Consumer Stocks Mixed Late; CVS Overcomes Q2 Earnings Miss to Finish With Small Price Gain


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Consumer stocks were ending mixed today with shares of consumer staples companies in the S&P 500 down about 0.1%. Shares of consumer discretionary firms in the S&P 500 were ahead 0.3%.

In company news, CVS Caremark ( CVS ) was up almost 1% in late trade Friday despite the pharmacy retailer reporting fiscal Q2 earnings trailing Wall Street projections by $0.01 per share.

Net income for the three months ended March 31 at CVS were $1.02 per share, excluding non-recurring items and lagging analyst expectations looking for a $1.03 per share quarterly profit. Revenue grew 6.3% over the same quarter last year to $32.69 billion, roughly in-line with Street views.

The company blamed the shortfall with its adjusted EPS to a "significant" amount of unforeseen weather-related issues.

It also forecast per-share earnings for the current quarter matching the Capital IQ consensus expecting a Q2 profit of at least $1.08 per share.

Shares were up 0.9% at $73.74 each in late trade, or just 20 cent under its high-water mark for the day.

In other sector news,

(+) NTRI, Q1 EPS of $0.01 beats by $0.03 per share. Revenue rises 15.9% year over year to $122.2 mln and matching the Capital IQ consensus. Issues in-line guidance for Q2. Raises FY14 EPS, revenue forecasts, now matching Street views.

(-) NGVC, Reports Q2 net income of $0.18 per share, matching consensus estimates. Forecasts FY14 EPS of $0.58 to $0.63, in-line with the $0.63 per share Street view. Lowers expected same-store growth by 3% to a new range of 5.5% to 6.5%.

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

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This article appears in: Investing , Commodities

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