Sector Update: Consumer Shares Higher Pre-Market: Wendy's Sinks 7% on Q3 Results

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Top Consumer Shares:

WMT: +0.45%

MCD: -0.42%


DIS: +0.65%

CVS: flat

KO: +0.17%

GE: +0.26%

Consumer shares are higher today as Wendy's ( WEN ) is down 7% as it reports Q3 adjusted EPS of $0.08, vs. the analyst consensus of $0.06 per share on Capital IQ. Revenue was $640.7 mln, below expectations of $642 mln.

For 2013, the Company is raising its Adjusted EBITDA outlook to approximately $365 million and its Adjusted Earnings Per Share outlook to approximately $0.25.

Due to its strong year-to-date performance, the company intends to make incremental fourth-quarter investments to drive future growth. As a result, the company projects that its fourth-quarter Adjusted EBITDA will decline approximately ten percent compared to the fourth quarter of 2012.

And, Toll Brothers ( TOL ) says it is commencing a public offering of 6,250,000 shares of its common stock, par value $0.01 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares from the company.



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.

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


This article appears in: Investing , Commodities

Referenced Stocks: TOL , WEN

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