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.

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

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

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