Sector Update: Consumer


Consumer shares were mixed in pre-market trade Tuesday.

In consumer stocks news, Fresh Del Monte Produce ( FDP ) reported better-than-expected financial results for Q2 ended June 27, 2014.

The fruit company posted Q2 net income of $64.3 million or $1.15 per share, compared with the prior-year period's $62 million or $1.10 per share. Comparable net income was $66.3 million or $1.19 per share, versus $57.3 million or $1.02 per share in the same period a year ago.

And, Reynolds American ( RAI ), the tobacco company buying rival Lorillard for $25 billion, posted higher-than-expected Q2 earnings, though revenue fell slightly short of forecasts.

Adjusted EPS was $0.89, up 6% from a year ago and two cents above the analyst consensus of $0.87, according to Capital IQ. On a GAAP basis, EPS rose 9.5% to $0.92.

Finally, Arrow Electronics ( ARW ), a provider of electronic products and services, reported fiscal Q2 adjusted earnings above analysts' consensus estimate while revenue was near the Street view and the company's forecast Q3 results bracketed expectations.

For the quarter ended June 28, 2014, the company posted net income attributable to shareholders of $127.9 million, or $1.27 per diluted share, compared with $89.9 million, or $0.86 per diluted share, for the quarter ended June 29, 2013.

Adjusted earnings per diluted share were $1.43 in the latest quarter, up from $1.19 a year earlier and above analysts' mean estimate of $1.42, according to Thomson Financial.

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: FDP , RAI , ARW

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