Sector Update: Consumer


Consumer stocks were mostly higher with shares of consumer staples companies in the S&P 500 advancing about 0.2% while shares of consumer discretionary firms in the S&P 500 were up nearly 0.7%.

In company news, Zep Inc ( ZEP ) shares rose Tuesday after the chemicals and cleaning products company reported adjusted Q2 net income topping analyst estimates.

The company reported a GAAP net loss of $682,000, or $0.03 per share, during the three months ended Feb. 28, reversing a $2.79 million profit in the year-ago period. Excluding $0.12 per share in one-time integration and legal costs, ZEP earned $0.09 per share, topping the Capital IQ consensus by $0.01 per share.

Net sales declined 3.4% year over year to $157.8 million, trailing analyst estimates for the period by around $1.33 million.

ZEP shares were up more than 3% at $18.14 each in recent trading, matching their session high. The stock has a 52-week range of $12.64 to $21.34 a share, rising nearly 21% over the past year.

In other sector news,

(+) NKE, (+2.5%) Raised to Buy from Hold at Stifel Nicolaus, citing a recent correction in the company's share price and its "standout" fundamentals.

(-) CMCSA, (-1.1%) Tells Federal Communications Commission in documents filed Tuesday its proposed merger with Time Warner Cable ( TWC ) would increase competition among high-speed Internet and cable television providers. TWC shares also fall.

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.

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

This article appears in: Investing , Commodities

Referenced Stocks: ZEP , TWC

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