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

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Top Consumer Stocks

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MCD +0.7%

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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 The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: CONN

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