Paul LaMonica (CNNMoney, STZ)

00:05:30

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Well Monica from CNN money now joins us here to talk about. A Stockton finished off the week. Paul thank you for joining us. Thank you very much yet we're doing well both talk a little bit about Constellation Brands here can you talk a little bit about what you're seeing from them. Yeah out as the company that is near an all time they reported really solid earnings yesterday is the company that. Most people know it being the guy US distributor of little beer call Cologne and a itself. A good story because a lot of people thought shortly after the election before the inauguration the constellation would be in trouble because of its ties to Mexico at all. Tough rhetoric from president trump about building a wall and deal higher tariffs but. This is you know good story because. No consolation to continue to do extremely well and be yourself have held up and they haven't been hurt at all even though we've done Tina. You know the peso weakening also which which might actually be good for. Talk a little bit about beer sales back in 2015. They spend a billion dollars buying a beer by the name of ballast point that I don't know a ton of people knew at that point. How much is that great into their ability to continue to grow beer sales. Yet that has been something that has helped that because they like a lot of other big beer companies who doesn't Leah. Well probably an impression that they have you lead discovered that you know owning crappy year my clippers that we need to really increase grow and people. Are obviously still drinking a beer like but by history course but. A lot of people also want these here craft Beers in public key username Jim actually is. Consolation just bought another company called funky Buddha and you know these people are expecting more growth ahead as a result because of the you know we've looked like reversing craft Beers that that constellation now you know trying to capture. Constellation also has a significant operations on. The spirit side so for me no liquor what what are we seeing on that side of things are they growing at the same greater is that something that is in knowing that. Yet active area that hasn't gone as well the Mondavi winery the inspector vodka a couple other. Spirit the spirit as well they haven't done as well they're peers really driving the story right but I think. You know investors are hopeful that that nobody will turn things around the spirit well because that's another area of growth that. You a lot of the companies that did not do well India Asia all. What's the what's the outlook for them is there anything that could potentially. Yeah I think you know if you do you actually have do any consumers nationally a backlash either to something and it is quote unquote foreign like. Koran in the don't see that the part that's got to be something that people will be. You worried about potentially in you know just in general you know would be yeah. The growth in my clippers there's been so many acquisitions and so many New Year's coming out you have to wonder whether or not there's. A obelisk Q well I'd get a little too frothy and not just like about it. They stopped at the top of the beer. Outstanding Paul thank you for the title catch the next week. Are you want you to call Monica from CNN money talked about Constellation Brands that ticker on them by the way is STZ. To good question. Is craft beer they fat. Totally it's a fan all I think it's what do you mean by fat yeah well here's it's it's gonna fade out users pet rocks were that. Yet this is no bottom jeans were that. This is not a fad but that doesn't mean that there hasn't been over to bell and I think that the craft beer scene is going to continue to be something. That sticks around because it puts at a higher quality product than what you get from what happens when the economy takes the tank worry that. How much more is a craft Beers then Jason but two's three times. Yet that he'd you'll see it. But I tell unusable man that to me it's a bad. Sales of Mercedes go down when the economy tanks but that doesn't mean Mercedes is due on is still around after this just it's a different person buying. Who who is the list. Young's my dad is your dad buys via. I got news appears stopped at trillium rating Canon picked a couple for ya mean I thought it was just young men and others there's Morency young man. There's in his seventies easel and young man there's batteries around here world you know petroleum chuck mentions an industry desperate in Charlton day got we're regional lining up an hour and a half and mine I have ever skied night every day doing a bunch of stuff I mean see when I go out with friends they drink very. Standard Beers in bite my wife likes beer I I don't drink so I'm not a problem it's all I knows it. I don't see it tremendously among these older generation. As I do among the younger that my kids straight lines practiced remember Sam Adams was a craft beer yeah a lot of people in the fifties after Sam Adams and that's thirty years ago. You've been listening to the financial exchange with very chuck all week well. Thanks to tune in.
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