Sector Update: Consumer

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Consumer stocks were ending moderately higher Friday with shares of consumer staples companies in the S&P 500 ahead about 0.1%. Shares of consumer discretionary firms in the S&P 500 were up 0.4%.

In company news, Vail Resorts ( MTN ) was up more than 6% in late trade after reporting fiscal Q3 earnings and revenue that easily beat analyst estimates as well as raising its outlook for FY14 earnings before interest, taxes, depreciation and amortization.

The hotelier earned $3.18 per share during the three months ended April 30, up from a $2.66 profit during the same quarter last year and beating the the Capital IQ consensus Estimate by $0.26 per share. Revenue rose 15.6% year over year to $543 million, topping the Street by around $20.34 million.

Looking forward, MTN raised its EBITDA for the fiscal year ending next month by $12 million over its prior outlook to a new range of $267 million to $273 million, representing 11% to 13% growth over FY13 levels.

The company also declared a quarterly dividend of $0.4150 per share, payable July 8 to shareholders of record on June 23.

In other sector news,

(+) ANGI, Upgrade to Buy from Neutral at Bank of America Merrill Lynch.

(-) DMND, Q3 net loss widens to $105.6 mln, or $3.63 per share, from a $15.6 mln loss last year. Excluding one-time items, it earned $0.11 per share, trailing Street view by $0.06. Net sales rose 3.2% to $190.9 mln, lagging consensus by $1.1 mln.



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Referenced Stocks: MTN

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