Top Consumer Stocks
Consumer stocks were mostly higher Tuesday with shares of
consumer staples companies in the S&P 500 rising just 0.1%
while shares of consumer discretionary firms in the S&P 500
were up nearly 1.2% in late trade.
In company news, Rent-A-Center (
) shares were ending sharply higher Tuesday after reporting
adjusted Q1 earnings that beat analyst projections and forecast
FY14 per-share earnings that also topped Wall Street
The rent-to-own retailer of home furnishings and consumer
electronics posted Q1 earnings of $0.57 per share, ex items,
beating the Capital IQ consensus by $0.02 per share. Revenue rose
1.7% year over year to $833 million, narrowly trailing the Street
view by $7.77 million.
Looking forward, RCII sees FY14 EPS of $2.30 to $2.50, excluding
non-recurring items, topping analyst estimates by at least $0.01
per share. Revenue is seen rising 3% to 6% year over prior-year
levels, or around $3.197 billion to $3.29 billion, in-line with the
$3.25 billion consensus estimate.
RCII shares were up 12.5% at $28.99 each shortly before the
closing bell, earlier climbing as much as 16% during today's
session. The stock has a $23.65 to $40.80 a share, falling 16.7%
over the past year after missing analyst projections during both of
the last two quarters.
In other sector news,
(+) NFLX, Q1 adjusted earnings of $0.86 per share top estimates
by $0.04. Revenue climbs 24.0% year over year to $1.27, matching
consensus. Projected Q2 EPs of $1.12, ex items, beats by $0.13 per
(-) ALSN, Funds affiliated with Carlyle Group (
) and Onex Corp (OCX.TO) sell a combined 25 mln shares of the
company's common stock, paring their collective stake to 23% if
underwriters exercise options to buy 3.75 mln additional