Sector Update: Consumer Stocks Reverse Morning Advance; Wynn Resorts Cashes In Following Q2 EPS Beat


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Consumer stocks turned lower this afternoon, giving back earlier gains, with shares of consumer staples companies in the S&P 500 falling around 0.4%. Shares of consumer discretionary firms in the S&P 500 were down 0.1%.

In company news, Wynn Resorts ( WYNN ) was higher Tuesday after the casino company reported Q2 adjusted earnings that beat analyst projections by $0.17 per share.

Net income during the three months ended June 30 rose to $203.9 million, or $2.00 per share, from $129.8 million during the same quarter last year. Excluding non-recurring items and debt-extinquishment costs, its adjusted profit rose to $2.11 per share, topping the Capital IQ consensus looking for a $1.94 per share quarterly gain.

Revenue climbed 6% over 2013 levels to $1.41 billion, narrowly trailing the Street view look by around $20 million. Revenue from its Las Vegas operations rose 13% over year-ago levels while its Macau operation only saw 3.2% year over year growth.

Also today, the company approved a Q2 cash dividend of $1.25 per common share, payable Aug. 26 to shareholders of record on Aug. 12.

WYNN shares were ahead 3.1% at $217.47 each, earlier climbing to a session high of $220.50 a share. The stock has traded within a 52-week range of $126.48 to $249.31 a share, rising slightly more than 74% over the past 12 months.

In other sector news,

(+) CPLA, Sees Q3 revenue rising 1% to 2% over year-ago levels to a range of $101.7 mln to $102.7 mln, topping the Street view by at least $90,000. Q2 EPS of $0.72 per share misses by $0.13. Revenue rises 1.1% to $104.8 mln, beating by $510,000.

(-) HLF, Q2 EPS of $1.55 misses by $0.02 per share. Revenue rises 7.1% over to $1.31 bln, trailing consensus by around $50 mln. Raises FY14 earnings outlook to $6.17 to $6.32 per share, in-line with Street expecting a $6.30 per share profit this year.

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

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