The Buzz
All markets and investing news all the time

Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15

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: Converse
Color: Blush Gold MPN: 553338C
US Shoe Size (Women's): 5.5 Medium (B,M) Width: Medium (B, M)
Style: Low Top Material: Synthetic
Country/Region of Manufacture: India Heel Height: Low (3/4 in. to 1 1/2 in.)
Material Composition: Synthetic/Textile/Rubber UPC: Does not apply

Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15
Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15 -

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%.

Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15 -
About This Author
Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15 -
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 $1.5 billion Powerball! Here's your tax bill
NEW! AVIA OCS PLUS ATHLETIC/TENNIS SHOES SIZE 8.5 BRAND NEW!!Women's Salomon Speedcross 3 Athletic Running Outdoor Hiking Shoes US5-US9SAS FREE TIME MOCHA SIZE 9 WIDE W FREE TIME Comfort WALKING MADE IN USA BROWNAvia Women's Mesh Athletic Walking Shoe w/Air Heel White/Grey/Pink A6555WWSQ NIB , Vans Off The Wall Low Top Size 7 Women’s Blue Green Peacock Sneakers Shoes , Steve Madden Womens Kane Pink Fashion Sneakers Shoes 7 Medium (B,M) BHFO 5380Skechers Womens Black Hydro Zstrap Shape-Up Toning Walking 24864 10 M EUC , SPERRY TOP-SIDER DORY WHITE NAVY WOMEN'S SHOES SZ 6.0 M DISPLAY D5552Women's 10 1/2 New Balance 479 All Terrain Walking Hiking Shoes Womens sz 10.5 M , Converse All Star Sneakers Shoes, Solid Black, Women's Size 8, Men's 6, Eur 39Converse All Star Shoes, Chuck Taylor, Plaid, High-Top, Women's Size 8, Men's 6 , Asics Gel Duomax Women’s Shoes (T954N) Size US 8.5 Multi-ColorPuma Womens Fierce Core White Fashion Sneakers Shoes 8.5 Medium (B,M) BHFO 6723New Reebok Womens Cardio Motion Shoes Running Shoes Size 7.5 , Converse Chuck Taylor All Star Zebra Floral High Top 554888F Women's Size 6 , Puma Womens Fierce Core White Fashion Sneakers Shoes 5.5 Medium (B,M) BHFO 6709Dr. Scholls women's size 10 Black sandals Advanced Comfort Series Shoes 42 EUR , STUART by Stuart Weitzman LEATHER white yellow fashion sneakers Sz 8.5 eyelet , 02-374 Women's ASICS GT-1000 6 Running shoes size 7.5 , Women's New Balance 608 Shoes Sneakers Size 8B Tennis Walking White Purple P11K-SWISS Women White Modern High Top Leather Sneaker Size 8 NWOB 129.99$ , Women's Red Puma Extreme Slip On Casual Shoe Size 8New Women's Bellini Black Accent Slip on Sneaker size 10 M , Brooks womens teal blue gray Trance 11 running shoes 7 B EUC , OSIRIS NYC 83 SLM Girls Skateboarding Shoes Size 9 , COLE HAAN white leather sneakers size 10.5 B , Converse Shoes size 8.5 women's - black/sneakersNew Balance WR740 BS Running Blue Silver Stability Running Womens Size 6B , Converse All Star Hi Backpack Sneaker Pink Size W7, M5 146654F
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 Vintage Md USA Waterproof Tall BLACK RUBBER Fleece Lined WINTER RAIN Boots Sz 4 , DORIC! Women's Triple Buckle Riding Low Heel Knee-High Tall Boots , Marc Fisher Suede Ankle Boots - Charlie PICK SIZE & COLOR NWRegence Black Leather Zip Riding Boots Size 8.5 B Style 2520038CHAUSSURE SANDALE CRÖCS ORIGINAL TAILLE 36/37 M4 W6 SHOES/ZAPATO/SCARPA , Cole Haan Booties Womens Size 8 B Pull On Ankle Leather Tennley Buckle BlackMarc Fisher Black Vallay5 Ankle Boot--Size 10M , Lot Black Nude Pink Cut Out Buckle Gladiator Chunky Heel Boots Faux suedeRED WING 2316 Brown Leather 6" Work Hiking Boots Steel Toe Women US Size 6 D EHWomen's Siberian Husky Black Leather Tall Fashion Boots US 9 BSteve Madden Hanna Harness Boot 825, Black Suede, 6.5 US , Derek Lam 10 Crosby Ester Nude Beige Suede Chelsea Ankle Wedge Boots Size 7.5 , G By Guess Hailee WIDE CALF Round Toe Fashion Boots Dark Black Size 8.5 MARIAT Tan Leather Western Boots Women's Size 7 B , Women's Nine West Knee High Boots - Shearling - Black Suede - WIDE CALF! - NEW!! , Lucky Brand Women's Honey Oiled Suede Latonya Boots, Size 6M, NIB , Dolce Vita Pasha Booties - Women's Size 9 - Dark SaddleTory Burch CAROLINE 2 Leopard Lurex Logo Ballet Ballerina Flats Shoes Black 6.5$188.88 Donald J. Pliner Lovage Foam Vintage Metallic Leather Loafer Mule 7 , Dansko Buckle Mary Jane-Women's Size 9.5-10 Navy DAMAGED , Prada Orange Leather Drivers Shoes Gold Logo - Slip on flats - US 6.5 - 36.5 , Birkenstock Footprints Clogs Brown Tan Shoes Sandals Mary Janes Womens 40 / 9.5 , Brooks Running Ghost 11 493 6.5-8.5 Medium WidthPUMA Women's Fierce Satin En Pointe Wn Sneaker - Choose SZ/Color , New Balance WW928NV3 Athletic Shoes - Women's Size 8.5 2E, Navy/GreyWomens Nike Air Force 1 High SE Elemental Gold 860544-700 Size 6 - 9 , Women's Trotters Women's Jenn Slip-On FlatsWomen's High Stilettos Heels Thigh Boots Over the Knee Platform Shoes tall boot , WOMENS DANSKO Gray patent leather PROFESSIONAL CLOGS SHOES Sz 40 9.5 10,euc , Nike Air Max 95 Running Shoe Glacier Grey/ Muslin Carbon Size 8 1/2 ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Converse Womens 5sfg-14125 Bronze CTAS Dainty Metallic Leather O O Bronze Fashion Sneakers BHFO 6199 e0efc15 Athletic Shoes
Powered by VIP.