The Buzz
All markets and investing news all the time

Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22

Item specifics

Pre-owned: An item that has been used or worn previously. See the seller’s listing for full details and ... Read moreabout the condition
Brand: adidas
Style: Tennis Shoes Product Line: adidas Superstar
Color: White US Shoe Size (Women's): US 8.5

Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22
Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22 -

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%.

Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22 -
About This Author
Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22 -
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
Q44 NEW Rag & Bone RB1 Black Velvet Sneakers Women's Size 37.5 MDimmi Push White Black Teal Wild Canvas Slip On Casual Loafers Flats Shoes 6Saucony Echelon 6 Women's Running Shoe SZ 8Soft Style by Hush Puppies Women's Fairfax Flat, Olive Night Faux Tweed, 6 3E USCrocks Woman’s Black Wedge Slip On Shoes 10 ~Adorable~AIRWALK WOMEN'S CANVAS LOWTOP SKATER PUNK SNEAKERS ~ SIZE 9M~ GRAFFITI , Clarks size 8.5M Bendables womens ladies black suede ankle booties boots 60597W49 NEW Paul Green Orleans Rose Suede/Leather Sneakers Women's Sz 7.5 US , Mercer Edit Cha Ching Sneakers Womens 9.5 White Leather Hook & Loop ClosuresWomen Canvas Shoes SPORT Casual Athletic Low Top ALL STAR Camouflage ClassicSaucony Cohesion 7 Women's Tennis Shoes Athletic Running Size 6 Yellow PinkTHE NORTH FACE Ortholite GRAY Suede SNEAKER Walking HIKING Sport OXFORD Women 10 , I35 Sammee2 Slip-on Flat Sneakers 914, Black, 6 USB35 Hint Slip-On Sneakers 969, White, 6 US , Converse Polka Dot Canvas Shoe White Pink Gray Womens 7 , SKECHERS 11800 SHAPE UPS Women Size 6 Tan White Rocker Toning Sneaker ShoeADIDAS NEO Womens CLOUDFOAM LITE RACER Slip on Black Shoes AW4083 Sz 8.5 NewDakota Quad Comfort J-Step ATCP Anti-Slip Oxford Women's Black Shoes 7M , Merrell J35516 Siren Edge Hiking Shoes SZ 9 , Merrell Escape Air Cusion Sneaker Gray Purple Athletic Shoe Womens 5.5Womens Fashion Running Sneakers Casual Athletic Breathable Walk Sports Shoes New , New hot occdient womens mens Trainer Atheletic Sneaker Unisex US8=EUR39 blackSkechers Fitness Athletic Walking Running Sneaker Shoes Women's Size 8.5 , Sperry Top-Sider Cameron Navy CVO LL Women's Shoe 11M , Women's ASICS GEL GT-1170 Training Workout Shoes Sneaker US7 EUR38 , Adidas adiPrene shoes women's size 10 Gray Mesh with Purple and Blue , Women's Nike Revolution 2 Trainer Shoes/Sneakers Size US10 UK7.5 EUR42 , Womens Fashion Running Sneakers Casual Athletic Breathable Sports Shoes lotWomen's Running Shoes Trainers Casual Breathable Sports Sneakers Tennis Outdoor ,
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 NEW Womens RAMPAGE MAIDEN BLACK ANKLE HEEL Boots SZ 8 , Jean-Michel Cazabat Purple Black Suede Wedge Heel Ankle Booties Size 6.5 In BoxWomen's ALDO Brown Leather Fleece Lined Ankle Boots Size 39EU/8 1/2 US High HeelGoGo Boots patent mens womens Kinky Mid high heel Wet Look large size SSS Winter , Just Fab Black Combat Boots Size 9 Never Worn With Box NEWSam Edelman Louie Ankle Boots 9.5 M Gray Suede FringeCLARKS Women's Fernwood Lake Dark Bwown , Bass Womens Billie Leather Gored Ankle Booties Griffin Grey Sizes 6 6.5 8 9 10 MFranco Sarto Womens Owens Leather Closed Toe Ankle Fashion BootsBCBGeneration Fargo Black Womens Shoes Size 10 B Boots MSRP $149Capezio Womens Cowboy Boots Size 6 Western Leather Tan Beige Taupe EmbroideredINC International Concepts Women's Henry Boots Nutmeg Suede Size 9.5 MWOMEN’S MINNETONKA OLYMPIA SHORT BOOT 80062 CHOCOLATE , New MAYIS Black and Gray Fashion Sneakers Crystal Studded Shoes US 7 NWOB , Women Round Toe Warm Fur Lining Suede Ankle Boots Wedge Heels Winter Shoes_ b99NWOB - ANTHROPOLOGIE - SEE BY CHLOE - Floral Slide Sandals - sz 36 (Brown) $288 , ISABEL MARANT LYA BLACK FLAT SIZE 37AGL Atillio Giusti Leombruni Black & Pewter Leather Open Toe Low Wedges 36 Italy , Vince 'Nelson' Slip-On Sneaker - Gray Denim - 11 M , Femal Thick Bottom Sports Shoes Girls Athletic Suede Flat Trainers Walking Shoes , AVIA Lightweight White Leather Mesh Walking Athletic Sneaker Shoes Women's 7.5MADIDAS WOMEN'S CF LITE RACER ATHLETIC CASUAL SHOES,AC8475,NAVY/WHITE,MEDIUMBernie Mev Ofelia Women's Slip OnREEBOK Pink ZIGTECH LEATHER MESH WOMENS ATHLETIC RUNNING TENNIS SHOES SIZE 6 , New Balance 608v4 Womens Size US 10 D White Pink Training Walking ShoesNIKE Free Bionic Purple Frost Volt Training Sneakers Shoes Women's Size 6.5 , Women's Lanvin Embellished Suede Ballet Flat FlatsDavid Tate Texas Boots Black size 6.5 Wide calf Leather upper balance man madePUMA Women's Ignite Ultimate Layered Wn's Running Shoe - Choose SZ/Color , Nike Air Max Thea Prm Sz:9.5 Ds 616723-303 Dark Citron Women's Premium Desert Ca ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Womens Tennis localjoes-27799 Superstar Adidas White Size 8.5 Athletic Tennis 27799 Shoe cdc2b22 Athletic Shoes
Powered by VIP.