The Buzz
All markets and investing news all the time

Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80

Item specifics

Pre-owned: An item that has been used or worn previously. See the seller’s listing for full details and ... Read moreabout the condition
Style: Ballet Flats
Brand: Giuseppe Zanotti

Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80
Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80 -

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%.

Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80 -
About This Author
Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80 -
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
Tory Burch "Twiggie" Black Patent Flats (Size 9) New with BoxNIB TORY BUR H LOWELL 2 BALLET FLAT SIZE 7 NATURAL LEOPARD HAIRCALFChloe Leather Lauren Flats in Mint Green Size 38 , Stuart Weitzman - Velvet Oxfords - Black - Size 7 M US , Stuart Weitzman New Bolshoi Beige Womens Shoes Size 10 M Flats MSRP $375Aquatalia Women's Marcella Weatherproof - Black Patent Leather - Size 8.5CHIE MIHARA SHOES REINA BALLET FLATS FLOWER APPLIQUE PURPLE SUEDE RARE 38 , STELLA MCCARTNEY'BINX' PLATFORM LOAFERS WHITE VEGAN LEATHER Sz 6 $525NEw Stuart Weitzman Metro Jet Leather Oxfords, Size 6.5M. Orig. $450+New Marc Joseph New York East Village Penny Loafer Perforated eyelet Sapphire , AUTH Green Prada Suede Leather Tassel Pointed Toe Flats Sz 39.5 $670 , Ralph Lauren Alligator Croc Pattern Leather Slides 8B - Rare , Tory Burch Kendrick Loafer Moccasin Grey Leather/Gold Logo Medium Comfort 9.5 , Roger Vivier Dark Navy Suede Leather Pumps 37.5 Made In Italy NWOB , Christian Dior Frivole Textile Pointed Toe Flats Red 40Chloe Leather Lauren Flats in Yellow Size 38Stuart Weitzman Women's Catalan Espadrille Caramel Leopard Raffia Size 9.5 MBRUNELLO CUCINELLI Bronze Leather Loafers Size 9.5 US / 39.5 EUJIMMY CHOO Pow Blk/Wht Pony Hair Zebra Print Espadrille Flat Size 41.5 , New JCrew Patent Brogging Mark Wing Tip Leather Loafers 7 Red Currant Fall 2017NIB TORY BURCH PERFORATED LOGO FLAT ESPADRILLE SHOE SIZE 8 RETRO PINKLoeffler Randall Ambra Flats - Women's Size 8.5 B, WheatPRADA Womens Flats Size 37.5 / 7.5 Black Patent Leather Bow Rubber Sole ItalySALE NEW Authentic TORY BURCH Perforated Leather Flat Espadrille $255 , Bottega Venata Flats 8.5B Black Leather Woven Intrecciato Loafer Women VTG ShoesNIB TORY BURCH Heidi Leather Logo Ballet Flat Shoes US 9.5 Pewter Metallic SnakeNEW J Crew Collection Calf Hair Mary Janes Flats Shoes $298 7 E1083 Red , REPETTO Fayza Black Smooth Leather Bow Pointed Toe Slip On Slide Flat Mule 39/8�Dr. Martens Doc England Rare Vintage Aztec Crazy Horse 4 Eye Shoes US 5�
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 LADIES "SPOT ON" BLACK MID CALF LENGTH BOOT "F5478"New Women M&L Durian-9 Faux Suede Almond Toe Perforated Pattern Chunky Heel , DEXTER Brown Leather Moccasin Boots 7 M Knee HighWomen's Shoes Bamboo Scenery 02M Chunky Heel Ankle Booties Chestnut BNH *New* , Women’s BEARPAW Brown Suede Ankle Boots Size 8 , Bottes REGARD Pointues Tout Cuir Fripé Noir T 36 BE , Easy Spirit Bronzato Quilted Above Mid Calf Boots 473, Black2/Black, 8 W US , Rampage Women Boot Riding Boot Intense Synthetic Leather Brown Boot 7M , Ted Baker Lorca 3 Ankle Booties-Women's size 7.5 BlackBrinley Co Women's Early Western Boot Dark Brown 7 Regular US , Cole Haan NikeAir Womens Black Leather Boots size 7 BLADIES SHOES/FOOTWEAR - Step On Air Dixie boot blue , WOMENS VTG HH DOUBLE H TALL TAN COGNAC CAMPUS LEATHER COWBOY WESTERN BOOTS 8 MSteve Madden Monicaa Charcoal Grey Silver Spiked Studded Boots Size 7.5 MFrye Veronica Slouch Pebbled Leather Boots Sz 6BLACK OR RED PATENT LEATHER BALLET PUMPS SIZE 10-16 HEELS 0"- PRODUCER- POLANDMINNETONKA TRIPLE FRINGE MOCCASIN BOOTS RICH COGNAC BROWN WOMEN SIZE 5 , Madison Harding Susan Women's Brown Wedge Bootie , 2017 TORY BURCH s7 Black Velvet Logo-Chain Espadrille Flats Slides Slip-On SHOES , Camper Women's Black Leather Flats Pointed Toe Shoes 37 7 , DKNY Womens Seaport platform Pointed Toe Loafers Silver SIL Size 6.5 , Munro Yale Black Womens Shoes Size 6.5 M Flats MSRP $220(F/Z) NWOB ANTONIO BERARDI SUEDE LEATHER PUMP HEEL SHOE SIZE 40 (TACO500Nike Womens Size 11 White/Silver/Blue Reax Run 5 Running Shoes 407987-002women's pull on breathable flat heel sneaker sport shoes casual oxford shoes new , Adidas Women's Tubular Shadow Originals Running Shoe , FitFlop Women's Gogh Pro Superlight Medical Professional Black Patent Size 5.0Adidas Originals Gazelle White Suede Women Size 8 Tennis Shoe SneakerWomen's CLARKS Women's Keesha Donna Mule FlatsSize US 4-13 Women's Block High Heel Side Zipper Bowknot Ankle Bootie Lady Pumps
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Giuseppe Zanotti Snakeskin Gold Snakeskin 36 Ballet Flats Size Giuseppe 36 4b7cb80 Flats
Powered by VIP.