The Buzz
All markets and investing news all the time

TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550

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
Brand: Redfoot
Material: Micro Fiber Style: Unique Folding Shoes
Color: Multi-Color

TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550
TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550 -

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%.

TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550 -
About This Author
TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550 -
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
Womens New Loafers Shoes Mules Pearls Block Heel Square Toe Slippers Casual ChicNew Charles David Womens Danni Black Ballet Flats Size 8 , Chic Women New Real Rabbit Fur Furry Flat Slip On Casual Mule Loafers Shoes , Womens Peep Toe Occident Europe Slim High Heel Stiletto Flower Sandals Shoes HotNew Cappuccino - Hand Crafted Leather Moroccan Slip-OnOccident Lady Multi colored Rhineatone flowers leather women's Creepers shoes sz , Chic Women Sequare Toe Metal Buckle Slip On Block Heel casual Loafers ShoesLeather Women Pointy Toe Strap Wedge Heel Casual Sandals Shoes Size , Django & Juliette Hatch Leather Embossed Loafer - Pale GoldNew SERENA BLACK - Redfoot Stylish, charming and very comfortable folding shoes , Hot Women Med Block Heel Sexy Party Slip On Shiny bowknot Sandals Shoes LoafersWomen Pointy Toe Emboridery Suede Shoes Mules Loafer Pumps Slingbacks Rhinestone , Women Leather Platform Round Toe Wedge Heel Sneaker Casual Shoes SizeWomen Genuine Leather Rabbit Real Fur Lined Embroidery Loafers Slipper Mules New , Womens Moccasins Real Leather Loafer Casual Slip on Oxford Flat Heel ShoesFashion Women's Patent Leather Chic Rhinestone Embroidery Square Toe Mules Shoes , Ron White 'Rita' Loafer, Sand Nubuck Leather, Womens Size 5.5 / 36 EWomens Leather Sequin Shiny Square Toe Bowknot Loafers Slip On Moccasins Shoes , Chic Womens Pearl Decor Platform Slingback Casual Slippers Shoes US Size 4.5-8 # , Women's Paillette Shiny Slouch Canvas Loafers Slip on Round toe Flat Shoes News , Sam Edelman Rae Flats, Black, Size 6Womens Bowknot Bees Pearls Embroidery Slip On Loafers Flats Shoes Cow Leather wiWomens Leather Comfort Hollow Out Flats Casual Loafers Pumps Slip on Chic GoldEuro Womens Floral Rhinestone Sport Casual Shoes Running Comfy Fashion SneakersBlack Gold - Moroccan Slip-On - Canadian Seller , Womens Suede Shoes Multicolor Slip ons Loafers Flats Square toe Moccasin GomminoWomen Leather Pump Block Chunky Low Heels Office Solid Pointy Toe Grace Shoes Sz , Chic Floral Rivet Point Toe Flats Casual Slippers Mules Loafers Shoes Satin Lady , Olukai Ladies Nohea Canvas Shoes 2015 Ocean Depth 6.5 ,
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 Restricted Women Black Over The Knee Boots Suede Leather Fold Down Pull On Sz 6 , Vintage Sporto Original Rain Snow Duck Boots Black Brown Leather Rubber Womens 6Women's Vince Camuto Cider Shoes Black Leather Ankle Boots Size 7 M NEW!New Woman Skechers Shelbys - Vancouver 48604 Winter Casual Boot Size 7(US)14th & Union Boots Booties Size 11 Black Suede Pull On Shoes Ankle Boots NWOT , Motorcycle Boots - Black - Inside Cushion - Leather-Like - Slip-On - Size 8 , WOMENS JUSTIN APACHE L3408 BROWN LEATHER ROPER COWBOY WESTERN BOOTS SZ 7 B 7B , J Crew Suede Lowell Boots Brown Women's Size 6.5 $298 A9827 Buckles GUCBare Traps Womens Leni Leather Closed Toe Ankle Cold Weather Mud Size 10.0 gsmSteven by Steve Madden Doris Brown Womens Shoes Size 8.5 M Boots MSRP $129Jessica Simpson Womens Calvey Ankle Bootie- Pick SZ/Color. , Women's Justin L2703 Tan Puma Western Cowboy Boots Size 6 B Bridal Boots , New Womens Merrell Snowbound Mid Insulated Waterproof Winter Snow Boots Size 8Joie Suede Leather Mid Calf Boots Chestnut Brown Women's US 6 , Black Womens Fashion Zip Block Heels Embroidery Floral Suede Ankle Boots Plus szSoftWalk Women's Naperville Ocean Blue Woven Soft Nappa Flats , Cole Haan Womens Shoe Size 6 Garnet Driver , GH Bass Weejuns Womens Red Patent Leather Penny Loafer Size 6.5 , NIB Valentino Rockstud Leather Ballerina Ballet Espadrille Flat Shoe 39 BLACK 9Kenzo Faded Pink & Black Classic Espadrille Shoes Size 8(US) 38(IT) NEW NWB $236 , Johnston Murphy Womens Orange Suede Maureen Moccasin Loafers Flex Flats 6.5 $167 , Asics Onitsuka Tiger Alvarado [D7J8L-9696] Women Casual Shoes Mid Grey/WhiteREEBOK WOMEN HARMAN TRENDY CLASSIC STYLE COMFORT WALKING RUNNING BLACK SNEAKER , NIKE AIR MAX 1 ULTRA PLUSH WOMEN'S SHOES SIZE 7 NEW IN BOX 844882 002 , New Vans Sk8 Hi Slim Zip Leather Green Zephyr White Skate Shoe Women Size 10 , Womens Block Med Heels Patent Leather Pointed Toe Shiny Shoes Pull On Knight M86Thom McAn Black Leather Zip Heel Fashion Ankle Boots Booties Size 8 W , NEW DIRECTION SZ 7 Charm Taupe Booties Boots ExcellentWomens British Fur Lining Round Toe Pull On Winter Warm Mid-Calf Boots Shoes US8NEW MAX MARA MM40 Nudo Suede Sneakers Shoes size 37 US 7
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
TAYLOR GREY LEOPARD GREY - Redfoot Stylish, shoes charming 20461 and comfortable folding shoes bdb1550 Flats
Powered by VIP.