The Buzz
All markets and investing news all the time

New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49

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: Vivobarefoot
Style: Nursing & Uniform Material: Leather
Heel Height: None

New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49
New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49 -

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 Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49 -
About This Author
New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49 -
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
Marco Tozzi Premio Booties 26234 Women Booties Boots removeable insole - NEW , Romika Remo 310 Women shoes Scuffs & Mules slippers width F1/2 (narrow) - NEW , Romika Romisana 82 Women shoes Scuffs & Mules slippers Width H (Wide) comfy NEW , Romika Mokasso 138 Women Scuffs & Mules slipper narrow comfy sandals - NEWRomika ROMISANA 83 Women Scuffs & Mules slippers wide-width comfy sandal - NEW , Romika Mikado 104 Women shoes Scuffs & Mules slippers width G - regular - NEWClarks Soft Cushion Everlay Elma 9 M Black Leather Sneaker Oxford Womens $85 , Womens Nurse Slip On Nursing Shoes White Comfort Wedge Walking Shoes , Keen Boot 7.5 Bern Baby Black Tall Buckle Lined Leather Side Zipper Stretch Calf , NEW NURSE MATES DOVE WHITE WOMEN NURSING SHOES 229904NEW Dansko Black Gray Embossed Patent Clogs Shoes 40 9 9.5 M , SHOES ARAVON Bromly Oxford ABH01TN Womens US 11 D CM 28 Tan NEW , Dansko Pro XP Medallion Patent shoes clogs size 40 , Dansko Allison Brown Floral Embossed Mule Buckle Detail Shoe SIZE 41/ 10.5 - 11Brand New Alegria Keli Bronze Bouquet , Size 38 (8-8.5) , Womens APEX Mary Jane BROWN leather Extra Depth SHOES Orthopedic Diabetic 9W 9 , Mephisto Womens Allrounder Niro Blue Suede & Shimmer Maryjanes Size 9 Shoes , Brand New Alegria Jemma Navy, Size 37 (7-7.5)Cole Haan Pinch Genevieve Weave Black Leather Loafer Womens US Size 7 NEW in BOXBrand New Alegria Vanessa Chrysalis Black , Size 38 (8-8.5)Dansko Clogs Size 40 Brown 9.5 - 10 Buckle Heel Leather Comfort Shoes , Women's Embroidery Flowers Patent Leather Wedge Sneakers Platform Brogue Shoes , Brand New Alegria Classic Blubbish, Size 37 (7-7.5)Flirt by Alegria Metallic Pewter Dazzler Comfort Shoes Wedge Heel FLI-532 Sz 9Guess Red Black Cowboy Boots 7.5 Western Leather Style Punk Pointed Toe G5 , NEW ALEGRIA KOURTNEY DELICUT KOU-435 NIBBrand New Alegria Keli Disco Inferno , Size 37 (7-7.5)Abeo Tia Flats Floral Multi Color Women 7N EUCDansko Women's Shoes Gray Black Animal Print Round Toe Size 40/9 ,
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 4 Color Fashion Buckles Zip Open Womens Knee-High Boots Low Heel Shoes , NEW KHOMBU WATERPROOF SLOPE WINTER BOOTS GREY LEATHER WOMEN'S Sz 8 ALL TERRAINMadden Girl Women's Western Fashion Boots Size 6.5 M (Lot A) , J.Crew Bronson Grey Suede Ankle Boots, Size 8.5 Booties ZipperedVintage Zodiac Women's Western 7.5 M Campus Boots Great Condition Ships Free!FREE SHIP SheSole WomensCowboy Boots Western Country Wedding Shoes Size 6-11Fergalicious Womens Lexy Fabric Almond Toe Knee High Fashion BootsTommy Hilfiger New Ripley Brown Womens Shoes Size 7.5 M Boots MSRP $99 , Women's Indigo by Clarks Size 7.5M Mid Calf Boots Brown Distressed Leather Q14LUCA LUCA Italy Cheetah Print Velvet Pointy Toe Stiletto Boots Size 37Schutz Toor Flats Size 8B Summer RedHot Chocolate Design Chocolaticas Patilla Women's Mary Jane Flat MulticolouredAK Anne Klein Sport Buttons Fabric Womens Ballet Flat 8- Choose SZ/Color.54553 auth BOTTEGA VENETA navy blue patent leather Ballet Flats Shoes 39TOD'S women shoes Black grain leather iconic tie front "gommini" loafer , **Arche Onange Flats, Women's Size 40 (US 9), Black , MARC by MARC JACOBS Ballerines Mocassins 36 Aubergine Loafers Ribes BallerinaFitFlop Women's Shuv Patent Mule Black 8 B(M) US , Dansko Oksana Leather Loafer Black Women Sz 36 , ASICS Womens T696n DivaBlue/Silver/AquaSplash Running Shoes Size 9 (361693) , ASICS HYPER SPEED 3 Running Yoga Metallic BLUE & ORANGE Womens Shoes Sz 7.5 �b3 , Men Running Sports Shoe Breathable Travel Tourist Men's Ventilation Skate Shoes , New Velvet Leather Mules Loafers Embroidery Shoes Pointy Toe Slippers Women Size , NINA ORIGINALS Patchwork Slip On Sneakers shoesSkechers Women's Vaso-Bueno-Perfed Twin-Gore Slip Air-Cooled Memory Foam SneakerGant Women's Zoe Trainers - MarineConverse Women's Chuck Taylor All Star Ox Basketball ShoeSandro Womens Sneakers Size 39 9 Pink Leather Hook Loop Tape Fasteners , Women's Trevor womens boots size 7 BootsWomen's Mephisto Lilou Black Nubuck Suede Leather Shoes 8 Casual Slip On 226157
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
New Vivobarefoot Legacy Womens Vivobarefoot Trainer Leather Leather Minimalist Sneaker Trainer f240e49 Comfort Shoes
Powered by VIP.