Sector Update: Consumer Shares Flat to Lower; McCormick up 8% on Q2 Results

By Staff,

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Top Consumer Shares:

WMT: -0.16%

MCD: flat

DIS: flat

CVS: flat

KO: -0.14%

GE: -0.45%

Consumer shares were flat to lower in pre-market trade Thursday.

In consumer stocks news, McCormick & Company, ( MKC ), which makes spices, flavors and condiments, reported Q2 earnings that beat estimates and said it sees its full-year results as likely to hit the upper end of its target range.

Earnings per share rose 8% to $0.64 from $0.59 in the year-ago period. According to Capital IQ, analysts had been expecting $0.62.

Sales rose to $1.03 billion from $1 billion in the year-ago period, just ahead of forecasts for $1 billion.

And, Winnebago ( WGO ) reported Q3 earnings that beat the Street consensus while revenue fell short.

Diluted earnings per share increased 55.6% to $0.42 per share from $0.27 per share a year prior. Revenues for the fiscal 2014 Q3 were $247.7 million, an increase of 13.5%, versus $218.2 million for the fiscal 2013 Q3.

Analysts expected earnings of $0.41 per share and revenue of $257 million, according to Capital IQ estimates.

Finally, Accenture ( ACN ) shares declined slightly in Thursday's pre-market trading , despite higher-than-expected fiscal Q3 results from the provider of management consulting, technology services and outsourcing, as the company also lowered the high end of its earnings guidance for the year below analysts' consensus.

For the quarter ended May 31, net income attributable to the company rose to $817.3 million, or $1.26 per share, from $810.3 million, or $1.21 per share, a year earlier. Excluding one-time items, the prior-year earnings were $1.14 per share. Analysts polled by Capital IQ were looking for a profit of $1.21 per share for the latest quarter.

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: MKC , WGO , ACN

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