Sector Update: Consumer Stocks Generally Lower Pre-Bell; Goldman Downgrades Disney to Neutral

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Top Consumer Shares:

WMT: +0.26%

MCD: -0.31%

DIS: -1.9%

CVS: -0.42%

KO: flat

GE: -1.38%

Consumer shares are generally lower in pre-bell trading. Among them, shares in Walt Disney Co. ( DIS ) are down 1.9% in pre-market trading after analysts at Goldman Sachs downgraded their rating to Neutral from Conviction Buy. The firm maintained a price target of $70. The shares are trading in a year's range of $46.53 - $67.89.

In consumer earnings news, Pier 1 Imports ( PIR ) reports Q1 EPS of $0.19, in line with the analyst consensus on Capital IQ. Sales were $394.8 million, matching expectations. For FY 2014, the company expects comp store sales growth in the mid-single-digit range and EPS of $1.27 to $1.32, up from prior guidance of $1.26 to $1.31 per share. The analyst view is $1.32 per share. PIR is up 0.04% in pre-market trade.

Also, Rite Aid ( RAD ) Rite Aid ( RAD ) reports Q1 net income of $0.09 per share, versus a $0.03 loss per share a year prior. Revenues were $6.3 billion. Same store sales for the quarter decreased 2.5 percent over the prior year.

Analysts were calling for $0.10 per share in earnings on $6.3 billion in revenue in Q1, compared to a $0.03 per share loss on $6.5 billion in revenue a year prior. RAD is down 3.5% at $3.00.



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: DIS , PIR , RAD

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