The Buzz
All markets and investing news all the time

MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09

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
US Shoe Size (Women's): 7
Brand: Marc Jacobs Color: Silver
Style: Ballet Flats Material: Leather
Features: Studs UPC: Does not apply

MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09
MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09 -

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%.

MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09 -
About This Author
MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09 -
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
Thierry Rabotin Light Snake Skin Pattern Flats Size 7.5$298 AGL Grey Buckle Shimmer Moccasin Flats Sz EU37.5/US7.5 NEW IN BOX!Tory Burch Reva Patent Leather Ballet Flats Orange Size 7 1/2 , BADGLEY MISCHKA WENDY Embellished Ballet Flats Black Leather Crystals Sz 7.5 NEW , Miu Miu Pointed Black Beige Bicolor Ballet Flats Size 39 Scrunch Back Bow Detail , GIUSEPPE ZANOTTI TAZ VERNICE BLUSH THICK STRAPS STILETTO HEEL SHOES SANDALS~37NEW Women's AGL Welted Moc Loafer Soft Italian Leather Size 39 US 8.5-9 $249 , J SLIDES NYC BLACK ANTEEK STUDDED LEATHER SNEAKERS SIZE 9 - NEWAgl Attilio Giusti Leombruni Beige Patent Ankle Wrap Wedge Sandal Shoe 37.5 , Stuart Weitzman Mulearky Beige Womens Shoes 10 M Clogs & Slippers MSRP $398 , Donald J. Pliner Sport Women's NAVA Black Shimmering Leather Driving Shoe 6.5Mhot sale 2 Color Sz 5-10 Leather Fringe Tassel Loafer Dress Slip On Womens ShoesWomens MEPHISTO AIR JET stylish gray leather slingback flats sz. 9 MNew Alegria PG Lite Sz US 6.5 "Harper" Abalone Mary Jane Style Shoes C4 , Sam Edelman Size 8 NWB Retail $225 GreyNEW DANSKO WOMEN'S JANE FLAT BROWN LEATHER 38 7.5 MEDIUM $229Azura Women's Emeka Loafer Beige Leather Flats , Jimmy Choo Size 7 Sparkly And Suede Ballet Flats , Auth Dolce Gabbana ballets real Patent Leather size 36,5 us 6.5 Flowers , Wolky Women's Bronze Soft Metallic Leather Passion 37 M EU US 6-7 MSRP $169.99Tod's Tan Suede Loafer US 10MISSONI JELLY BALLET FLATS SHOES BNWT US 9 PERFECT GIFT BNWT , New Elyse Walker Womens Dee Suede Espadrille Blue Loafer Flats Size 8 38 $375 , Azura Women's Emeka Loafer Yellow Leather Flats , Earth Women's Violet Slip-On Black Soft Buck FlatsToni Pons Black Suede Wedge Sandals Espadrille Shoes Gold Ankle Strap 40 9 9.5 , NEW NOS DS Vtg 50s White Canvas HI TOP Canvas Basketball Shoes Women 8.5 USA , Womens Beverly Feldman Multicolor Casual Dress Closed Toe Shoes Size 9.5 Medium , Vivienne Westwood Floral Leather Flats Shoes UK6 /EU39, rrp450GBP ,
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 QUALITY SUEDE Fashion Sexy Tall Heel Boots Knee-cover Women Winter Shoes , Ozark Trail Women's Tall Winter Boots - Tan/Black - SZ 10 - Rated -5 degree -NewColin Stuart Brown Leather Faux Snakeskin Knee High Stiletto Boots Women's 11W , David Tate Women's Denver Black Patent Boot 5.5WW , Prialpas Gomma Black Leather 7 1/2 Calf BootsMichael Antonio Tan 5" High Heel Round Toe Sexy Knee Boots Size 5.5Women's Vintage Tall Beige TONY LAMA Cowboy Cowgirl Boots size 5 M Made in USA , JUSTFAB FAUX SUEDE OR FABRIC 4" STILETTO HEEL POINTED TOE BOOTIE INNER ZIP , Mossimo Supply Co Women's Ankle Boots Size 7 Heel Brown New All Season'sPlus Size Women Sexy Pointy Toe Diamante Block Heels Ankle Knight Boots 5 Color , NEW BETSEY JOHNSON Willow Black Leather Rhinestone Boots Sz 8.5 , Towne By London Fog Seymour Boots Women’s Sz. 7 Navy Blue NEW , Splendid Jessika Peep-Toe Booties 384, Dark Gray, 9.5 USWomen Gap Suade Fur Boots Wedge Sole Size 11 , Reba Size 6 M ZANIA Black Leather Ankle Boots New Womens ShoesTOD'S Size 7.5 Black Suede Patent Leather Cap Toe DEW FlatsJ.Crew Size 9.5 Academy Loafer In Leather Color Highland Mist/Grey NIB , Handmade genuine leather ballet flat shoes women female casual shoes women flats , Girls' Sweet Ballet Flats Slip On Suede Leather Loafers Casual Shoes Round Toe , Occident Women's Round Toe Leather Pearls Slip On Oxford Court SHoes Low Heel , Gianvito Rossi shoe Black suede Tie Strap Pointed Toe size 40 New , PRADA NAPPA SHINE LEATHER BOW BALLERINA FLATS SZ 36.5 , HELENE ARPELS (AS IN VAN CLEEF ARPELS) BROWN LEATHER GOLD ACCENT SHOES-SIZE-38.5 , $865 NEW OSCAR De La RENTA Beige Suede ELLERY Mules SANDALS Shoes 37 , New Balance 756 Womens Walking Shoes Comfort Size 8 B Worn Once EucSkechers Performance Womens Go Step Lite-Evoke Walking Shoe- Select SZ/Color. , Gentle Souls Tami Shoe - Women's Size 8.5 M, Walnut , RICK OWENS DRKSHDW New Woman Black Hi-Top Zip Sneakers Shoes Size 36 $623 , New Women's Skechers 14315 Go Step Untouched Slip Ons - Gray Size 6.5 (L13)FitFlop Women's Superloafer Medical Professional Shoe - Choose SZ/Color
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
MARC JACOBS Women's Cleo Studded 7 Cleo Ballet Women's Flats Size 7 Silver Leather Retail $250 4451a09 Flats
Powered by VIP.