The Buzz
All markets and investing news all the time

14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2

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: slip on sporty walking and comfort athletic shoe
Pattern: most advanced walking experience ever Material: Soft woven sleek nearly one piece mesh fabric
Color: Gray Width: Regular

14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2
14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2 -

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%.

14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2 -
About This Author
14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2 -
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
MUNRO Embroidered Gum Wedge Ankle Strap Leather Shoes Wms 40 / US 9 Rare WORN?SKECHERS WORK Women's Aluminum Toe Steel Plate Work Shoe Black/Grey Size 7.5M23557 LTPK Light Pink Skechers shoe Memory Foam Women Casual Slipon Mesh WalkingAdidas Vanquish 6w US Shoe Size (Woman's) 9.5Asics Gel Kanbarra 5 Sz 9 Women White Purple Running Shoes EUC M4U YGI , CONVERSE CTAS CHUCK TAYLOR ALL STAR SHROUD HI Zebra striped women's 8.5 / mens 7 , SCARPA MOJITO Women's Casual Shoe Green & purple Sz 9Converse All Star Shoreline Slip - Women's Shoes 537080F Size 5.5 , ECCO Womens 284053 Black/Black Flats (11074) , Converse Chuck Taylor All Star Pink Faux Fur HI Top sneakers women's size 8 , Deena & Ozzy size 10 shoes teal slip onNEW NIKE TRAINING FLEX TR 7 Womens Silver Gray Knit Shoes - Sample 738035Keen Versatrail Women's Gray Red Hiking Trail Running Shoes - US 10.5 ()VANS Ankle Hi (Leila Hurst) Black Sandal Women's Shoes Size 6Adidas High Tops Gray Orange Pink Womens Size US 8 , Womens Merrell Barefoot Pace Glove Acacia US 6 yellow running hiking water shoesBrooks Women's Ghost 8 Running Athletic Shoe Navy/Multi Size 9.5M , Unicorn Canvas Low Top Shoes Sneakers Style 9 sizes 5-12 womens , Zoot Women's Tempo Trainer Running Shoe Silver/Atomic Blue/Fiery Coral Size 8.5Masics gel blur 33 women's Athletic running shoes gray / yellow size 8 , New Balance Womens Wt910bb4 Sea Spray/Alpha Pink Running Shoes Size 12 (773) , ASICS GEL Cumulus 18 Fluid Ride Indigo Bue/Turquoise Women 9.5 T6C8N$100 sz 10 Reebok Classic Leather Dynamic Chrome Metallic /Gray Womens Sneakers , NEW SKECHERS WOMEN NAVY/PINK GLITTER SIDE STREET SHINE CITY SHOES SZ 7.5M , NIKE UNIFY STRIKE METAL BLACK WHITE 537679 101 WOMEN SHOES SIZE 8SKECHERS Women's Aluminum Toe Steel Plate Work Athletic Slip Resistant Shoes 7MAsics Women's GT-2000 4 Running Shoe Silver/Turquoise/Lime Punch Size 8M , New Balance Womens Wzantwg3 Reflection/Rose Gold Running Shoes Size 9.5 (6116)WOMENS SPERRY CVO LIME SHOES US SIZE 12 M (S1403)
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 White Mountain Lefty Knee-High Boots, Black/smooth, 5 USVTG WOMENS CAPEZIO TOE RAND COWBOY LEATHER RED BOOTS SIZE 5 M , Bear Paw Boots 12 Inch Tall Gray Suede W/ Warm Wool Lining Size 6 EUC , Women’s Banana Republic Suede Black Ankle Bootie Heels Size 7.5 , DANSKO WOMEN'S SHEENA ZIPPER ANKLE BOOTIES BLACK NUBUCK 37 7 MEDIUM $160Ariat boots women's tall knee high brown style 1001397 size 7.5 , $185 Authentic Rare GUESS Women's Brand New Shoe Boots , $325 FRYE OMBRE RED BLACK ZIPPER COMBAT BOOTS 7.5Milwaukee Performance Women's Side Zipper Entry Boot - Round Toe - **MBL9401Double-H Women's DH5008 Black Oiltan Leather Double Harness Square Toe Boot Sz 5Aldo Suede High Wedges Boots, Black, Size 9x Grey Floral Embroidered Booties Ankle Shoes Suede Low Heels Boots Women Flower , Womens Leather Ballet Flats Ribbon Accent Black Color US6.0 EU36.0 23cm , LARTISTE BARDOT-RDM - BARDOT Size: - Color: , Bandolino Women's Liberty Black Leather Loafer 6.5 M , Two Pairs Bally Red and Black Flats Women’s Shoes Size 10NEW Sergio Rossi Suede Flats Loafers Size 39 (US 9), Light Beige, Orig. $450FitFlop Women's Pop Skate Perf Tan Loafer 9 M BNEW COLE HAAN WOMENS WOMEN'S GRANDEVØLUTION LOAFER - ROSE GOLD METALLIC SPEC... , Sofft Women's Mytalini Ballet Flats Gunmetal Leather Size 7 MFRYE Women's Caramel Brown Leather Milly Fisherman Flat Shoes Buckle Size 7.5 MSkechers BOBS Women's Highlights-Jewel Rock Ballet Flat - Choose SZ/Color , 206 Collective Women's Parker Ballet Flat , Azura Women's Tacana Bootie , Women's Authentic Leather Women Oxford Shoes FlatsWomen's jolies bottines talon compensé 37 Bootsvintage 70's G H Bass Leather Sugar loafer Boots 7 1/2 VERY NICEBrown 1.5" Wedge Heel Frill Faux Suede Sexy Ankle Boots Size 7 , Enzo Angiolini Women's Zarynn Boot Brown US L7 R7.5 Mismatch Size NWDWomens Casual Fashion New Rivet Mental Suede Flat Slip On Korean Loafers Shoes ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
14929 Go Gray Skechers shoes Go Walk 4 Casual Women Walk Soft Casual Slip On Walking Loafer New 5e711a2 Athletic Shoes
Powered by VIP.