins Women's Finley Ankle Boots in Black Size 7Legroom Women's Black Zip Up Wide Mid Calf Boots US Size 7Suede Women Over Knee Boots Motorcycle Platform Stiletto Heels Fur Trim Zip Shoe , Dr. Martens Women`s Triumph Dark Green Single Left (ONLY) Boot Plaid Lining US 8G by Guess Womens Taylin 2 Closed Toe Ankle Fashion Black Fabric Size 8.5 TQ2cBrand New in Box Micheal Kors Daisy Driver Suede Maroon Moccasin Women's Size 9DOLCE & GABBANA BEIGE SNAKE SKIN BALLET FLATS 37.5A35 Biliee Riding Boots 583, Cognac, 9.5 US DisplayHelly Hansen Workwear 8" Bergen Women's Black/Green WP STCP Work Boot 8M , Mephisto 'rachel' Leather Fashion Flats - Size 5.5, Wine , Ladies Fly London Wigg Mousse Casual Peep Toe Wedges Sandals Shoes All Sizes , Born Concept(b.o.c)Norda Leather Floral Clogs/Mules Women's Shoes Size 9 M new , SAS Metro Tripad Comfort Black Patent Slip On Horsebit Loafers Womens Size 8 New , FINN COMFORT-sensitive feet,Womens 10 1/2 US ( 8 UK) S-'18-W-48Rocket Dog Womens Casual Sneakers Black Suede Leahter Black Orange sz 6.5 M UsedConverse all star women size 7 W/ Sparkling Black Canvas , Women Leather Platform Round Toe Wedge Heel Sneaker Casual Shoes SizeWomen Occident Pointed Toe Buckle Strap Patent Leather Vintage Shoes Slip On @SY , Made in Italia MARE-MARE_OCRA ballerina shoes Women's - colour Yellow US , Reebok Furylite FBT [BS6184] Women Casual Shoes Black/Glow Red , Skechers Sport Women's Microburst Mamba Fashion Sneaker - Choose SZ/ColorNew Womens Nike free rn flyknit 2017 Running Shoes 880844-010 sz 6.5 BlackEllen Degeneres Camarillo Blue Suede Leather Fashion Women Shoes Boots Sz 7.5
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Mary localjoes-26955 Jane pumps in a snake gold faux snake 5.5 skin that reflects 5.5 a2451ac Boots
Powered by VIP.