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

By Staff,

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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 Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: SBGI , TAP , LINC

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