The Buzz
All markets and investing news all the time

PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834

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: PUMA
Style: Shoes Manufacturer: PUMA
Size Type: Regular MPN: Basket Platform Metallic-W
US Shoe Size (Women's): Multiple Variations Model: Basket Platform Metallic-W

PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834
PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834 -

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%.

PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834 -
About This Author
PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834 -
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
New Balance Women's Size 10.5 Modelv7 Running ShoeNIB Womens 6-9 Columbia ATS Trail FS38 Outdry Running Waterproof Shoes - Grey , Nike Shox 2004 Pink Black Sz Wmns 7 2004 Release Ds New OG RareSkechers Sport Women's Empress on the Spot Fashion Sneaker - Choose SZ/ColorSteve Madden Womens Hiking Boot Black Leather SZ 7.5New Tory Burch Womens Laney White Running Shoes Size 7 , Steve Madden Womens Hiking Boot Black Leather SZ 9Adidas Women's Tubular Defiant Originals Running ShoeWomen's Nike Flyknit Trainer Chukka FSB Size UK4.5/US7/CM24/EUR38 805093-603Wmns Nike Lunar Apparent Dark Grey Elemental Rose Women Running Shoes 908998-005 , PUMA Women's Vikky Platform vr Sneaker , Skechers Women's Bikers Relaxed Fit Abroad Sneaker - Choose SZ/Color , Skechers Women's Synergy 2.0-Mirror Image Wide Fashion Sneaker , New Balance Women's WX623v3 Casual Comfort Training Shoe - Choose SZ/Color , CONVERSE CT CHUCK TAYLOR ALL STAR METALLIC Gold Hi Top RUBBER Size 7 Women's , New Balance Women's Fresh Foam Cruz V1 Retro Hoodie Running Shoe , Salomon X Ultra Prime CS Waterproof Hiking Shoes, Women's Size 9, Charcoal/AquaWOMEN NIKE AIR ZOOM STRONG BRIGHT MANGO BLACK SUMMIT WHITE 843975 800 SIZE 10.5Nike Wmns Air Jordan 1 Rebel Cinder Orange AO1530-800 LAB Size 9 WMNSAdidas Edge Lux Womens BW0417 Navy Blue White Running Training Shoes Size 7.5STEVE MADDEN TWYNKLE TAUPE SUEDE SNEAKER SIZE 9MNew Balance Women's, Sea Spray with Pigment and Energy Lime, 8B US, W860BN8. , Skechers Performance Women's Go Walk 4 Satisfy Walking Shoe , NIKE AIR MAX THEA PRM WOMEN'S SZ 6 NEW 616723-900 PRM SP 90 95 1 LAB , Camper Dub Black Canvas Athletic Trainer Urban Sneaker Shoes Women's 10 , Nike Roshe One Athletic Women's Shoes Size 6.5 , Nike Air Force 1 Flyknit Low Women's (Size 6) Black White 820256-007 Oreo , NEW BALANCE WOMEN 998 W998CHS Sz 11 GRAY SEA SALT STORM BLUE Running Sneakers , New Tory Burch Womens Laney White Running Shoes Size 10.5
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 WOMENS TOMMY HILFIGER BLACK SUEDE ANKLE BOOTS SIZE 6.5 m , Dark Brown 1.5" Low Block Heel Combat Sexy Knee Boot Buckle Size 6 , Dan Post Womens Burgundy Leather Western Cowboy Boots USA 7.5 MRockfish Wellington Tall Matte RFWB1011 GY Grey Women SZ 5 - 9 !MARCO TOZZI Women's Boots Ankle Boots Ankle Boot Black NEWI16-OT WOMEN'S SHOES 39 BOOTS SHOES & OTHEN STORIES BLACK TAC 12 MADE IN ITALY , Women Front Bow-knot Ankel Boots Med Kitten Heel ointed Toe Zipper Party Shoes1970s MISS CAPEZIO Vintage L393 Tan Leather Western Cowgirl Boots 9.5 M , VANELi Vaneli Womens Bunnie Flat 9(B)- Pick SZ/Color.New Without Box The North Face Womens Shellista Ii Tall Black Snow Boots Size 7 , Matisse Women's Mack Boot, Black, 8.5 M USReport GALE Women's Black Leather Over The Knee Boots US 6.5Vince Mason 2 Loafer Flat 5.5 M Black Landsnake Leather New with BoxAerosoles Women's Believe Flat - Choose SZ/Color , Earthies Clare - Women's Ballet Flat Spicy Red - 7 Medium , Flat Ivanka Trump Evana Black Suede/Savoy Suede , British Womens Pointy Toes Slip On Leather Bowknot Work Loafers Flat Heels Shoes , Women's Black Patent Leather Whitney Aravons (Size 8 Wide) , Womens Flat Pumps Ballet Ballerinas Wave Shoes Lady Almond ToeMIU MIU RICH DARK GREEN SATIN FLATS WITH A TOUCH OF LEATHER , NEW NIB Christian Louboutin Pink Velour Velvet Rose Gold Spikes Sneaker Sz 39.5Stuart Weitzman Womens Asap Black Suede Flat , Nike Zoom Condition TR Training Shoes-Women's sz 11 Grey , Adidas Original ZX Flux Women's Shoes SIZE 7 Pink Multi Color , New FILA Womens RAY WHITE / PINK FS1SIA3106X UNISEX SIZE TAKSEWomens Skechers Double Up Shiny Dancer Flatform Casual Sequin Sneakers US 6-11 , NWT Tretorn Women's Bailey 4 Sneakers High Tips Gray Sz 5 Waterproof , Women's Fall Dansko Size 37 Comfort Shoes , Women's NEW FRYE WOMENS LOAFER Flats , Women's Volatile Women's Comfee Loafer Flats ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
PUMA Women's Women's Basket - Platform Metallic PUMA Fashion Sneaker - Choose SZ/Color 315a834 Athletic Shoes
Powered by VIP.