The Buzz
All markets and investing news all the time

Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e




Item specifics

Condition:
New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Brand: Bed|Stu
Style: Flats

Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e
Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e - hollisbaker.com

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%.

Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e - hollisbaker.com
About This Author
Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e - hollisbaker.com
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
Contributors
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
 
Women's Motu Shoe FlatsWomen's BIRKENSTOCK TOKIO BLACK RFSO8F702BK NARROW FlatsWomen's BIRKENSTOCK WOMEN RFSO8F604BK NARROW FlatsWomen's Shoes Leather Crown 35558US -20% Flats , Women's SOLOVIERE Shoes 131577 BluexMulticolor 37 FlatsWomen's Jimmy choo Flats Flats , Women's Chloe Shoes 621788 BlackxBeige 37 Flats , Women's Wolky Comfort Mary Janes Silky FlatsWomen's D14004rcvel Black AGL Flat Flats , Women's PRADA Shoes 522714 BlackxWhitexMulticolor FlatsWomen's TODD'S BALLET FLATS / FlatsWomen's Denim Mules by Pierre Hardy FlatsWomen's D140017RCK Black Ging AGL Pump Flats , Women's KEEN Women's Sisters MJ Shoe FlatsWomen's D140017RCSofty Black AGL Flat Flats , Women's MOTO Shoes 174048 BrownxBeige 1 Flats , Women's PRADA Burgundy Leather Pumps 38.5 Flats , Women's AQUAZZURA Shoes 525861 Gold 37 FlatsWomen's Opening Ceremony Morgaan Mule, 37 FlatsWomen's HB Ladies Shoes Style-398 Colour-White-Black-Yellow Flats , Women's AQUAZZURA Shoes 525854 Gold 35 Flats , Women's Gerge Mang NWB Shoes Sz.40 Flats , Women's GIUSEPPE ZANOTTI BALLET FLATS 36.5 FlatsWomen's tods loafers women FlatsWomen's Givenchy METALLIC OXFORD / 40 Flats , Women's Renvy Brocade Shootie, 6 Flats , Women's MIU MIU Ballerinas flats Flats , Women's REQINS BABEL PEAU/STAR NOIR/ARGENT FlatsWomen's Miu Miu Flats Flats
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 Women Winter Warm Suede Snow Boots Slip On Thicken Casual Shoes Tassel BootiesAnkle Or Calf High Fur Boots. Reg $39.00 Sale Price $15.00 Delivery In 4 Days , Dolce Vita Women's Black Luly Knee High Boot 8.5M , Bare Traps Tommy Dark Brown Buckle Detail Riding Boot 6 W SALE , Marc Fisher Womens Calisa Closed Toe Knee High Rainboots, Dark Blue, Size 6.0 , Womens 10 B M BLT Santa Barbara Italy Brown Leather Equestrian RIding Boots Tall , WOMENS VTG LARRY MAHAN RANCH WORN SOFT TAN LEATHER COWBOY WESTERN BOOTS SZ 6 C , Spring platform booties, women's size 9/40Skechers Women's Hampshire-NORDIC DAZE 48894 Black/Wht 3M Thinsulate WaterproofGUESS!! MORELLI ANKLE BOOTIES SIZE 6.5 LEATHER WITH STUDS , Charles by Charles David Black Suede Mid-Calf Boots Women's Shoes Size 9.5 M NEW , Tundra Women's Diana Black/Purple Boot Size 9New $128 Free People White/Black Varsity Slip On Sneaker/Loafer Haircalf sz 6/36 , NWB TORY BURCH HOT PINK ALI THONG PATENT CALF SANDALS SIZE 9 1/2 M , Amalfi by Rangoni Size 6 M Pescara Brown Leather Loafers New Womens ShoesChic Womens Color Stitching Open Toe Tassels Low Heels Mules Flats Slippers A57NIB Authentic CHAROTTE OLYMPIA Flats Kitty Embroidered Raffia , NIB Salvatore Ferragamo Parigi Glossy Loafer , Finn Women's Augusta Leather Shoes White Coffee 6000-900151 , AGL Women's Black Leather Cap Toe Ballerina Flats 4927 Sz 37 EUR , NIB TORY BURCH Elisa Logo Canvas/Beads Espadrille Flat Size 10.5 Blue/Golden Fry , Rachel Roy Gracie Smoking Flat Black / Navy Women's 8 M US - MSRP $250Women's Nike Air Force 1 Ultraforce Mid Sneakers size 8.5Pleaser Women's Delight 633 T-Strap Platform Sandal Clear PVC/Clear SandalsBrooks Glycerin 15 Women's Running shoe Choose Size , Propet Women's Tour Walker II Strap , Women's Floral Thigh High Platform Boots Boots , Impo Womens Osie Fabric Closed Toe Ankle Fashion Boots, Black, Size 10.0 US0w , Winter Womens Lady Mid-Calf Bowknot Boot Faux Suede Wedge Heel Slouch Shoes NewNIB Michael Antonio Bootie The Jazara Shoe 8
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Women's Flat Bed|Stu Women's Misty Misty Ballet Flat Flats Flats 8af0a9e Flats
1642674
5083630
6330352
6654202
7983181
8762594
10645366
12838621
18967785
Powered by WordPress.com VIP.