Top Consumer Stocks
Consumer stocks are solidly higher this afternoon, with shares
of consumer staples companies in the S&P 500 gaining 1.2% and
shares of consumer discretionary companies in the S&P 500
In company news, Rent-A-Center (
) is down 4.3% at $34.46 a share, sliding as low as $33.45 after
reporting Q3 earnings of $0.51 per share share, missing analyst
expectations by $0.11. Revenue rose 2% year over year to $754.8
million, also falling short of estimates.
Looking forward, the equipment rental company cut its FY13 EPS
and revenue guidance. It now sees earnings in a range of $2.80 to
$2.85 per share, down from its previous forecast of $3.03 to $3.15
per share and lagging Wall Street expectations for a $3.09 per
share profit this year.
It also said it now expects sales at stores open at least one
year to fall 1.5%, down from its previous guidance looking for as
much as 1% growth.
In other sector news,
(+) WHR, (+10.2%) Q3 earnings of $2.72 per share, ex items,
beats by $0.07. Revenue climbs 4.2% year over year to $4.68 bln,
trailing consensus view by around $60 mln. Issues in-line Q4
(-) COH, (-7.6%) Q1 earnings of $0.77 per share tops
expectations by $0.01. Revenue slip 0.9% from year-ago levels to
below-consensus $1.15 bln.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.