Sector Update: Consumer

By Staff,

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Consumer stocks are broadly lower today with shares of consumer staple companies in the S&P 500 sinking 1.5% while shares of consumer discretionary firms in the S&P 500 are down 2.1%.

In company news, Tempur Sealy International Inc. ( TPX ) is up more than 13% shortly before the closing bell at $45.49, climbing as high as $47.37 today after the memory-foam mattress seller reported Q3 earnings and revenue that beat Wall Street expectations and reaffirmed its in-line FY13 guidance.

TPX earned $0.73 per share during Q3, ex items, beating the Capital IQ consensus by $0.05 per share. Revenue more than doubled over year-ago levels, rising 111.4% to $735.5 million and topping estimates by $26.83 million.

For FY13, TPX said it continues to see earnings of $2.25 to $2.40 per share on between $2.425 billion to $2.450 billion. The Street is looking for the company to earn $2.31 on $2.44 billion in revenue.

In other sector news,

(+) JCP, Department-store retailer says same-store sales in rose 0.9% in October, up 490 basis points from September. Sales on increased 37.6% year over year.

(-) WFM, Q4 revenue trails estimates by 2%. The upscale grocer also lowered its guidance for FY14 EPS, revenue below consensus, upstaging a 20% increase in the quarterly dividend and a new $500 million stock buyback program.

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
Referenced Stocks: TPX

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