The Buzz
All markets and investing news all the time

Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb

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: Bar III
Style: Shoes

Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb
Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb -

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%.

Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb -
About This Author
Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb -
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 WL999 - Capsule Meteorite Collection Fashion Sneakers , adidas Performance Women's Pureboost X Training Shoe , PUMA Women's Enzo Terrain Wn Sneaker , CL by Chinese Laundry Women's Vast Ankle BootieAdidas SUPERSTAR W womens fashion-sneakers AC7162 , CLARKS Women's Un Spirit Slip-On Loafer , Skechers Flex Appeal 2.0 Women's Fashion Sneakers , Clarks Women's Ashland Blush Casual Slip-On Shoe , adidas Performance Women's Response TR W Trail RunnerPUMA Women's Ignite Evoknit Lo Hypernature Wn SneakerDolce Vita Women's Sibil Ankle BootieReebok Women's Fury Adapt Graceful TMI Fashion Sneaker , ECCO Women's Exceed Low Fashion Sneaker , PUMA Women's Suede Mid Wtr Elem Wn's Fashion SneakerNine West Women's Sophie Suede Fashion Sneaker , ECCO Women's Lynx Mary Jane Fashion Sneaker , Nine West Women's Onosha Fabric Fashion Sneaker , Skechers Women's metronome-MOD Squad Ankle BootieReebok Women's Skycush Casual Track Shoeadidas Women's Superstar W Fashion Sneaker, White/White/White, 4.5 M USBernie Mev Women's Wenco Fashion Sneaker , Alegria Women's Colette Midnight Musings 39 M EUEmeril Lagasse Women's Quarter Slip-Resistant Work Shoe , Jessica Simpson Women's Chressa Ankle BootieBella Vita Women's Neola Dress PumpEastland Women's Sunset MLB Yankees Boat Shoe , ADRIENNE VITTADINI Footwear Women's Neano Boot , Converse Unisex Chuck Taylor All Star Hi Athletic Shoes , Reebok Women's Club C 85 Diamond Fashion Sneaker
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 Anne Klein Womens Sz 10M Leather Boots iflex Booties Pointed Toe - Side ZipSam Edelman Womens Black Suede Ankle Boots Size 7.5 MRampage Womens ivelia Almond Toe Knee High Riding Boots , WOMENS LADIES CHELSEA BUCKLE SLIP ON LOW HEEL ANKLE BIKER BLACK BOOTS SHOE SIZE , Skintone/Gold 5.5" Wedge Heel Round Toe 1.5" Platform Sexy Ankle Boot Size 6.5Etienne Aigner Boot Women size 6 BlackVINTAGE CLASSIC EDDIE BAUER Duck Boots Made In USA Womens Size 10 Leatherpointed toe women boots zipper fashion shoes sexy stiletto heels ankle bootsnew lady faded Denim Blue Rip 5.5"Stiletto High Heel Over Knee Sexy Boots Sz 6Propét Womens WBX002S Leather Round Toe Ankle Cold Weather Grey Size 9.5 4lJ8 , Jellypop Abilene Booties, Women's Size 10 M, BlackBare Traps Womens callipso Round Toe Knee High Fashion Boots Black Size 8.5 WG , REQINS Bottes à Talons Cuir Noir Doublées Cuir T 36 BE , Smooth finish handmade black leather women's ankle boots size 7 , Diesel The Wild Land Give Cap Toe Boot,Women's US 7 M,DARK-BROWN,MSRP $295.00 , NEW Antonio Melani Binx Studded Suede Dress Boots Black Size 7 $170Teva Kiru Women's Brown Leather Aztec Print Insulated Winter Boots - US 7.5 , Crown Vintage Womens Tabitha Leather Almond Toe Ankle Fashion Black Size 7.5 P$225 Tory Burch Jolie Black Patent Leather Ballet Flat Shoe Size 6NIB Tory Burch Eloise Leather Ballet Flats Shoes Black 7.5 MLadies Fly London Yuzu Open Toe Holiday Beach Cut Out Wedge Heel Shoes All SizesNike Air Max 1 Essential Women’s Athletic Shoes White Fuchsia Glow Flash Sz 6New Womens Loafers Leather Metal Decor Casual Flat Slip On Shoes Pumps Stylish SDonald J Pliner Womens Shoe SZ 9 Eike Grey Suede Strappy Flats Peep Toe , Ryka Women's Majesty Fashion Sneaker - Choose SZ/Color , Pleaser Women's Adore 708G Clear PVC/Royal Blue Glitter InsertTeva Sphere Running Shoes sz 6M, 37 Euro , Saucony Grid Azara 2 Running Shoes Women’s Size 9.5 US Excellent ConditionNew Converse All Star CT Womens Purple Magneta Low Top Canvas Shoes Sz 10 , Jasmin 7.5 Black Zipper Mid-calf Boot Women's
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Bar Womens III Womens Tristan Leather Leather High Closed Toe Knee High Fashion Boots 785b8eb Comfort Shoes
Powered by VIP.