Top Consumer Stocks
Consumer stocks are little changed this afternoon with shares of
consumer staple companies in the S&P 500 currently drifting
less than 0.1% lower while shares of consumer discretionary stocks
in the S&P are down 0.2%.
In company news, The Walt Disney Co (
) is up 3.3% in late trade at $66.05, climbing as high as $66.30
after Chief Financial Officer Jay Rasulo said the media
conglomerate will increase its stock buybacks in its upcoming
fiscal year by 50% or more.
DIS is planning to repurchase between $6 billion to $8 billion
of its shares during fiscal 2014 beginning next month, Rasulo said
at a Bank of America Merrill Lynch conference. That compares, he
said, with the company's recent trend of buying back around $4
billion of its shares annually.
In other sector news,
(+) SEAS, Sees FY13 adjusted EBITDA climbing to a record $430
mln to $440 mln; the Street is at $434 million. Said total revenue
through August is up 3% over year-ago levels while admission
revenue is 4% higher. Declares $0.20 per share dividend.
(-) LULU, Q2 earnings and revenue both top estimates but the
clothier still struggling with hangover from March recall of its
Luon yoga pants, trimming its FY13 EPS forecast by up to $0.04 to
$1.94 to $1.97 per share. It also cut revenue forecasts.
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