Sector Update: Consumer Shares Higher; Elizabeth Arden Q2 Results Miss Street Consensus

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Top Consumer Shares:

WMT: flat

MCD: +0.77%


DIS: +0.44%

CVS: flat

KO: +0.12%

GE: +0.37%

Consumer shares are generally higher in pre-bell trading. Elizabeth Arden ( RDEN ) shares are up 0.28% at $14.25 pre-market as it said fiscal Q4 earnings fell to $0.10 per share from $0.28 a year ago, missing the $0.33 average analyst estimate. Net sales rose 0.8% to $267.6 million, also missing the consensus of $291 million.

For Q1 2014, the company said it expects sales to be flat or down 1% from $345 million the earlier and adjusted EPS between $0.13 and $0.18. Both are well below the analyst consensus estimates of sales of $363 million and EPS of $0.50.

For FY14, RDEN said it expects net sales to increase 3% to 5% and EPS between $2.15 and $2.30, including a negative impact of $0.19 per share due to foreign currency translation as compared to rates for fiscal 2013. Analysts are predicting 2014 sales of $1.5 billion and EPS of $2.85. RDEN shares closed down 1.10% yesterday.

And, Tesla ( TSLA ) is retreating from early pre-market high of $158.49, dropping back near $152 with the low in morning session standing at $150.40. Tesla ( TSLA ) yesterday reported Q2 ex-items EPS of $0.20, versus analyst expectations of a loss of $0.17 per share, according to Capital IQ. Revenue was $551 million, versus expectations of $385 million.

The company said Model S annualized sales could exceed 40,000 units per year by late 2014. The company expects to deliver 5,000 Model S cars in Q3 and over 21,000 units worldwide in 2013.

Finally, Cooper Tire & Rubber Company ( CTB ), which is merging with Apollo Tyres, said Q2 EPS dropped to $0.55 per share from $0.82 in the prior year quarter. Net sales were $884 million, a decrease of $174 million compared with the same period a year ago and below The Street view for $973.3 million.



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: CTB , RDEN , TSLA

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