Sector Update: Consumer Shares Higher Pre-Market; Molson Coors Q1 Results Top Street View

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Top Consumer Shares:

WMT: -0.17%

MCD: +0.21%


DIS: +0.58%

CVS: flat

KO: +0.59%

GE: +0.50%

Consumer shares were generally higher in pre-market trade Wednesday.

In consumer sector news, Sinclair Broadcast Group ( SBGI ) reported net income of $27.2 million, or $0.27 per diluted share, beating Cap IQ estimates of $0.17 per share. This compares to earnings of $0.20 for the same quarter last year.

Total revenue came in at $412.6 million versus estimates of $403 million, up from $283 million for Q1 2013.

Meanwhile, the company declared a quarterly dividend of $0.15, unchanged from the prior quarter.

And, Brewing company Molson Coors Brewing ( TAP ) reported Q1 results above analysts' expectations, boosted by strength in its Canada and U.S. businesses.

Net income attributable to the company jumped to $163.4 million, or $0.88 per share, from $28.5 million, or $0.16 per share, a year earlier. Excluding one-time items and discontinued operations, the company earned $0.55 per share in underlying after-tax income, up from $0.26 per share a year earlier and well above the $0.35 per-share mean estimate of analysts polled by Capital IQ.

Finally,, Lincoln Educational Services ( LINC ) reported better-than-expected financial results for Q1, and provided mixed guidance for Q2.

The provider of career-oriented post-secondary education reported Q1 net loss per share of $0.49 from continuing operations, including $0.21 a valuation allowance of deferred tax assets, compared with net loss per share from continuing operations of $0.24 for the same period in 2013. Excluding the impact of the valuation allowance, non-GAAP loss was $0.28 per share. The Capital IQ consensus estimate is for $0.56 loss per share.



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: SBGI , TAP , LINC

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