The Buzz
All markets and investing news all the time

Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9




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: Troentorp Bastad Clogs
Style: Low Top

Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9 - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9
Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9 - 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%.

Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9 - hollisbaker.com
About This Author
Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9 - 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
 
La Sportiva Helios 2.0 Trail Running Shoe - Women's , Nike Air Presto PRM Premium Midnight Navy Blue White 878071-400 Women's Sz 7 New , Nike Epic React Flyknit AQ0070-010 Gunsmoke BRAND NEW Size 6.5 , NIB YRU Pink Lala Platform Sneakers Trainers Vegan Women’s size 8847154-600 Nike Women Air Max 90 Ultra LOTC QS Shanghai Night Maroon Gym Red , New Adidas Original Womens STANS SMITH BOLD WHITE / WHITE AQ1087 US W 5-11 TAKSENike Wmns Air Zoom Structure 22 Blackened Blue Orange Women Shoes AA1640-400Womens Nike Air Max 95 307960-010 Black/Black Brand New Size 10.5Nike Epic React Flyknit AQ0070-010 Gunsmoke BRAND NEW Size 10.5 Women’sNike Roshe One Flyknit Casual Women's Shoes Size 6.5NEW NIKE Air Rift PRM QS SZ 9 WMNS 40.5 Pink Running Training 848502 600 GumAsics Gel-Nimbus 20 Lite-Show Black Reflective Women Running Shoes 1012A037-001 , Nike Women's Air Max 1 Ultra 2.0 Si Shoes White Blue Green Volt Platinum sz 6Nike Women's Size 8.5 Air Max Thea Black Summit White 599409-020New Balance WSX90PLA B X90 Grey Silver White Women Running Shoes WSX90PLAB , Women's Nike Air Max 95 Ultra Running Training Shoes Size 6ADIDAS CG3946 ULTRABOOST X CLIMA Wmn´s (M) White/Pearl Prime Knit Running ShoesAdidas Aerobounce ST W [CG4584] Women Running Shoes Aero Blue/Chalk BlueHunter WFT1000RGL-RVI: Women's Original Violet Tall Gloss Rain Boot , New Balance WL840RTS B [WL840RTSB] Women Casual Shoes Sail , Nike Roshe One Lx Athletic Women's Shoes SizeWmns Nike Air Huarache City Womens Streetwear Lifestyle Shoes Sneakers Pick 1Nike Wmns Free RN Flyknit 2018 Black White Women Running Shoes 942839-001Asics Gel-Nimbus 20 Wide Carbon Grey Green Women Running Shoes D Width T851N-020Nike Free 4.0 Flyknit Wmn Shoes Sz 11 717076-005 Pure Platinum Black WhiteNike Wmns Free TR Flyknit 3 White Black Womens Training Shoes Trainer 942887-101 , WOMEN'S Nike Metcon 3 Sz 7-9 Pure Platinum/Tea Berry 849807-005 FREE SHIPPINGFee People Mexicana Womens Directional Embroidered Sneakers Size 37 Orig.$638New Balance Women's W1080BW8 Running Shoe Black with White 1080v8 Brand 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 Bucco Capensis Venita Brown Boot SIZE 9 BOX IS DISTRESSEDAlberto Fermani Beige Leather Block Heel Mid Calf Boots Size 36.5 6.5 , Red Winter Comfortable Flat Ankle Boot Fur Inside Size 6.5 , Lustacious Women's Cut Out Double Buckle Strap Stacked Heel Ankle Bootie with...Gorgeous SAM EDELMAN James Thigh High Over the Knee Gray/Beige Suede Boots, 9 , New Vince Camuto VOLERO2 Wide Calf Black Smooth Calf Elastic Leather 7 M $199$198 COLE HAAN ASTORIA Blazer Blue Open Toe Designer Flats 6 , LifeStride Women's Ravish Black Riding Boots , German Shorthaired Pointer Print Faux Fur Boots For Women-Free ShippingDansko Professional Embroidered Pro Taupe Milled Nubuck - US 12 - was $135Marni Black & Cream Trim Neoprene Peeptoe Elastic Ballet Designer Flats Size 37 , NEW Sz. AETREX Berries Black Strap Shoes Dri-lexLadies Rieker Slip On Pumps L3051 , Pour La Victoire HILA 2 MonkStrap OXFORD Leather Shoes Women 9.5 Egsh MP$250 NEW , Brunello Cucinelli Black Leather Embellished Monili Derby Shoes Sz40/10~RTL850 , AE803 MOMA shoes yellow leather women moccasinsBRAND NEW WITH THE BOX TORY BURCH JESSE QUILTED SNEAKER SIZE 9.5 IN BLACK , Skechers White Gray Pink Shape Ups Shoes Womens Sz 9.5 Sneakers Walking Athleticnew womens Harajuku high top canvas shoes Japanese sneakers trainners shoes size , SUPER RARE Nike Zoom Vapor II 2 Golf Shoes SAMPLE/PROMO Not for Sale Women 102017 HOT Womens Size Spring Slip On Loafers Shoes Ladies Flat Canvas Casual ShoeSpenco Chambray Slide - Women's Supportive Shoe Black - 9Women Mules Shoes Rabbit Fur Lined Slippers Loafers Snow Winter Shoes wedge heelGatsby Flying Saucer Denim Jon Josef Loafer FlatNIKE WMNS FLYKNIT LUNAR1+ SQUADRON BLUE-ATMC PINK SZ 6 [554888-461] , Saucony Womens Running Shoes Size 8 (33459)Women's Suede Cole Haan women's Wedges Flats , Womens Aerosoles Ankle Boots Size 6m Suede Leather Side Zip double trouble blueMinnetonka Women's Moccasins, Brown, Size 9M, USSkechers Women's Lite Step-Reactive Oxford - Choose SZ/color ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Troentorp localjoes-9504 Bastad Clogs 9499 Women's O'Keefe O'Keefe d2c10e9 Athletic Shoes
1315372
1925328
4229437
4568944
5003444
7058393
9138250
11076818
17499869
Powered by WordPress.com VIP.