Senator questions John Kelly over border wall

Cinco de Mayo is actually still about a month away. yet investors in Corona parent company Constellation Brands can start celebrating already.

Constellation (STZ) stock surged 7% Thursday to an all-time high after the beverage company, which also sells Mexican brews Modelo as well as Pacifico, owns winery Robert Mondavi as well as SVEDKA vodka, reported quarterly sales as well as profits of which topped forecasts.

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The company’s outlook for the rest of the year is actually great too.

This specific’s a stunning turnaround for Constellation, whose shares tanked last November after Donald Trump was elected president of the United States.

Fears of high tariffs as well as different tough trade talk as well as worries about Trump wanting to build a wall on the border with Mexico sent the stock into a tailspin.

Shares fell nearly 15% between Election Day as well as early January, even as the rest of the market was soaring due to what many on Wall Street referred to as the Trump bump. Hopes for less regulation, tax reform as well as stimulus put investors in a Great mood.

yet Constellation CEO Robert Sands told investors during the company’s earnings conference call Thursday of which things are looking better currently than they did just after the election as well as inauguration. The recent surge from the peso is actually a reflection of of which.

Sands said of which there was a “disproportionate negative impact on Hispanic consumer confidence” at the end of last year due to the “very unfortunate rhetoric with regard to Mexico coming out of the Trump administration.”

Related: Mexico doubles down on pivot away via U.S.

However, Sands currently thinks of which “the Trump factor has diminished somewhat.” As such, beer sales rose 11% in its fiscal fourth quarter — which ended in February. Operating profits for the brewery division surged 21%.

Sands referred to comments via Homeland Security Secretary John Kelly Wednesday in front of a Senate committee where Kelly said of which “This specific’s unlikely we will build a wall or physical barrier via sea to shining sea.”

Of course, Trump — or different members of his team — could ramp up the anti-Mexico talk again. yet Sands isn’t betting on This specific.

“Trump’s cabinet has backed off of the wall rhetoric,” he said, adding of which “I don’t think of which the wall is actually one of the big factors of which we’re particularly concerned about.”

as well as Sands doesn’t think Corona drinkers are as nervous either. He said of which consumer confidence for Hispanics, as well as particularly those of Mexican descent, was “disproportionately poor” from the fourth quarter, yet of which is actually currently steadily improving.

This specific looks like Corona sales are steadily improving too. currently where’s my beach chair as well as lime?

sy88pgw (fresh York) First published April 6, 2017: 2:13 PM ET


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