The Buzz
All markets and investing news all the time

Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d

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
UPC: 0737434308364
Style: Causal Brand: Nine West
US Shoe Size (Women's): Multiple Variations Model: Clowd Metallic
Size Type: Regular MPN: Clowd Metallic

Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d
Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d -

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%.

Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d -
About This Author
Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d -
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
Tommy Hilfiger TWPEARLA2 Womens Pearla2 Ballet Flat- Choose SZ/Color.Very Volatile Womens Devs Ballet Flat- Pick SZ/Color. , Sanuk Womens Donna Chill Slipper- Pick SZ/Color. , Anne Klein "Una" Sport Ballet Flats Yellow M- Pick SZ/Color. , Sanuk Pick Pocket Tee Womens Flat- Choose SZ/Color.Dansko Womens Belle Canvas Fashion Sneaker /-- Pick SZ/Color. , Clarks 26125289 Womens Gracelin Gemma Flat- Choose SZ/Color. , Bandolino Womens Liberty Leather LoaferM- Pick SZ/Color.Aerosoles Womens Fun House Slip-on Loafer- Pick SZ/Color. , Bandolino Womens Annabella Ballet Flat- Pick SZ/Color.Bandolino 25024833 Womens Annabella Ballet Flat- Choose SZ/Color.Eastland Womens Sunset MLB Blue Jays Boat Shoe- Pick SZ/Color.Calvin Klein Womens Elin Patent Loafer Flat- Pick SZ/Color. , Jack Rogers Womens Penny Loafer- Pick SZ/Color. , CLARKS 60499 Womens Padmora Oxford- Choose SZ/Color. , Jack Rogers Womens Taylor Suede Slip-on Loafer- Pick SZ/Color. , Rockport V82773 Womens Total Motion Adelyn Ghillie Ballet Flat , A2 by Aerosoles Womens Personality Loafer- Pick SZ/Color.Eastland Womens Paige Mule- Pick SZ/Color.Sam Edelman F2158F3 Womens Danica Mule- Choose SZ/Color. , Skechers Womens Bikers-Ripples Mary Jane Flat- Pick SZ/Color.Geox Womens Challenge3 Ballerina Flat- Pick SZ/Color.Skechers 48885 Womens Cleo Bewitch Ballet Flat- Choose SZ/Color.Roxy RORY SHOE Womens Rory Shoe Flat- Choose SZ/Color. , BZees Women's Candy Mary Jane Flat Black 8 M USHaflinger Womens Cr Future Flat /- Pick SZ/Color. , Skechers Womens Bikers-Knit Happens Sneaker- Pick SZ/Color.Skechers 49343 Womens Bikers-Ripples Mary Jane Flat- Choose SZ/Color. , Eastland Womens Roxanne Penny Loafer- Pick SZ/Color.
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 Dark Brown Cable Knit LL BEAN Tall Boots w/Faur Fur Trim Worn Once US 7 , Mix No6 Black "HOPE" Knee High Boots 6M New With Box! , NEW DURANGO WOMEN'S CHEYENNE SANDAL (DCRD166) TAN BROWN 8 MEDIUM $60 NIB , Handsome JUSTIN L 3055 Red Roper Rancher WomensWestern Boots 6B , Womens 8 M Clarks Artisan Mansi Boots Juniper Gray Leather Motorcycle Combat ZipAnne Michelle Black Suede Knee high Boots Corset Military Women's Shoes , Vintage 80's Brown Leather Ankle Boots/Size 6.5/Laura Scott/Pixie Boots , Fitflop LTD B71-001 FitFlop Womens Loaff Quilted Slipper- Choose SZ/Color. , $295+NWB 10 Crosby Derek Lam Amaris Leather Flats Olive-green sz 10 pointy toeDIANA FERRARI SAMWELL in Sage, Tan , Seychelles STRAY Womens Stray Boat Shoe- Choose SZ/Color. , New! Tory Burch Reva Matte Black Flats 6.5 , Retro ETIENNE AIGNER Tobacco Brown/White Calfskin Loafers 8.5BBos. & Co. Women's Forma Slip-on Loafer, Black/Silver Mamba Metallic Print, 41 ENew J. Crew Gemma cap-toe flats in metallic leather F5516 $108 gold & cream 6.5V Italia 1072 Alps Women's Shearling Boots Dark Brown 41 M EU , Jimmy Choo Women's "Dreya" Denim&Leather Loafers Moccasins Shoes US 10 IT 40 , PROENZA SCHOULER Grey Felted Obi Knot Loafer 36 , NWOB$1495 Brunello Cucinelli VWool Knit Sequin Monili Bead Slip-Ons 40/10US A181 , Boden Womens Shoes Black Pointed Toe Pebbled Leather Flats 42 US 10.5 , Tory Burch Laser Cut t Slip On Flats Size 7MMunro New Olympia Black Womens Shoes Size 7 M Flats MSRP $215Cole Haan Womens D44173 Canvas Closed Toe Boat Shoes[ASICS] DynaFlyte W Black Pink Women's Running Shoes US 5.5 - 8.5 , Brooks Ghost 8 GTX Gore-Tex Storm Green Grey Women Running Shoes 120192 1BNike Metcon 4 Cross Training Shoe - Women's Size 9 LilacWomen's Very Volatile Women's Yokel Boot Boots , Spring Step Women's Laverra Slingback Pewter Leather Slingbacks , Dansko Womens Vinnie Flat- Select SZ/Color. , PUMA 19050402 Womens Ignite Limitless Weave Wn Sneaker- Choose SZ/Color. ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Nine West Clowd Womens Metallic Womens Moccasin- Choose localjoes-14011 SZ Moccasin-/Color. d24ba3d Flats
Powered by VIP.