Consumer Stocks Mixed; Little Call for Phillip Morris After 12% Decline in Q1 Profit, Revenue Also Falls

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Consumer stocks were narrowly mixed this afternoon, with shares of consumer staples companies in the S&P 500 sliding 0.1% while shares of consumer discretionary firms in the S&P 500 were up about 0.3%.

In company news, Phillip Morris International ( PM ) shares were snuffed out Thursday, with shares of the cigarette-maker declining more than 2% after the company reported Q1 net income and revenue trailing Wall Street expectations.

PM earned $1.88 billion during the three months ended March 31, or $1.18 per share, down nearly 12% from $2.13 billion in net income during the same quarter last year.

Excluding one-time items, the company recorded Q1 EPS of $1.19, topping the FactSet consensus by $0.03 per share. Revenue, excluding excise taxes, fell nearly 9% year over year to $6.9 billion, trailing the Street view by around $110 million.

PM shares were down 2.3% at $82.81 each in recent trade, climbing back from an early slide as low as $82.12 a share, down 3.1%. The stock has a 52-week range of $75.28 to $96.73 a share, declining 8.2% over the past year through Wednesday's close.

In other sector news,

(+) APP, (+0.7%) Receives letter from New York Stock Exchange accepting the company's plan to regain compliance with NYSE listing criteria over unspecified financial impairments.

(+) NKE, (+1.2%) Extends partnership with USA Track & Field by 23 years through 2040 as well as significantly increasing support of USATF programs, athletes and competitive groups. NKE and the sports governing body have been partners since 1991.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: PM

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