The Buzz
All markets and investing news all the time

Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74

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: Bamboo
US Shoe Size (Women's): N/A Style: Booties

Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74
Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74 -

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%.

Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74 -
About This Author
Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74 -
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
Cole Haan woman boots black leather ankle with side zipper size 9 B mintTherapy Staples Suede Full Boot with Heel and Ruched Calf in Black , Born Knee High Boots Brittney- Vintage Black Side Zip Leather Heels Women's Sz 7PLENTY TRACY REESE FABLE Brown Leather Designer Wedge Ankle Boots 8 , Karen Scott Size 6.5 M Lucca Black Knee High Boots New Womens Shoes , New Vince Camuto Melaya Over The Knee Leather Boots Small Heel Size: 5.5 , Catherine Malandrino Sorcha Over-the-Knee Sz 9 Grey Boots New ShoesHalston Gored Tall Shaft Boots Inside Zip Naomi Bordeaux Lthr 11M NEW A269760 , Brand New Candies Faux Suede Boots ~ BlueWolverine Women's Pearl Ankle Buckle Boots Tan 9.5 MSAN MARINA Bottes à Talons Compensés Cuir Bordeaux T 40 TBE , WOMEN'S TONI LAMA WESTERN BOOTS AND CARRY CASEBrand New STEVE MADDEN Tanngoo Bootie Size AUS 9 (US 10)Mi Bottes Bottines REGARD Tout Cuir Daim Vieux Rose T 35,5 TRES BON ETATJONAK Bottes Cavalières Cuir Marron foncé T 39 TBE , Wolverine Women's Pearl Ankle Buckle Boots Black 5.5 M , Magnifiques Bottines Noires Taupe Les P'tites Bombes LPB Pointure 41BEARPAW Adrianna Tall Cold Weather Boots Hickory Multiple SizesEllen Tracy Womens NWOB Crush Black Leather Suede Boots Shoes 9.5 MED NEW , Adam Tucker Womens masons Calf Hair Pointed Toe Ankle, Tan/black, Size 8.5 2iXfDiba Womens Beth Bootie Fabric Pointed Toe Ankle Fashion Boots, Black, Size 8.5Harley-Davidson Women's Ardsley Motorcycle Boot Brown Size 5.0 Tvtc , TEVA Womens Foxy Mid Black Leather Ankle Boots US 11 NEW! , LifeStride Womens Watchful Fabric Closed Toe Ankle Fashion, Dark Brown, Size 6.5 , Tommy Hilfiger Womens Ebonie Closed Toe Mid-Calf Cold Weather Black Size 9.0 l , NEW DOLCE VITA Mella Camel Brown Leather Studded Boots Sz 6 NEW $259 , New Lucky Brand 'Ninnah' Tobacco Leather Boots women's sz 10INC International Concepts Womens NWB Ranny Brown Boots Shoes 6 MED NEWNIB $225 SAM EDELMAN KEEGAN FRINGE BELTED STRAPS SUEDE PLATFORM BOOTS Women's 8 ,
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 Black heeled chelsea styled ankle booties, TOPSHOP, LeatherMichael Antonio Women's Myan Boot, Black, Size 7.5 , Prima "Ashlee" Boots Women's Sz 8.5m Black Synthetic Upper 3" Heel (tu25)Hunter Boots Heels Womens Size 7 Authentic Rare Leather Wedges Brown , WOMENS LADIES FLAT KNEE HIGH QUILTED BUCKLE RIDING CALF WINTER BOOTS SIZETwiggy London Black Leather & Suede Ruched Ankle Boot NewWomen's Enzo Angiolini Western Ankle Boots Shoe Size 5.5M Brown Woven Leather X1 , CLARKS Womens Caddell hop Closed Toe Ankle Fashion Boots , Cole Haan Nike Air Womens US 5.5 B Brown Leather. Double Buckle Knee-High Boots , Bearpaw Women Phylly Fur Lined Warm Winter Boots Tie Back , Hunter Boots Shoes Tall Original Gloss Blue Womens Size 5 M , Aquatalia by Marvin K. Women's Black Suede Wedge Shoes Size 5 M RP $325Raye Faris ankle velvet boots size 6.5 new , Womens 6 M Cowboy Boots Acme Dingo Distressed Boho Western Vintage Cowgirl Brown , Tahari Womens Roman Pointed Toe Ankle Fashion Boots, Black, Size 8.0 tQVoRalph Lauren Women's MENNA Tall Wide Shaft Brown Riding Boots Size 7.5JCREW Glitter ankle strap ballet flats $178 5.5 Shoes glitter graphite e1069New G.H. Bass Women’s Weejuns Bass-Dee Size 7MDISNEY Jack The Nightmare Before Christmas COMBAT BOOTS WOMENS Size 11Nine West Women's Trophy Suede Ballet FlatGiuseppe zanotti shoes women slip on , Drew Women's Berlin Comfort Shoes Black , Asics Gel-Excite 2 Womens Lightning/White/Turquoise Running Shoe 12M , Balenciaga Silver Mirror Shoes Sz 40 Sz40crocs Womens Olivia II Ballet Flat- Pick SZ/Color.BEAUTIFUL HANDMADE UZBEK NATURAL LEATHER SILK IKAT ALL STAR SHOES A10327 , Nike Women's Sf Af1 Casual ShoePUMA Womens Fierce Evoknit WNS Cross-Trainer Shoe M- Pick SZ/Color. , Womens Round toe PU Leather casual side zipper chunky Knee High Boots Plus SizeSkechers Street Women's Women's Hi-Lite-Metallic Toe and Tongue Sneaker ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Bamboo Suede Boots Buckled Strap Moto Bamboo Ankle Strap Boots 5df0c74 Boots
Powered by VIP.