Top Consumer Shares:
Consumer shares are mixed in pre-bell trading today as Apple (
) is releasing its latest iPhone models this morning. AAPL is up
1.6% in morning trade as consumers are lined up in droves in front
of Apple's retails stores.
In other consumer news, Darden Restaurants (
) reports its quarterly earnings. DRI fell about 5% in pre-market
trading after saying its fiscal Q1 earnings fell 38% to $0.53 from
$0.85 the year earlier, also missing the $0.71 average Capital IQ
analyst estimate. Sales rose 6.1% to $2.16 billion largely in line
with the consensus estimate for sales of $2.2 billion.
The company said it will take steps to cut yearly spending by
approximately $50 million by cutting staff and programs. For 2014,
spending will be down by $25 million, although offset by $10
million in upfront costs related to implementation of the plan.
Finally, Navios Maritime (
) subsidiary Navios Maritime Acquisition has filed a $500 million
mixed shelf registration with the SEC. NM shares have nudged up
0.1% at $7.50 in pre-market trade.
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