Top Consumer Stocks
Consumer stocks are lower shortly before the closing bell this
afternoon with shares of consumer staples companies in the S&P
500 sinking about 0.5%. Shares of consumer discretionary firms in
the S&P 500 are down 0.9%.
In company news, Time Warner Cable (
) is narrowly higher in late trade, with the cable television
provider today announcing a long-term deal to continue distributing
Discovery Communications (
) channels such as the Discovery Channel, Animal Planet, Oprah
Winfrey Network and Destination America.
The deal includes online streaming, the first time DISCA has
allowed subscribers to watch those channels from tablets, desktops,
or smartphones. Financial terms or other details of the contract
were not disclosed.
TWC shares last traded at $121.30 apiece, up 0.4%. DISCA was
slightly lower at $85.35 a share, down 0.1%.
In other sector news,
(+) TSN, Reports Q4 EPS of $0.70 on 7.0% year over year rise to
$8.89 bln in revenue. Analysts had been expecting the poultry firm
to earn $0.69 per share with a 6.1% rise in revenue to $8.89 bln.
Issues upside guidance for FY13. Raises dividend.
(-) SVU, Goldman Sachs downgrades the supermarket chain to Sell
from Neutral, citing likely cuts to the federal food stamp program
and encroaching competition.
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