Sector Update: Consumer


Consumer stocks are lower shortly before the closing bell this afternoon with shares of consumer staples companies in the S&P 500 sinking about 0.5%. Shares of consumer discretionary firms in the S&P 500 are down 0.9%.

In company news, Time Warner Cable ( TWC ) is narrowly higher in late trade, with the cable television provider today announcing a long-term deal to continue distributing Discovery Communications ( DISCA ) channels such as the Discovery Channel, Animal Planet, Oprah Winfrey Network and Destination America.

The deal includes online streaming, the first time DISCA has allowed subscribers to watch those channels from tablets, desktops, or smartphones. Financial terms or other details of the contract were not disclosed.

TWC shares last traded at $121.30 apiece, up 0.4%. DISCA was slightly lower at $85.35 a share, down 0.1%.

In other sector news,

(+) TSN, Reports Q4 EPS of $0.70 on 7.0% year over year rise to $8.89 bln in revenue. Analysts had been expecting the poultry firm to earn $0.69 per share with a 6.1% rise in revenue to $8.89 bln. Issues upside guidance. Raises dividend.

(-) SVU, Goldman Sachs downgrades the supermarket chain to Sell from Neutral, citing likely cuts to the federal food stamp program and encroaching competition.

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: DISCA , TWC

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