The Buzz
All markets and investing news all the time

New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b

Item specifics

New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Accents: Knitted
Color: Multi-Color Style: Winter Boots
Brand: Skechers Pattern: Animal Print

New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b
New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b -

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%.

New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b -
About This Author
New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b -
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
Stretchy Womens Side Zip Mid Calf Boots Mid Block Heels Buckle Shoes Size CasualNEW Womens SOLESENSEABILITY SELINA Black Casual Fashion Tall Knee High Boot Shoe , Women's Faux Suede Ankle Boots High Heels Winter casual Shoes Party LeisureWomen's National Floral Embroidery Flats Casual Moccasin Knee High Boots SHOESWomen 2018 Casual Low-heeled Chunky Large Size Anti-slip Suede Snkle Boots ShoesWomen Ankle Boots Metal Decor Faux Leather Zipper Shoes Chunky Square Toe BlackWomen's SONOMA DORIS Brown Knee High Riding Casual Dress Boots NEWSam Edelman Size 8 Women's Jacelyn Pointed Toe Suede Brown Bootie 7805Womens Platform Stiletto Ankle Booties w/ Buckle Accent Light Brown Size 5.5-10 , WOMENS TEVA 4334 VERO WINTER STYLE SUEDE TALL BOOTS SIZE 5 , Liz Claiborne Womens Boots Amberly Man Made Solid size 5 5.5 6 6.5 7 NEW , Yellow Box Letty Black Suede Leather 28715 1 3/4" Women's Booties W/ Back ZipperFashion Womens Patent Leather Wedge Heel Shoes Shiny Platform Mid Calf Boots Sz , Dr Scholls Womens Boots Tall LASSO US 9 M Beige Suede Zip Casual Heels 2806Aldo Knee High Camel Brown Suede Leather Pull On Low Heel Boots SZ 39 / US 9 , Women Winter Boots Suede Leather Faux Fur Snow Boots Black Brown warm shoes , New Womens Faux Suede ROund Toe Block Heel Shoe Ladies Tassel Fringe Ankle Boots , Jbu By Jambu Gwen Duck Shoes Womens Rain Boots Low Heel , Fashion Women's Wedge Hidden Heel Knee High Boots Tassels Snow Warm Gothic RetroSteve Madden MANNTRA Suede Leather Tall Boots Women’s Size 10 , Lucky Brand Black Leather Boots With Belt Straps Size 10NEW Women's NORTHSIDE Buttons Brown Faux Fur Insulated Winter Snow Rain BootsBCBG Paris Women's Size 6.5B Brown Knee High Boots With Zipper And Buckle Accent , Womens Knee High Boots Over The Knee Button Accent Comfort Shoes black , Sporto Jennifer Women's Faux Fur Mid-Calf Fashion Boots Size 9.5 MWomens Synthetic Leather Pointy Toe Flat Heels Motorcycle Ankle Boots new Shoes , Womens Knee high Boots Platform Hidden Heels Round Toe Fur top Flat warm Shoes , Vintage Women Roman Chunky Heel Ankle Boots Buckle Punk Faux Leather Casual Shoe , Womens Fashion Hot Ethnic Toe Ankle Boots Sweet Red Blue Black Shoes ,
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 Banana Republic Black Ankle Boots Leather Booties Office Heels 6.5 High StilettoAR35 Cadee Ankle Booties 909, Tan, 8.5 USharley davidson black leather boots 7m , New BLONDO Venise Waterproof Riding Boots sz 6 M , CROCS JAUNT GEORGIE RAIN SNOW BOOT SHOE~Yellow~Women 4 Mens 2~NWTMarco Tozzi 25800 Women's Boots, Ankle Boots, Boots grey 25800 NEW2018 New 12cm High heel sexy Cross-tied Pointed Toe Lockable ankle Strap BootsSperry Top-Sider Langley Brown/Leopard Boots 9775958 Womens Sz 6.5 M NIBWomens Diego Di Lucca Funky Hair Brown Calf Boots 10 M Zipper A055NEW! Comfortview Sz 9W Leather Boots-Wide Calf- 16" Shaft HeightQuoddy Woman's 8M HAND-STITCHED SLIPPERS FRINGE MOCCASINS SWIVEL ACTION LeatherVince Camuto Wintela Brown Leather Ankle Boots Women's Shoes Sz 9 M NEW RTL$189ALL SAINTS WOMEN’S DISTRESSED GRAY LEATHER CUBAN HEELS ANKLE BOOTS US 9.5NIB STUART WEITZMAN Bolshoi Leather Ballet Flats 5 , Cobb Hill Galway Woven Loafer, Black, Size 8.0 , VINCE CAMUTO BANDS QUILTED NAPPA BLACK WOMEN FLAT SLIP ON SHOES MULTISIZE AS , JIMMY CHOO WaiIne Gold Chain Cap Toe Leather Ballet Flats Sz 37.5/7.5 , NIB TORY BURCH BLUE LEATHER JOLENE TORTUGA PATTERNED BOW GOLD REVA FLATS 10.5 , Stuart Weitzman Women's Silver Noir Divine Pointed Toe Flats Sz 9.5M 2798 , Womens STUART WETIZMAN snake print leather fancy mules Sz. 6 B $350Andrew Charles Womens Loafer Yellow VICTORY , Circus by Sam Edelman Women's Charlie-25 Sneaker, Poseidon Blue, Size 8.52017 New Womens High Platform Slip On Loafers Faux Suede Causal Shoes Sneakers , Munro Women's Platinum Fabric Skipper Perforated Slip On Sneakers Sz 5WW 7014Sebastian Milano Womens S6300 Hi Top Sneaker Black Calf & Gold Size 37 EUadidas Women's Element Refresh 3 w Running Shoe - Choose SZ/ColorRL Ralph Lauren Women's Brown Real Leather BOOTS Size 9 B , NEW MERONA DINA GREY FAUX SUEDE SCRUNCH TALL BOOTS WOMEN SIZE 8Winter Womens Cotton Lined Thickening Warm Non-slip Waterproof Snow Ankle Boots , Nurse Pregnant Women's Leather Fur Lined Warm Boots Oxfords Hospital Work Shoes ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
New Animal! 27240 Women's localjoes-27243 Skechers Keepsakes-Animal Knit Snow Boot - Animal Print W1 cec321b Boots
Powered by VIP.