Sector Update: Consumer Shares Mixed Pre-Market; Washington Post up 5% on Acquisition

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Top Consumer Shares:

WMT: -0.25%

MCD: flat

DIS: -0.26%

CVS: +0.29%

KO: flat

GE: -0.12%

Consumer shares are generally mixed in pre-bell trading. Shares in The Washington Post ( WPO ) are up 5% pre-market after Amazon.com's Jeffrey Bezos agreed to buy the company for $250 million late Monday. AMZN is not involved in the transaction.

Washington Post shares are rising above a 52-week high of $577.00 set Monday.

And, Michael Kors Holdings ( KORS ) shares are up 6% to $72.30 in pre-market trading after saying fiscal Q1 earnings rose to $0.61 per share from $0.34 the year earlier, exceeding the $0.41 average Capital IQ analyst estimate. Total revenue rose 54.5% to $640.9 million, well ahead of the $572 million estimate.

For fiscal Q2, Michael Kors expects total revenue between $695 million and $705 EPS is expected to be in the range of $0.62 to $0.64. Analysts are expecting Q2 sales of $701 million and EPS of $0.64.

For fiscal 2014, the company now expects total revenue in the range of $2.8 billion to $2.9 billion assuming comparable store sales rising 20%. Diluted EPS is seen between $2.67 and $2.69. Analysts are expecting FY14 sales of $2.9 billion and EPS of $2.57.

Finally, CVS ( CVS ) reports adjusted Q2 EPS increased 19.6% to $0.97. Net revenues for the Q2 2013, increased 1.7%, or $534 million to $31.2 bln.. The analyst consensus on Capital IQ was for earnings of $0.96 per share on revenue of $31.1 bln.

Narrowed 2013 full-year Adjusted EPS range to $3.90 to $3.96 and it provided Q3 Adjusted EPS guidance of $1.00 to $1.03. The Street view is $3.98 per share for the year and $0.97 per share for Q3. CVS shares are down 0.2$ at $61.50.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: CVS , KORS , WPO

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