The Buzz
All markets and investing news all the time

Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656

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: Loafers, Moccasins
Brand: Twisted X US Shoe Size (Women's): 5.5-12

Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656
Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656 -

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%.

Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656 -
About This Author
Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656 -
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
Buffalo Reed Boot Women Booties Boots deco-closure leather lightweight comfy NEWVintage Polo Ralph Lauren Harness Combat Motorcycle Leather Women's Boots 6.5Womens Dansko Professional Black Metallic Suede Dress Pro Clog 106470202 40, 42Womens Dansko Professional Bronze Metallic Dress Pro Clogs 306297878 Size 36 , Womens Dansko Professional Exotic Floral Print Casual Pro Clogs 506870202 37-40 , PWomens Dansko Professional Candy Patent Pro Casual Clogs 706090202 Sizes 37-41Versace Jeans Women's Sparkle Silver Fashion Sneakers Shoes Sz 8 9 10 11NEW Dansko Professionals Women’s Sz 38 7.5/8 M Black Patent Leather ClogsDansko Professional Work Clog - USA Clog - Support / Comfort / Quality , MBT Women's Kesho Mary Jane Shoes size 9-9.5 , Work Wonders by Dansko Women's Coral Slip On Slip Resistant Shoe Blue PrintNEW KING GEE WOMENS COMP-TEC G3 COMPOSITE TOE SAFETY SHOESAriat 10002367 Safety Clog Steel Toe Slip On Abrasion Resistant Work Shoewomens 2018 stylish fur new round toe rhinestone flat shoes slip on multicolorApex Ariya Women's A500W Comfort Walking Shoes - Size 10 - New in BoxWomen's MERRELL Zoe Sojourn Knit Grey Castlerock Nylon Vegan Stretch j99094 , GH Bass Weejuns Ladies Hi Shine Estelle Crepe Sole Loafer in BlackHUSHPUPPIES H951179 Frontier Womens Steel Toe Safety Boots Gray Size 9 m NEW , Dansko Womens Size 40 Professional XP Embossed Black Medallion Leather Clogs , DANSKO OPAL Ladies Metallic Leopard Style Mary Jane Size () , Dansko Womens Size 40 Pro XP Cabrio Oiled Black Leather Clog Slip Resistant Work , Naturalizer @ Work Womens Freeda Slip Resistant Clog ShoeAravon Winsor Moc Slip On - Women's Size 10 (2A) - BlackDansko PRO XP CABRIO BLACK Womens Leather Slip Resistant Comfort Clogs Shoes , ARIAT WOMEN'S BLACK LEATHER STEEL TOE SAFETY CLOG 10002368 COMFORTABLE WORK SHOEWomen's MERRELL Zoe Sojourn Knit Black Castlerock Nylon Vegan Stretch j95256Tommy Hilfiger US Shoe Size Women Comfort Fashion Casual Athletic White Sneaker , JOSHUA SANDERS Bow Felt Slip-On Sneakers Sz 35 EU / 5 US $350 NWB. , Dansko Professional Clog Silver Floral Patent Womens sizes 36-42/6-12 NEW!!
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 Brilliant Waterproof Suede Ankle Boots Fur Trim Sz 8.5 M Very Very Gently WornReport Elianna Boot - Women's Size 6, Dark Brown , Mango-51 Mid Calf Synthetic Zipper Low Heel Women's Casual Boots Black 8.5- , NEW Womens Easy Street Scallion tan Size 8.5 WW R39 ssJessica Alba Camo Boots Womens Size 9 , New Zigi Soho Womens Imrie Brown Leather Buckle Ankle Boot Shoes Size 6 M , Ecco Womens Black/Gray Smoky Patent Leather Knee High Block Heel Boots 38/ 7.5-8 , Holly Women's Twin Button Single Button Faux Fur Lined Boot Brown Size 9M , Women Bearpaw Emma Tall Boot Suede 612 Hickory II 100% Authentic Brand NewBORN W3449 F7 9.5M Black Leather Side Zip Fashion Boot , Columbia Black 200 Grams Omni-tech Waterproof TechLite Snow Boots EUC Women's 9 , Carisma Women's Brown Leather Pull On Fold Down Block Heel Boots US Size 9 , Badgley Mischka Prize Black Leather Pointed Toe Heeled Ankle Boots WM Sz 5.5 MWomen Shinning Patent Leather Ankle Boots Pearl Med Block Heel Square Head Shoes , Cole Haan Air Black Leather Suede Waterproof Booties size 9 Side Zip Ankle , Alfani Womens Vitaa Suede Almond Toe Ankle Chelsea BootsREPORT SUEDE WINTER BOOTS FAUX FUR TRIM SIZE 9Ariat Womens Caldwell Hiking Shoe- Pick SZ/Color.Womens Steve Madden Orlene Shoe Black Synthetic Over the Knee Boots Sz 7.5 M NEWVince Camuto Women's Fenyia Stacked Heel Bootie GG8 Foxy Size 7M , AGL Attilio Giusti Leombruni Grommet Suede Flats Shoes Pointy Toe Berry Red 7.5Josef Seibel Women's Pippa 07 Flat Black Calk Kombi 39 BR/8-8.5 M USFrye Women's Grey Melanie Slip On Shoes - 71146-GRY , TOD'S WOMEN'S LEATHER SLIP ON SNEAKERS NEW ORIGAMI BLACK 079Drew Women's Fiesta Comfort Shoes Black CalfCole Haan Womens Myrnasam Closed Toe Loafers, Pink/Taupe, Size 6.0Women's Tod's Metallic Leather Sneaker, 38.5 Flats , JustFab Women's "Honna" Ankle Boots , in Cognac- Size 6 , Dr Martens Women's Size 3 Low Top Boot/Shoes Black Leather, Great ShapeDrew Fusion Comfort Shoe in Black- Size 10N
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Twisted X Womens 27800 ECO Driving Moc Womens Slip Slip On Dust WDMS009 5e18656 Comfort Shoes
Powered by VIP.