Consumer stocks were mixed in late-afternoon trade with shares
of consumer staples companies in the S&P 500 climbing almost
0.9%. Shares of consumer discretionary firms in the S&P 500
were down almost 0.3%.
In company news, Tesla Motors Inc (
) was higher in late Friday trading and the electric-car
manufacturer late yesterday reporting better than expected Q2
earnings although revenue came up short of Wall Street
Net loss for the three months ended June 30 widened to $62
million, or $0.50 per share, from a $31 million loss a year ago as
it increased spending to develop its second car model and added
employees as it expands into China.
Excluding a non-cash charge tied to the company's
convertible-note offering earlier this year and stock-based
compensation for executives, the company earned $16 million, or
$0.11 cents a share, topping analyst estimates by $0.07 per
Revenue rose 89% from a year earlier to $769.3 million, trailing
the Street by $32.6 million. The company delivered 7,579 Model S
sedans during the quarter, slightly above its guidance of 7,500
Also, Goldman Sachs today raised its price target for TSLA
shares to $210, the company's accelerated delivery schedule while
reiterating its Neutral rating for the stock. The brokerage also
boosted its per-share earnings estimates through 2016.
TSLA shares were up about 4% shortly before Friday's closing
bell at $232.98 apiece, earlier climbing to an intra-day high of
$237.50 a share. The stock has traded in a 52-week range of $116.10
to $265.00 a share, advancing over 73% over the past 12 months.
In other sector news,
(+) SKUL, Q2 EPS of $0.06 per share beats by $0.05. Revenue
climbs 6.1% over year-ago levels to $53.9 mln, in-line with
estimates. Guides FY14 EPS above $0.19 per share consensus. Sees
revenue growing in high-single percentage digits vs. 7% Street
(-) YRCW, Narrows net loss to $4.9 million, or $0.16 per share,
from $15.1 million last year but still $0.15 wider than analyst
estimates. Revenue rises 6% to $1.32 bln, roughly matching Street
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