Sector Update: Consumer Shares Mixed Pre-Bell; Macy's Down 3% on Q2 Miss

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Top Consumer Shares:

WMT: -0.04%

MCD: +0.05%

DIS: +0.41%

CVS: flat

KO: -0.10%

GE: +0.08%

Consumer shares are mixed in pre-bell trading. Deere ( DE ) reports net income of $996.5 million, or $2.56 per share, for Q3, compared with $788.0 million, or $1.98 per share, last year. Revenues increased 4% to $10.010 billion. Analysts expected $2.16 in earnings on $9.2 billion in revenue.

Company equipment sales are projected to be up about 5%for fiscal 2013 and to decrease by about 5% for Q4 compared with the year-ago periods. Included is an unfavorable currency-translation impact of about 1% for the year. For the full year, net income attributable to Deere & Company is anticipated to be about $3.45 billion. DE up 0.8% at $84.50.

And Macy's ( M ) is down 2.7% at $47.19 in pre-bell trade as it reports Q2 EPS of $0.72, below the analyst consensus of $0.78 per share on Capital IQ. Sales were $6.066 billion, vs. expectations of $6.25 billion.

The company expects comparable sales in the second half of 2013 to increase in the range of 2.5% to 4%. This would calculate to a full-year 2013 comparable sales increase of 2% to 2.9%, which compares to previous guidance for comparable sales to increase by approximately 3.5%.

Earnings for fiscal 2013 are now expected in the range of $3.80 to $3.90 per diluted share. This compares with previous guidance for earnings per diluted share of $3.90 to $3.95. The Street view is $3.94 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.

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This article appears in: Investing Commodities
Referenced Stocks: DE , M


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