Sector Update: Consumer

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Consumer stocks are moderately lower, with shares of consumer staples companies in the S&P 500 sliding 0.3%. Shares of consumer discretionary firms in the S&P 500 are down less than 0.1%.

In company news, Sanderson Farms ( SAFM ) is down 6.5% at $66.18 a share, its session low after the poultry processing company posted mixed Q4 financial results, beating on revenue but missing on net income.

Net sales for the three months ended Oct. 31 rose 12.1% over the same quarter last year at $727.1 million, beating analyst forecasts by $10.1 million.

SAFM had net income of $45.3 million, or $1.97 per share, during the latest quarter, up from a $0.41 profit in the year-ago period but still lagging the Capital IQ consensus call looking for $2.28 per share.

In other sector news,

(+) RICK, (+12.1%) Fiscal Q4 EPS of $0.27 beats by $0.12 per share. Revenue rises 17.6% year over year to $28 mln, trailing estimates by around $500,000. The nightclub chain sees FY14 non-GAAP earnings of $1.70 per share; analyst estimates aren't available.

(-) ENT, (-4.7%) Prices offering of 11.6 mln shares of common stock at $14.25 each, generating $165.3 mln in gross proceeds. The company did not say whether one of its major investors interested in buying $50 mln of its stock participated in the deal.



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This article appears in: Investing , Commodities

Referenced Stocks: SAFM

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