The Buzz
All markets and investing news all the time

BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd

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
Main category: shoes
Style: moccasins Color: bronze
Brand: JEANNOT Material: leather
MPN: Does not apply Gender: women

BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd
BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd -

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%.

BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd -
About This Author
BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd -
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
Andrew Charles D125 NAPPA TAUPE ballerina shoes Women's Taupe USAravon Tonya Comfort Dress Shoes sz 9 1/2 Buckle Closure Wedge Outsole Pretty! , Andrew Charles D121 NAPPA BLU ballerina shoes Women's Dark Blue US , G.H. Bass & Co. Women's Skyler Oxford, Taupe, Size 7.0FRYE NEW $225 DYLAN ASH SLIP ON SNEAKERS FLAT US 7.5 7.5M , ELLA MOSS STACIA Multi-Colored Fabric Designer Flats Comfort 7.5 M , Mix No 6 Womens Rowland Pointed Toe Ballet Flats, Light Pink, Size 8.0J Crew Lily ballet flats in snakeskin-printed leather 8 Pale Stone $148 G7853BX61 GAUDI shoes black textile leather women sneakersCole Haan Womens Lynnesam Closed Toe Ballet Flats, Pink, Size 6.0 , Tortoise Patent Leather Flats by Stuart Weitzman sz 8.5 med Retail $285SEVERINE DARK GREEN LMSP70 Women's Shoe Size 7 M Eur 4.5 Leather Zip Up Mephisto , Versace 19.69 E08 SPRAY CELESTE DOLLARO ballerina shoes Women's Light Blue USVersace 19.69 E08 SPRAY VITELLO ballerina shoes Women's Taupe USTory Burch Reva 5.5 GREEN Skimmer Ballet Flats Shoe New Malachite Gold Suede , Corso Como 9.5 Black Worn Dylan MuleCole Haan Womens W02591 Closed Toe Loafers, Caviar, Size 6.0 , Rocky Women's RKS0297 Oxford Brown Size 9.5 , Cape Clogs Torpatofflen Women's Solids Adjustable Solid White Size 41 M , gaimo Shoes 726273 Black 35 , EMILIE BROWN LMSP70 Women's Shoes Size 7.5 Eur 5 Leather Slip On MephistoFRYE NEW $225 DYLAN ASH SLIP ON SNEAKERS FLAT US 9 9M , AX647 EDDY DANIELE shoes gray black leather moccasinsCole Haan Womens Jagger Weave Oxford Closed Toe Oxfords, Black/Sequia, Size 6.0 , CLARKS Women's Tamitha Daisy Oxford Olive Size 6.5Ferragamo burgundy low heel Vara shoes ribbon trim logo buckle 7AAGivenchy Brown Black Leather Color Blocked Pointed Toe Flats Size 38 8 , BZ531 2 STAR shoes green textile suede women slip on EUELLA MOSS LANIE Multi-Colored Suede Designer Flats Comfort 8.0 M
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 Vintage White / Cream / Ivory Fur Tecnica Boots 42 117 USED ItalyNew Womens Winter Warm Thermal Snow Boots Fleece Shoes Waterproof Ankle Boots , Cole Haan Womens Ankle Boots Brown Nubuck Leather Zip Front Casual Size 6.5 MWhite Mountain Lacona Tall Boots Size 5 E4 46 NewSteve Madden Women's 16" Rikki Riding Boot Black *Mismate* Left 8.5M / Right 8M , LAMO Navy Blue Suede Faux Fur Wrap Around Boots 5 NEWStylish Womens New Block heels Platform Pull on Stretch Ankle Boots Party US4-1180s Vintage Style Steve Madden Tan Cognac Leather Knee High Slouch Boots SZ 10Hush Puppies Size 9.5 M Rustique Black Leather Ankle Boots New Womens Shoes , Circus by Sam Edelman sz 8 Women's Kilbourn asphalt womens Fashion Boot NwbBoots Francesco Milano Nero Marron Brides cloutées 36JCrew $118 Gemma Cap-Toe Flats in Tweed Sz 8.5 Ivory Burgundy Navy F5518 AVLSam Edelman Womens Marion BootM- Pick SZ/Color. , EUC PAUL GREEN Women's Brown Leather Handmade Ankle Boot US Sz 5 , Munro Women's Napoli ‑ Black Leather - US 6.5 - MSRP $209.95 , Fly London Juno Women's Blue Suede Thick Platform Heel Tassel Loafers New , Sam Edelman Loraine Gold Bit Metallic Silver Leather Loafer Shoe 9.5 New , G Letters Jon Josef Linen Loafer Flat , Munro Josie Flat, Women's Size 5.5 M, BlackSTELLA MCCARTNEY ELYSE FLATFORM OXFORDS EU39 (US 9) Retails $1000VALENTINO GARAVANI $995 Black Lamb Leather Rockstud Spike Ballerinas , Rockport Women's Total Motion Trixie Perf Shootie Pump - Choose SZ/ColorNIB Bed Stu Women's Rose Leather Oxford Shoes in Teak Dip Dye Size 9.5 , ZIMMERMANN loafer slipper slide mule Leather Suede Black sz 39Ahnu Women's North Peak Event WATERPROOF Boots VIBRAM Gray Teal Size 7.5 , Saucony Women's Ride 7 GTX Running Shoe,Black/Purple/Citron,6 M US , Nike Women's Rift Wrap SE Shoes Black/Cool Grey/White 881192-001 Size 6 , ALDO Gray Leather Side Zip Block Heel Ankle Boots Women's Size 9Women's Western Ankle Boots Nine West Size 7.5MClarks Women's Ankle Boots Burgundy Faux Suede Size 6M
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
BX134 JEANNOT shoes bronze localjoes-25094 leather BX134 women JEANNOT moccasins 8056ccd Flats
Powered by VIP.