Sector Update: Consumer

By Staff,

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Consumer stocks are ending lower today with shares of consumer staple companies in the S&P 500 falling 0.5%. Shares of consumer discretionary stocks in the S&P are down 1.5%.

In company news, Amira Nature Foods Ltd. ( ANFI ) is up more than 10% in late trade at $8.81 a share, climbing as high as $9.24 today after reporting Q1 earnings of $0.21 per share, topping Capital IQ estimates by $0.10 per share.

Quarterly revenue rose 37.6% year over year to $110.3 million, also beating the analyst view by $11.5 mln.

Looking forward, the company issued in-line guidance, forecasting FY14 revenue of between $480 million to $507 million. The Street is at $496.70 million in revenue for the 12 months ending next March.

In other sector news,

(+) MOV, Climbs to new 52-week high after Q2 sales beating the Thomson Reuters consensus call by $2.39 million. Adjusted EPS also tops Street view by $0.12 per share. Issues upside FY14 sales guidance and boosts quarterly dividend by 60%.

(-) TIF, Broader negative market sentiment overwhelms Q2 earnings that beat by $0.09 per share although 4.4% revenue growth also was not enough to meet analyst expectations. Issues in-line FY14 guidance.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ANFI

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