Consumer Discretionary Stocks Leading Sector Lower; Tiffany Slides After Goldman Downgrade


Consumer stocks were mixed Monday, with shares of consumer staples companies in the S&P 500 about 0.1% and shares of consumer discretionary firms in the S&P 500 were down 1.4%.

In company news, shares of high-end jewelry retailer Tiffany & Co. ( TIF ) fell Monday after analysts at Goldman Sachs today removed the stock from its Conviction Buy list, saying sales and profit growth is playing out slower than expected.

Goldman also set a $100 price target for TIF shares.

The downgrade follows TIF on Friday announcing adjusted Q4 earnings of $190 million, or $1.47 per share, up from a $1.40 per share gain in the year-ago period but still trailing analyst projections for the three months ended Jan. 31 looking for adjusted net income of $1.52 per share.

Global net sales rose 5% year over year to $1.3 billion, roughly in-line with the Capital IQ consensus. Same-store sales climbed 6% over the same quarter last year. TIF also forecast FY14 earnings, if comparable, topping analyst projections by at least $0.26 per share, or nearly 7%.

TIF shares were down 3.9% at $87.18 a share in recent trading, earlier tumbling to an intra-day low of $86.76. The stock has a 52-week range of $67.80 to $90.06 a share.

In other sector news,

(+) NUS, (+18.6%) Chinese authorities conclude investigation into the company's selling practices, fining the direct seller $540,000. Six employees also fined $16,000 for unauthorized promotional activities.

(-) CTRP, (-2.8%) Shares of travel websites fall after CTrip said an internal probe uncovered 93 possible leaks of customer data accessed using an unaffiliated website. TripAdvisor ( TRIP ) slides 4.5%, ( PCLN ) declines 4.2% and Expedia ( EXPE ) dips 2.9%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: TIF , TRIP , PCLN , EXPE

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