The Buzz
All markets and investing news all the time

Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8

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: Unbranded
US Shoe Size (Women's): US 6.5 Style: Booties

Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8
Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8 -

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%.

Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8 -
About This Author
Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8 -
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
Black 2.5" Block Heel Faux Leather Buckles Sexy Ankle Boot Size 8.5 , Parisian Platinum Natural Leather Calf Heel Boots Sz 9.5 StellaDark Brown Round Toe Comfortable Winter Sexy Mid-Calf Boots Size 8 , $289 STEVEN BY STEVE MADDEN BLACK Metallic DISTRESSED LEATHER TALL RIDING BOOTSSeven Dials Oriole Women Shoes Cold Weather Booties Gray Sz 5.5 New Freeship , SoftWalk Women's Urban Ankle Bootie, Black, 5 M US , Womens Black Stars 5" High Wedge 1.5" Platform Sexy Ankle Boots Size 8.5Roper Women's Cheeta Work Boot, Tan, 7.5 D USBlack Faux Fur Interior Zip Open Faux Leather Womens Over the Knee Boots ShoesWomen's Penny Kenny Black Dancer Suede Boots US 10 Sz Very Clean Excelent!Bare Traps Womens lainey Suede Almond Toe Ankle Cold Weather Black Size 8.0 t3 , White Mountain Womens lida Closed Toe Knee High Fashion Boots Black Size 9.0 1Dirty Laundry Chinese Laundry Women's Chrystal Boot Dark Grey Size 9.0 HUevThalia Sodi Eeva Women US 8.5 Black Gladiator SandalReport Womens RUSSI Fabric Closed Toe Ankle Platform Boots, Taupe, Size 5.5 , botte marron nouvelle collection femme style motard 37 , Minnetonka Three Layered Fringe Boots Sz 8MBare Traps Womens callipso Almond Toe Knee High Fashion dark brown Size 8.0 n8 , Vasque St Elias GTX Bungee Cord/Silver Cloud Hiking Women's Boot 6.5M , Nine West Gabble Boots tan 8.5M , Seven Dials Oriole Women US 8.5 M Black Fabric Winter BootMaterial Girl Women's Melation Boot (6, Black)Dr. Scholl's Womens charlie Almond Toe Ankle Fashion Boots Black Size 6.0 af21 , Kelsi Dagger Tempest Brown Black Leather Printed Calf Hair Ankle Boots, 7.5Bogs Women's Linen Print Dark Grey Rain Boot 7MWomen's Inc Black Faux Leather Knee High Fashion Boots Size 5.5 $179 , White Mountain Lefty Womens Size 6 Brown Faux Suede Fashion Knee-High BootsCall It Spring Women's Lovelarwen Ankle Bootie, Taupe, 9 B US , Jessica Simpson Womens JS-WOVELLA Fabric Almond Toe Black Velvet Size 8.5 Lqmi
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 Western Chief Womens One Eye Duck Shoes Navy Blue Size 7Coco L8602 Ladies Brown Ankle Boots SALE , Women's Rocket Dog Soundoff Brown Pull-on Ankle Boots Size 8.5 M , INDIGO BY CLARKS Brown Leather Comfort / Ankle Boots Women's Size 7.5 , MARKON Size 6-6.5 Pleated Black Leather High-Heel Side-Zip Low Calf Fashion Boot , legdnd-26 Fashion Over Knee Casual Party Bluckle Zipper Women Boots Tan 7-DURANGO Brown Cognac Leather Cowboy Western Boots Womens Size 6.5 M Style RD552 , Dark Brown Round Toe Sexy Ankle Boot Side Buckle Us Womens Size 8.5 , Clarks Purple Suede Zip Ankle Angie Madi Bendables Winter Boots Style 35612 10 , SAM EDELMAN Womens 8M TAN SUEDE KNEE-HIGH BOOTS WITH FABULOUS FRINGE, FLATS,LOFT Ann Taylor Brown Leather Riding Boots Perry D Size 6.5 , Womens Shoes Synthetic Leather High Heels Buckled Zip Ankle Boots US Size b262NIB Black Leather Fringe Bootie By ALDO, Size 10Ariat Women's Sadler Riding Boots - Women's size 8 - Black (Damage)Skechers Women's KNITTY Gritty - Knit Bungee Version of The Easy Going - Repu...$119 NIB Ann Taylor Textured Exotic Leather Ballet Flats Yellow Size 8 , VTG OLATHE USA MADE RED/BLACK WESTERN COWBOY BOOTS 6 B MINT! , Jeffrey Campbell 'Siren-Mid’ Bootie SZ 7.5M White Patent LeatherJessica Simpson Women's Madian Suede Low Top Flat Shoe , GENTLE SOULS Womens Black & White Striped Leather Sz 7 M Loafers NEW! 204308 , Manolo Blahnik Flats Black Ruched Suede Size 38 Pointed Toe , Saucony Women's Vendetta 2 Track and Field Shoe, , Jellypop Women's Inspired Sneaker, Black, 8 Medium US , Rare Unicorn Multi-Colored Custom Hand-Made in Turkey Sneakers Unisex US-9/UK-7 , Nike Speedlax 5 Lacrosse Turf Cleats Women's SZ 6.5 807157-100Women's N21 Embellished Satin Knot Sandal Flats , Women's Donald Pliner Suzy Leather Loafer Flats , Women's Aureus Women's Eden Sneaker FlatsNew Softwalk Womens Rancho RedDistress Ankle Boots Size 6.5 (A, N)Classic Perforated Suede Ankle Boots Almond Toe Stacked Heel Clay All Size
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Hot Sale Russian Shoes Black Heels Russian Platform Black Boots Women Zipper Autumn High Heels 192ecf8 Boots
Powered by VIP.