Consumers Stocks Little Changed; Conn's Tumbles On Q2, FY13 Guidance; Cumulus Media Hits 52 Week Highs

By Staff,

Shutterstock photo

Top Consumer Stocks

WMT flat

MCD +0.7%

DIS +0.20%

CVS -0.3%

KO -1%

Consumer stocks are narrowly mixed today with shares of consumer staple companies in the S&P 500 falling about 0.1% while shares of consumer discretionary stocks in the S&P are up nearly 0.2%.

In company news, Conns Inc. ( CONN ) is down over 10% at near $61.20 a share, earlier tumbling as low as $59.10 after reporting weaker-than-expected Q2 earnings, hurt by trouble in the home-appliances and furniture retailer's credit segment.

CONN earned $0.52 per share during Q2, trailing the Capital IQ consensus by $0.08. The retailer's credit segment took a $21.3 million provision for bad debts during the three months ended July 31, up $9.3 million from year-ago levels as delinquency rates rose. Revenue rose 30.5% year over year to $270.7 million, beating estimates by $9.3 million.

CONN's FY13 guidance also disappointed, with the electronics seller reiterating EPS of $2.50 to $2.65 per share, falling at least a penny below Wall Street's expectations.

In other sector news,

(+) CMLS, (+2.1%, hits fresh 52 week highs) Moody's Investors Service concludes the broadcaster's $260-mln planned acquisition of Dial Global will not have an immediate impact on the its credit ratings.

(-) GEF, (-4.3%) Q3 earnings of $0.80 per share trail estimates by $0.09. Revenue climbs 2.4% year over year to $1.13 bln, missing the consensus view by just $10 mln. Reiterates expectations for FY13 EBITDA of $475 mln to $500 mln.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CONN

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by