The Buzz
All markets and investing news all the time

Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb




Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb
Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb - 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%.

Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb - hollisbaker.com
About This Author
Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb - 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
 
Nine West Women's Onosha Fabric Fashion Sneaker - Choose SZ/Color , WOMEN'S NIKE AIR ZOOM PEGASUS 34 FlyEase SHOES BLACK 904677-001 SIZE 7 WIDE , Pleaser Pink Label Women's Eve-02 Ankle Strap Sandal Black Faux Leather , Women's Nike Air Force 1 High Light Rave Pink Sample Shoe Size 7 , Skechers Street Women's Mila-Growing Groovy SneakerFRYE Women's Ivy High Top Sneaker, White, Size 9.5 , ECCO Women's Marine Blue Fonce Sneakers US 10 - 10.5 M , Ryka Women's Hydro Sport Water Shoe-W, Detox Twinkle Blue/Chrome Silver, 10 M US , Arc'teryx Acrux FL GTX Hiking Shoe - Womens Size USA 8 - Pink/Grey - MSRP $230Under Armour Men's Street Precision Slip On Color Blocked Cross-Trainer Shoe , Women's Adidas Ultra Boost X size 9 BNIKE Free TR 6 PRT 833424-006 Athletic Running Shoes Black Purple Women Sz 8.5 , adidas CF Advantage Vapor Grey Metallic Pink White Women Shoes Sneakers DA9524 , Vibram Women's Alitza Loop Cross-Trainer Shoe, Nightshade, 37 EU/6.5-7 M USPuma Fierce Satin EP Pearl Women's Shoes Size 10 US Art No 190545 02adidas Women's Training Climachill Tights - Choose SZ/Color , Skechers Sport Women's Elite Synergy Fashion Sneaker - Choose SZ/ColorSAS Free Time Mocha Leather Casual Comfort Oxford Footwear Women's Size 9M EUCWomen's White Leather/Microfibre Tennis Shoes Size 6 Medium by "James Hardin" , Skechers 15200 BKW Go Run Ride 7 Black White Women's Running Shoes US 6.5 MBalance Women's 910V4 Running Shoe, Sea Spray/Alpha Pink, 6 D US , New Balance Women's 300 Lifestyle Fashion Sneaker , Propet Women's Tour Walker Strap Sneaker,White/Blue,6.5 XX (US Women's 6.5 EEEE) , Asics Gel-Contend 4 Grey Orchid White Women Running Shoes Sneakers T765-N021Adidas Running Black Sz 7 Bounce Sneakers Women’s Training Gym Athletic , Steve Madden Women's Ecentrcq Slip-On Fashion SneakerNIKE FREE RUN 2017 FLYKNIT SNEAKERS ROYAL BLUE SZ BNIB , New Balance Women's 247v1 Sneaker - Choose SZ/Color , Converse Women's Chuck Taylor All Star High Top Sneaker Punch Coral/Egret/Egret
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 Black Multi nn Ankle Boots Stiletto Platforms Women 6" High Heels Shoes Size 7 , Tony Lama Style 1153 Size Women's 7W Brown Leather Western Roper BootsVasque Womens Talus Ultradry WP Leather Cushioned Outdoor Hiking Boots Size 8.5 , Tory Burch Brown Suede Gold Logo Booties 9.5 , Sporto Side Winder Waterproof Cold Weather Boots 136, Black, 6 US Display , Willowbee Alyssa Boots, Women's Size 8 M, GreyFrye Melissa 77120 brown leather & canvas riding boots Size 6.5Frye Boots Womens Size 5.5M Valerie Piping Booties Charcoal Gray Leather HeelsMUKLUKS Women's Gray Mid Calf Knit Sweater Accent Buckle Suede Jean Boots Size 7Black long 1"Platform Over Knee Sexy Boots Size 8 , Versace 19.69 MARGIE 1 ABRAS. BORD boots Women's Bordeaux USLOUISE ET CIE Women's 'Verdana' Suede Bootie Boots Black sz 7 - 7 1/2 NEW $159Womens AGL Attilio Flats Shoes sz 8.5 38.5 M Brown Leather Black Patent Tip , samples shoes BALLERINE VISION STREET WEAR IRMA VEP WHITE BLACK WOMENNine West 25025370 Womens Onosha Leather Fashion Sneaker- Choose SZ/Color.Gentle Souls Penn Studded Leather Ballet Flats, Women's Size 8.5M, Black , Mephisto Womens Beata Pump- Choose SZ/Color. , New BRUNELLO CUCINELLI Brown Leather W/ Glitter Loafers Shoes 39.5/9.5 $1625YSL Saint Laurent Logo Soft Black Leather Espadrille Flats Size 39EU/9US~$525 , NIB NEW Salvatore Ferragamo Lustra Varina Black patent flats 6 7.5 8 9 9.5 10� Dr. Martens Doc MIE England Thoby Brown Italian 3989 Brogue Shoe US 8 �NIB $265+ Tory Burch ELOISE Ballet Flat Shoes Sz 8.5 Black Leather / Patent , 206 Collective Women's Leona Slip-on Loafer Black Leather 9 M USThe FLEXX Women's Smokin Hot Slipper - Choose SZ/ColorBirkenstock Black Leather Oxfords Shoes Women's 7 Men's 5 , New Balance 781 Abzorb Women’s 7.5 B White Blue Leather Non Marking Tennis ShoesWomen's Manolo Blahnik 41 Booties Boots , Women's INC Herbii Women's Boots Caramel Boots , Sugar Womens Prodigy Closed Toe Over Knee Fashion Boots Tan Size 6.5 kcJV , Rieker Anti-Stress Pleated Black Leather Bootie Women's 42 US Shoe Size 11M ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Puma Ignite Pwrwarm 18811302 Running Shoes Coral (B,M) Pink Medium Puma Shoes (B,M) Women 6c107cb Athletic Shoes
34602
113897
1240115
2379606
4938137
8610171
8763346
9888585
10694394
Powered by WordPress.com VIP.