The Buzz
All markets and investing news all the time

New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c

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: New Balance
Features: 6 mm drop: due to variances created during the MPN: WFLCLWG
Style: Low Top Color: White with Grey
gender: Female

New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c
New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c -

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 Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c -
About This Author
New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c -
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
NIKE WOMEN’S DUNK SKY HI ESSENTIAL WEDGE HEEL BLACK GUM 644877 011 sz 10.5 , Nike Air Max 2017 Women Bright Grape Fire Pink US 6NIKE WOMENS DUNK SKY HI ESSENTIAL 644877-011 BLACK/GUM SIZE 10.5 WEDGE **NEW** , Women Nike Air More Money LX AJ1312-100 Size 8 Los Angeles All Star LA , Brooks Glycerin 15 Desiree Linden Neutral Cushion Blue Women Running 120247 1B , Nike Metcon 3 AMP Training Running CrossFit Shoes Women's 11 White Metallic Gold , ASH Bowie Sneaker, Women's Size 38 (US 8), Black , Nike Air Huarache City Size 7.5 Womens Wolf Grey Fierce Purple AH6787 004AUTHENTIC NIKE Air Force 1 '07 Premium Bio Beige Metallic Silver Wht Women size , Asics Women's Gel Kayano24 Chuncheon Marathon Special Edition Running ShoesHoka X Engineered Garments Unisex Hupana 2 Blueprint / Black Size 9 W / 8 M US , Nike Air Max 90 Ultra Essential Womens Running Shoes Red Size 7PRADA SPORT Multi-Color Camo Nylon & Suede Trim Slip-On Sneakers 40Nike Women's Air More Uptempo Dark Stucco White Black 917593 001 Size 7.5 , W Air Foamposite One ( AA3963-001) , Adidas Womens Arkyn Running Trainers Sneakers BB7585 ShoesNIKE FREE RN FLYKNIT GRAND PURPLE WHITE PLUM FOG 831070-503 WMN SZ 9 , NIB YRU Pink Lala Platform Sneakers Trainers Vegan Women’s size 7adidas Originals Deerupt W Runner White Lilac Women Running Shoes Sneaker B37601Women's Nike Air Force 1 '07 Casual Shoes White/Total Orange AH0287 101 , Asics GT-1000 6 [T7A9N-2001] Women Running Shoes Cosmo Pink/WhiteAdidas Originals Superstar W [BB2142] Women Casual Shoes White/Linen Green , NIKE WMNS AIR MAX 1 LUX "LONDON CLOTH CO." SZ:WMNS 6 RETAIL: $130.00Nike Wmns Air Max 90 EZ Black White Women Running Shoes Sneakers AO1520-003NEW Womens Nike Air Max 95 $145 Black Turquoise Blue 8 336620 012 1 98 90 97 0Nike Wmns AF1 Jester XX Air Force 1 University Red Women Casual Shoes AO1220-106 , Nike Air Max 270 Flyknit Women's Shoes AH6803-801 Guava Ice Brown/White Sneakers , Nike Free Rn Flyknit Hyper Violet/Black/Crimson/Orang (831070 501) Wmn Sz 8 , Nike WMNS Dunk Sky Hi VT QS Wedges Sz 8 Black Metallic Wool 611908-001 NEW
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 NORTHSIDE WOMEN'S SPINDRIFTER INSULATED SNOW WINTER BOOTS US 7 -40F/-40CZARA TRF Canvas Metal Chain Studs Sneakers Skate Rock Shoes size US 8Red Wing Worx Women's Shoes 7M Genuine Leather Upper-Black-Clog Style , NEW Womens Stylish Shoes Ankle Boots Flat Casual Strap Cute Round Toe ComfortEsprit Saylor Block-Heel Ankle Booties 398, Black, 9 USPenny Loves Kenny Womens Dallas Black Motorcycle Boots Shoes 7.5 BHFO 6101 , Lucky brand Gray Suede Ankle Boots Booties Size 6 , RB Boots Sabot Cuir Clouté Noir Revers Fourré T 35 TBE , Dunham Ankle Boots Demi Brown Leather Abzorb Pull On Chukkas 2J-7 Women's 6 EE , NEW EASY SPIRIT BLACK BROWN LEATHER WEDGE BOOTS SIZE 7.5 M SIZE 8.5 SIZE 10 $99 , Anne Klein Womens geonna Leather Pointed Toe Ankle Fashion, Beige, Size 10.0 KoT , East 5th Quann Womens Ankle Booties Heels Man Made Black Size 6.5W , PLEASER DELIGHT-1022 Exotic Dancing Platform Open Toe Ankle BootsWomen's Skechers BOOTS size 10 brown paisley cordory fabric shoes , north face nuptse bootie III fur 700g. Size 7 , Antonio Melani Glove Fit Women's Brown Leather Western Ankle Boot Side Zip 6 Mrepetto Shoes 680326 Multicolor 37Spring Step Coed Womens Slip-On Shoes Brown Size 41 (US:9.5-10) , JCrew Gemma Cap Toe Flats metallic leather ballet shoes f5516 $108 9.5 SOLD OUT!Tod's Double T Gommino Suede Driving Shoe , Tod's Navy Brushed Leather Double T Slip On Loafers Size UK9/US10~RTL $895ARA WOMEN'S KELLY DRESSY LEATHER PUMP SLIP-ON SHOE STYLE , PUMA Women's Carson Cross Hatch WN's Trainer Shoe - Choose SZ/Color , Women's hiking and trekking shoes SALOMON Kinchega 2 Outdoor Sneakers , New Balance Womens Vazeeprismrunshoe-W Pink/Blue Running Shoes Size 7.5 (C,D,W) , Nike size 7.5M Free RN Flyknit purple womens ladies running tennis shoes , Women's Paul Green Womens Sassy Flat FlatsWomen's bottines femme noir cloutés justfab Boots , New Women Fashion Chunky Stacked High Heel Bootie Ankle Straps Cut Out BootsSteve Madden Combat Boots Mid-Calf Brown Leather Women Sz 6 ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
New Balance Women's FuelCell New Balance Shoes 27143 White with Grey 4d5f65c Athletic Shoes
Powered by VIP.