The Buzz
All markets and investing news all the time

Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6

Item specifics

New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Color: Black
US Shoe Size (Women's): US 9.5 Style: Riding Boots
Brand: Mojo Moxy UPC: Does not apply

Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6
Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6 -

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%.

Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6 -
About This Author
Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6 -
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
Ralph Lauren brown knee high boots size 7.5 womens , DONNER MOUNTAIN BLACK INSULATEDONNER MOUNTAIN BLACK INSULATED WINTER BOOTS 9 M , Vera Wang 4" Spike Heeled Buckle Fur Lined Black Ankle Boot 7 M OLIVIAGuess Womens Black Leather Size 7.5 Boots Knee Length WORN HEELS , Talbots Black Genuine Leather Brazilian Heeled Ankle Bootie- Size 9.5NSplendid Dale Suede Ankle Black Boots Women's Shoes Size 8.5 M , Reaction by Kenneth Cole YEE HA Leather Fashion Ankle Booties Brown Size 10 M , G by Guess Women's Boots Size 8 Black Mid-Calf Faux Leather Military Style , ESNY Women's Brown Faux Suede Boots Size 8M , enzo angiolini 9-1/2 M Black Leather Womens Boots , NEW WOMENS SIZE 7.5 M ULTRA CHIC TAN SCROLL WORK BOOTS by MONROE & MAIN$99 Women's Vera Wang Simply Vera Kasia Rhinestone Moto Boots Grey smoke 6.5 , So Kohls Mid Calf Zipboots Heels Womens Size 7Eddie Bauer Womens Shoes Duck Rain Hunting Low Cut Made in USA Size 5Women's cowboy western style boots Size 4 Brown Cat & Jack , Women's Fashion Ankle Boots Almond Toe Low Heels Buckle Zip Booties Side ZipperClarks Soul of Africa Ankle Booties 9 Slate Gray , Italian designer MAX De CARLO SHOE BOOTS Size 8 Brown Made in Italy , NEW WOMENS SEVENTH AVENUE WAVE PATCHWORK BOOTS SIZE 6M 6 MNature Breeze Ankle Boots - 7 1/2 , Nine West Ankle Boots Dark Maroon Leather 3.5" HeelsGlaze Cognac Faux Leather Bootie Heels Size 10NEW! SM 30672 Womens Evette Taupe Over-The-Knee Boot 8 W118Q paFloral Print Slide-on Mid-calf Boot Sz 39/ 8.5-9Chinese Laundry Bachelorette OTK boots size chocolate side size 5.5 nasty galBrand New! Wanderlust Boston Women US 6.5 M Red Boot , Khombu Ladies Womens Winter Waterproof Size 7 M Black Snow Boots Style BW1645Worthington Brown Suede Women Boots Size 7.5 M , Women's Short Ankle Boots from Charles' House
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 Via Spiga Black Leather Stretch Pointed Toe Knee High Boots Size 6 M , Henri Pierre Black Suede Square Toe Faux Fur Trim Ankle Boots Size 8.5 , WOMEN'S SIZE 7.5 RED LEATHER WESTERN BOOT **WORK BOOTS** , Carlos Santana Boots Ladies Size 5.5 Brown Leather Suede Studs Beads Booties New , Women's Martin Boots Short Boots Flat Bottom Boots Suede Girls' Winter Shoes New , Womens Heavenly Soles Black Suede Ankle Boots Perforated Leather Accents sz 8 , New BCBGeneration Women's Brennan Slouch Boot Back Size: 7M , Brown 1.5" Low Block Heel Combat Winter Sexy Ankle Boot Size 5.5 , TEVA DE LA VINA WOMEN ANKLE BLACK SUEDE BOOT US 7.5 / / NIB , Nine West Takedown Black Pebbled Leather Buckle Pull On Tall Boots Women's 9 1/2Chooka Womens Eastlake Herringbone Duck Boot Waterproof Rain Snow Blue Grey Sz 6 , Fergalicious Womens Lara Closed Toe Knee High Fashion Boots, Black, Size 6.0 DQk , Waldlaufer Elisa Hegli Black Combi Loafer Shoes Black Patent Leather / Suede New , NIB Free People 'Mont Blanc' Asymmetrical Sandal shoes Retail: $168 New Color! , Gentle Souls Womens Demi Glaze KS Slip On Flat Shoe, Black, US 7 , Sperry Top Sider Women's Bootie Juniper Quay Black STS96153Nike Womens Dual Fusion ST 407847-401 6.5 Shoes SneakersKeds WH56462 Women's Chillax a-Line Perf Suede Fashion Sneaker, 7.5 M US , Women Casual New Rivet Preppy Platform Canvas Shoes Ripped Korean Denim SneakersNEW* Hunter Plimsole Flats Rain Shoes Rubber Waterproof Slip On US 8 (8.5)Skechers 15200 BKW Go Run Ride 7 Black White Women's Running Shoes US 6.5 MUnisex Converse Chuck Taylor All Star II Boot Fatigue Green 153570C Women 6 M 4 , NIKE Women's Gray Lunarcharge Essential Athletic Running Shoes - 6.5Women's Ladies Rieker Antistress Shoes '53757' Flats , Sbicca Women's Chenoa Riding Boot, Black, 7.5 B US , Side Zip Paul Green Munchen Womens US Size 7.5 / UK Sz 5 Black Ankle Boot Bootie , Womens Pleated Round Toe Low Heels Knee High Boots Winter Warm Shoes Plus SizeDBDK Fashion Deirder Black Side Zip Stacked Heel Ankle Bootie Sz 7.5MVince Women's Cage Sneaker - Choose SZ/ColorADIDAS WOMENS NMD R1 STLT PRIMEKNIT - CLOUD WHITE-SEMI SOLAR YELLOW-PINK B43838
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Dolce 27655 By Mojo By Moxy Black Boots, 9.5 9.5 656efe6 Boots
Powered by VIP.