Sector Update: Consumer Shares Mixed Pre-Market

By Staff,

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Top Consumer Shares:

WMT: -0.67%

MCD: flat

DIS: -0.02%

CVS: +1.46%

KO: flat

GE: -0.47%

Consumer shares were mixed in pre-market trade Tuesday.

In consumer stocks news, Coach ( COH ) shares were up 3.8% after the handbag retailer reported fiscal Q4 results above the Street view.

For the quarter ended June 28, Coach posted net income of $75.3 million, or $0.27 per diluted share, down from $221.3 million, or $0.78 per diluted share a year prior.

In other consumer stocks news, Office Depot ( ODP ) shares were up after it reported Q2 sales of $3.8 billion, matching the mean Bloomberg estimate. It lost an adjusted $0.02 per share, meeting forecasts.

Office Depot now expects to generate adjusted operating income of not less than $200 million in 2014 compared with its prior outlook of not less than $160 million. The company is still expecting to close at least 400 U.S. locations by end 2016.

Finally, Topeka Capital Markets analysts have raised their price target on shares of Time Warner Inc. ( TWX ) to $71 from $70, while maintaining a hold rating on the stock.

The price target increase comes as the media and entertainment company is expected to release its Q2 earnings report later Tuesday.

Shares of TWX trade within a 52-week frame of $57.64 - $88.13.

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: COH , ODP , TWX

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