Consumer stocks were rising, with shares of consumer staples
companies in the S&P 500 adding about 0.3% while shares of
consumer discretionary firms in the S&P 500 were about 0.3%
In company news, Penske Automotive Group (
) was more than 7% higher in recent trade after the auto-parts
retailer this morning reported Q1 per-share earnings and revenue
exceeding Wall Street expectations.
The company earned $0.73 per share during the three months ended
March 31, $0.02 better than the Capital IQ consensus. Revenues rose
20.9% year over year to $4.05 bln, topping the Street view by
around $340 million. Same-store retail revenue was up 14.9% over
PAG shares were up 7.1% at $46.14 apiece near mid-day, earlier
climbing to a session high of $46.84 a share. The stock has a
52-week range of $27.61 to $47.79 a share, advancing 59% over the
past 12 months.
In other sector news,
(+) BODY, (+3.9%) Announces review of strategic alternatives,
hiring Houlihan Lokey Capital as financial advisor or placement
(-) ORLY, (-0.5%) Guides Q2 EPS at least $0.02 below consensus
view while FY14 earnings forecast also trails estimates by at least
$0.02 per share. Q1 net income of $1.61 per share beats by $0.03.
Revenue grows 9% to $1.73 mln, matching Street.