The Buzz
All markets and investing news all the time

Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd

Item specifics

New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Brand: Mephisto
Style: Loafers US Shoe Size (Women's): 8
Width: Medium (B, M) Material: Patent Leather
UPC: Does not apply

Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd
Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd -

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%.

Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd -
About This Author
Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd -
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
TORY BURCH WOMENS STRIPED NEON SLIP ON ESPADRILLE BEACH SHOES FLATS PINK RED 9 , Vionic- Lux Camden Wedge Flats, Women's Size 8, Tan , Merrell Ceylon Sport Ballet Womens Color: Black Size: 7.5M Item #: J55066 RETURN , WOMEN'S CROCS CAP TOE FLATS SMOKE/OLIVE SIZE 5 NWTFitflop Beau Buckle Loafer- Women's Size 10, Black , Dolce Vita Womens Ballet Flats Size 8 Black Leather D Orsay Pointed ToeKennel Schmenger Size 8 Womens 39 Euro White Big Bow Sneakers Slip OnsTods Dee Beige Leather Bow Ballet Flats Women’s Size 34.5 M* , **Sofft Selima II Perforated Suede Ballet Flats, Women's - Size 10 M, NavyTory Burch Carlyle Metalllic Gold Silver Woven Ballet Flats Size 6.5MDansko Audrey Metallic Leather Mary Janes, Women's Size 7.5-8, Gold NEWTory Burch York Ballet Flats Jockey Orange Size 9 , Tory Burch Minnie Travel Gold Logo Ballet Flats 6 , Halston Leather Slip-on Flats with Hidden Wedge - Stephanie 6 medium grey , ara Kay Loafers, Women's Size 8.5 (US 11). NavySperry Top-Sider Angelfish Linen Boat Shoes STS90920 NIB Sz 7.5 M**Keen Rivington II Criss Cross Flats - Women's Size 9 - Black , NEW Jon Josef Black Ballet Flats Pumps Sz 9 Leather Block Heel SpainNew Women's Clarks CLOUDSTEPPERS Sillian Paz Dark Brown Marron Fonce Size 8.5Sofft Womens Sneak Animal Print Ballet Flats Size 6M Preowned , Lacoste Lanas W AP SRW * Women's shoes 6.5 * NEW *BELGIAN SHOES MIDINETTE PURPLE WITH PINK TRIM 5121M 8 1/2M BELGIUM , Sperry Top Sider Coil Ivy Scale Grape- Maroon Boat Shoe Brand New Sz. 9Brisk L'Artiste Collection By Spring Step Women's Sandals Green US 8.5**Trotters Women's Estee Flats, Black Snake - Size 8.5WTaryn Rose patent leather sandal Size 7.5 , Romika US 7 to 7.5 Black Slip On Loafers Women's , J Crew Women 9 Brown Leather Wing Tip Oxfords Cap Toe Brogue Shoes A5094 ItalyZARA Burgundy Flat Shoes with Gem Buckle size US 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 size 5.5 G By Guess Hailee Black Wide Calf Knee High Riding Boots Womens ShoesGC Shoes Women's Under Cover Heel Bootie (1036) Black Size 8 , NWT Mossimo Women's Genuine Suede Khadeja Desert Booties Shoes Size 10Dolce Vita ~ DV ~ Wo's Size 9 Black Soft Leather Booties Pull On Boots ~ GREAT , Black 3.5" High Heel Round Toe Top Silver Studs Sexy Knee Boot Size 5.5New - Women's Easy Street Burke Knee High Brown/Brown Boots Size 9.5 Narrow , XOXO Women's Yarissa Boot Black Size 6.5Catherine Malandrino Pearlen Booties Size 8 Ankle Boots Black Pearl Heel Pull On , Abound Olivia Bootie Gray Suede with zippers sz 8MWOMENS ARIAT 14712 FATBABY BLK GATOR PRINT COWBOY WESTERN BOOTS SZ 8.5~1/2 BJellypop Madison Faux Leather Ankle Booties, Women's Size 8 M, Toffee NEWRockport Cobb Hill Collection Lena Leather Ankle Boots, Women's Size 7.5 N BlackNine West Getta Stiletto Pointy Toe Boots Sz 9.5 , Clarks "Wintry Hi" Cold Weather BootsJessica Simpson Wexton Leopard Cheetah Studded Block Heel Ankle Booties BootsPreowned Nine West Heartset Tall Brown Suede Wedge Boots Zip sz 6.5MWolverine Women's Pearl Leather Suede Ankle Boot Casual Brown Size US 6Waldlaufer Orla Hurly Black Sneaker Shoes Size 8.5Marni Denim Jon Josef Slingback FlatLADIES SHOES/FOOTWEAR - Kiarflex Kier shoe black , Donna Karan DKNY Women's Stunning Logo White Fashion Ballet Flats Shoes Sz. 6NIB Sofft Women's Somers Slip On Leather Fashion Sneakers in Light Gray/SilverNike Force Girls Size 7Y Shoes Hi Mid Top Pink/Black 616371-012Vince Black Suede Warren Slip On Fashion Sneakers Womens Size US 8.5M , Rieker Slippers Sneakers Low Shoes Trainers Ballerina White L3263 NEWNike Flex Run 2017 Women's Running Shoes - Size 6.5 - Polarized Blue, EUC , Women's Qupid Women's Rhythm-15 Ankle Boot Boots , ALDO ‘Kelii’ Beige Leather Side Zip Ankle Boots Women's Size 7.5 , SUMMER RIO Stiletto Boots Womens 7.5 Black Embroidered Dragon Phoenix Zipper , DANSKO Women's SZ 37/ 6.5-7 Clogs Black Tooled Floral Embossed Leather Nursing
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Mephisto Shoes New $284 Loafers Patent Leather Tassel Loafers Size Shoes Womens Size 8 M 517f9fd Flats
Powered by VIP.