The Buzz
All markets and investing news all the time

Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb




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: Moxie Trades
Color: Pink Nubuck Leather Style: 745071_1555498

Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb
Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb - 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%.

Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb - hollisbaker.com
About This Author
Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb - 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
 
VANELi Women's Irven Ankle Boot Taupe Calf Suede/Gunmetal Comfort Shoes , Walking Cradles Womens March Loafer Brown Patent Croco Printed Leather MoccasinsNaturalizer Women's Ferris Slingback Alabaster Leather Slingbacks , Pleaser Women's Moon 708DMCH Clear PVC/Purple Chrome Ankle Straps , Trotters Women's Gigi Pump Black Glazed Kid Leather Party ShoesGeorgia Boot Women's GR3 Romeo Soggy Brown Full Grain Leather Slip-on Shoes , Softspots Women's Posie Laser Black Leather Slip-on Shoes , New Balance Women's 40v1 Minimus Cross Trainer, - Choose SZ/color , Drew Women's Lisbon Brown Nubuck Combo Slip-Resistant (Non-Skid) , Merrell Women's All Out Blaze 2 Hiking Shoe Dark Olive LeatherTrotters Women's Dea Nude Soft Kid/Patent SlingbacksPleaser Women's Stardust 708 Clear/Black Platform Shoes , Rockport Women's Cobb Hill Salma Almond Full Grain Leather Mary JanesTrotters Women's Dea Dark Nude Leather SlingbacksNaturalizer Women's Dinah Loafer Pump Black Patent Leather Comfort ShoesKlogs USA Women's Austin Open Back ClogFitFlop Women's Bumble Wedge Slide Sandal Black Leather/Microfiber/Micro-Crystal , Salomon Women's Speedtrak W Trail Runner - Choose SZ/colorNaturalizer Women's Westing Block Heel Ankle Bootie Black Velvet Comfort ShoesBirkenstock Women's London Oiled Leather Habana Oiled Leather Clogs , Walking Cradles Womens March Loafer Black Patent Croco Printed Leather Moccasins , Naot Women's Mangere Slingback Stone Nubuck/Khaki Beige Leather , Trotters Women's Jona Dark Pewter Burnished Soft Kid/Kid Suede Comfort Shoes , Trotters Women's Lauren Black Metallic Multi Printed Leather Slip-on Shoes , Allrounder by Mephisto Women's Fina Tex Black Rubber/Bisonte (Brown) Nubuck , Naturalizer Womens January Over-The-Knee Riding Boot Black Leather Comfort ShoesNaturalizer Women's Terah Slingback Sandal Alabaster/Black Leather Slingbacks , Harley-Davidson Women's Becky Riding Boot Black Full Grain LeatherDr. Martens Industrial Mila ST Women's Oxford ,
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 Hunter Biker Short Rain Boots Size 9Women Casual Fashion Sneakers Wedge Heel High Top Shoes Black White 5405_Eg , Marc By Marc Jacobs Howard Tall Tent Women's Nylon Snow BootsKenneth Cole Reaction Boots Iconic Black Leather Knee-High Boots Size 7 MFunny Women's Boots Shark Teeth Cherry Blossoms in the Sky Design Martin BootsH by Halston Burgundy & Navy Leather Kimberly Pointed Toe Ankle Boot NEW , Sporto Women's Tina Snow Boot Black Size 6.0 , ZARA $139 LEATHER HIGH HEEL ANKLE BOOTS WITH POMPOMS BLUE 35, US5, UK2 2105/201LifeStride Womens able Closed Toe Ankle Fashion Boots Taupe Size 6.0Lemon Jelly 'Comfy' Chelsea Ankle Rain Booties, US 8.5 in BordeauxHadleigh's New Pindot Print Tassel Loafer Blue Pindot 36/6 , J Crew T-strap cage flats Navy 8Nine West Womens Norella Leather Slip-on Loafer- Pick SZ/Color. , Via Spiga Womens Giada Closed Toe Loafers, Black, Size 5.0J CREW Ballet Flats Shiny Shimmering Pink Gold Loafers Shoes Womens Size 9 �b3 , Dries Van Noten Camel Pony Hair/Grey Flannel Slip OnAC276 MBT shoes red leather patent leather women ballet flatsKaty Perry Women's The Julia Mary Jane Flat, Pewter, 5.5 Medium US , Luca Grossi C649M loafers sale miro/biancoWomens Sneaker Sports Athletic Shoes Shoes Korean Skateboard Candy Colors Girls , Talbots Suede Tassel Loafers Size 8N Narrow Black Suede Classic Style Casual , Uwezo Women Brown Hair On COWHIDE Slip On Loafers Sz-7.5 ( NWT) , Clarks Candra Light Champagne Women's Leather Bow Ballet FlatsPropét Women's TravelActiv SS Sandal, Blue/Black, Size 6.5Skechers Women's Go Walk Lite-15372 Sneaker - Choose SZ/Color , New Balance Womens Pink Walking Shoes Size 10 (353034) , Women's Lanvin Embellished Suede Ballet Flat Flats , Voez CRAZY HORSE Women's Brown Slanted Fowler Heel Western Cowgirl Boots Size 10Dansko 39 red/black spirals professional clogs , Nike Classic Cortez Women's Particle Beige/Particle Beige/Metallic Gold 02856202 ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Moxie localjoes-27787 Trades Nubuck Women's Alicia Work Boot 27787 Pink Nubuck Leather 102b8fb Comfort Shoes
63053
188084
2402128
4601480
4709845
8039170
11297451
11929733
17030262
Powered by WordPress.com VIP.