The Buzz
All markets and investing news all the time

CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756

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
Pattern: Glitter
Style: Sneakers Brand: Chiara Ferragni
US Shoe Size (Women's): 40 UPC: Does not apply

CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756
CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756 -

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%.

CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756 -
About This Author
CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756 -
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
NIB TORY BURCH CHERRY BROWN SNAKE PRINT LEATHER GOLD REVA YORK BALLET FLATS 7 , Gianni Renzi 0006h Black Leather Loafer Fold-Down Heel / Flats 36 / US 6 , AD93 MOMA shoes white leather women moccasinsREED KRAKOFF Mushroom Snakeskin/Lizard Fashion Oxfords - 39.5/US9.5 - Mint w/BoxIsabel Marant Etoile Cana Printed Canvas-twill Espadrilles SZ 39 =US 8.5 -9 -NIBGianni Renzi 0006i Red Leather Loafer Fold-Down Heel / Flats 36 / US 6 , Super glamorous Belgian Shoes Black Velvet Smoking Slippers Loafer Shoes , Mally 6265a Green Stamped Leather Pointy Toe Ballet Flats Moccasins 36 / US 6Punchmoc Ale Stuart Weitzman Loafer Flat , Imagine Vince Camuto Women's Garyn Ballet Flat, Inkwell Blue, Size 6.0 , Mephisto Women's Laser Dark Brown Leather Comfort Flat , Aquatalia White/Brown Seude Women Sneakers Size 6 5052 , NIB J Crew Lucie Tartan Plaid Pumps w/ Star Embellishment Sz 7.5 Red SOLD OUT!Aquatalia Women's Perla Metallic Ballet Flat, Black, Size 6.5Lanvin Ballet Flats Burgundy Leather Shoes 37 Francewomen's shoes MBT 7 / 7,5 () flats black leather dynamic BT134-38 , Sperry Top Sider 6.5m Female ShoesAquazzura New With Tags Belgravia Flat Espadrille Cognac , Womens Moncler 'Josette' Calfskin Leather Espadrilles - Black - 5US / 35 (Z13) , Donna Piu 53101 Antique Beige Gold Leather Suede Zip Ankle Booties 39 / US 9 , GIUSEPPE ZANITTI DESIGN Gold Leather Silver Cap Toe Studs Ballet Flats 38.5 8MManolo Blahnik Women's Ballet Flats 7 1/2M//2 Brown Suede Solid NWOB , $225+ Tory Burch GABBY Sz 8 Elastic Trim Ballet Flat Shoes Black Patent Capwomen's shoes MOMA 6 () loafers blue suede BT156-36MOT-CLe 932 Gold / Rose Gold Leather Elastic Wedge Fashion Sneakers 39 / US 9 , NIB Tory Burch Blossom Floral Ballet Flat shoe Gold Logo Royal Tan Leather Sz 8RALPH LAUREN Purple Label HERRINGBONE fur Pattern LEATHER MULES heels NIBTODS Women's Black Loafers Size US.8.5 /EU.39 / UK.6.5 , Diesel Women's Kalling W Silver Dress Oxford 7.5M ,
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 Vince Camuto DUKE Womens US 8 B Black/Brown Leather Zip Knee High BootsNew Fashion Women Belt Mid-Calf Slip-on Casual Solid Height Increasing Boots , Refresh Dengo Ankle Boots - Women's Size 8, Black , New Nine West Size 6 M Women Suede Leather Red Knee High Boots , Capella-67 Fashion Over the Knee Zipper Casual Med Heel Women Winter Boots 7.5 , L4L by Lust for Life Womens Andie Black Over-The-Knee Boots 9 Medium (B,M) 9166 , VNTG TONY LAMA leather western cowboy boots 7W BLACK CHERRY/Burgundy-Made In USAChunky Heel Platform Black Boots size 11 MUDD , Arturo Chiang Black Leather Ride Boots MW & Anne Klein wedge sandals Size 8 1/2$100 Michael By Michael Shannon Womens Zoeyy Ankle Bootie Shoes, Black, US 7.5 , Rara Avis by Iris Apfel Mongolian Fur Boots Green Size 10 , BOCAGE - Bottes talons 7 cm guêtres tout cuir noir 38 - TRES BON ETATSperry Top Sider Size 6 Green Washed Out Boat Shoes New WomensWhite Mountain Womens Teague Suede Colorblock Winter Boots Shoes BHFO 4708 , Nine West Legretto Knee-High Boots 021, Black/Black, 5 US , NIB Disney Star Wars Irregular Choice Darth Vader Women's Flats Shoes ALL SIZESTory Burch Leather Snake Print Dress Casual Flat Shoes Women's Size 6.5 MCole Haan Real Calf Fur Slip On Loafers Flats Womens Size 7 M , Aquatalia Women's Fife Perforated Suede Mule, Sand, 8 M M US , WOMANS SAUCONY HORNET SHOE SIZE 10 GREY PURPLE SUEDE / NYLON RARE 2005 MODEL , DC Women’s Trase HI TX SE Black/Red High Top Shoe 7M , Women's Swimming Aqua Shoes Water Sports Light Non-slip Beach Walking Shoes Pink , Cole Haan Women's Jagger Sequoia Wingtip Oxford FlatCobb Hill Judson Perf Pump Black Womens Slip-On Size 7.5MWomens Birkenstock Mayari Holiday Birko-Flor Beach Summer Flat Sandals US 5-11 , Brooks Glycerin 15 Running Shoes - Women's Size 9 B - Pink/Purple/Silver , WOMENS ADIDAS ORIGINALS CRAZY 8 ADV METALLIC SZ 6.5 CORE BLACK WHITE CQ2842Women's Bernie Mev Womens Rigged Phoenix Flats , Women's Jubilee Black Butter Flat FlatsWomens Vogue Side Zippers Pointed Toe Stilettos Ankle Boots PU Shoes Red A139 ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
CHIARA CHIARA (SIZE FERRAGNI Glitter Flirting Slip Ons (SIZE Ons 40) ce05756 Flats
Powered by VIP.