Consumer Stocks Moving Higher; Penske Auto Races to 7% Gain After Outpacing Consensus Estimates

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Top Consumer Stocks

WMT +0.19%

MCD +0.53%

DIS +0.10%

CVS +0.32%

KO +0.18%

Consumer stocks were rising, with shares of consumer staples companies in the S&P 500 adding about 0.3% while shares of consumer discretionary firms in the S&P 500 were about 0.3% higher.

In company news, Penske Automotive Group ( PAG ) was more than 7% higher in recent trade after the auto-parts retailer this morning reported Q1 per-share earnings and revenue exceeding Wall Street expectations.

The company earned $0.73 per share during the three months ended March 31, $0.02 better than the Capital IQ consensus. Revenues rose 20.9% year over year to $4.05 bln, topping the Street view by around $340 million. Same-store retail revenue was up 14.9% over year-ago levels.

PAG shares were up 7.1% at $46.14 apiece near mid-day, earlier climbing to a session high of $46.84 a share. The stock has a 52-week range of $27.61 to $47.79 a share, advancing 59% over the past 12 months.

In other sector news,

(+) BODY, (+3.9%) Announces review of strategic alternatives, hiring Houlihan Lokey Capital as financial advisor or placement agent.

(-) ORLY, (-0.5%) Guides Q2 EPS at least $0.02 below consensus view while FY14 earnings forecast also trails estimates by at least $0.02 per share. Q1 net income of $1.61 per share beats by $0.03. Revenue grows 9% to $1.73 mln, matching Street.



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: PAG

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