Top Consumer Shares:
Consumer shares were generally higher in pre-market trade
In consumer sector news, General Mills (
), the maker of Honey Nut Cheerios and other branded food products,
said fiscal Q3 adjusted EPS and sales declined on seasonal trends,
increased marketing in the group's U.S. yoghurt business and the
negative impact from foreign currency fluctuations.
Adjusted diluted EPS was $0.62 in the three months to Feb. 23rd
compared to $0.66 in last year's third quarter. That tops estimates
by one cent, according to Capital IQ.
Net sales of $4.38 billion were 1% below year ago levels and
slightly below the $4.4 billion analysts had been looking for.
And, Orbitz (
) was down 6.2% at $8.40 after Goldman Sachs reportedly cut its
rating on the shares to Sell from Neutral.
Finally, Pacific Sunwear (
) shares were up 5% pre-market after it reported Q4 net loss late
Tuesday that beat the Street view as same store sales increased
Pacific Sunwear reported $218.6 million in Q4 net sales versus
net sales from continuing operations of $222.8 million for Q4 2012
ended February 2, 2013.
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