Consumer stocks are higher today with shares of consumer staple
companies in the S&P 500 rising about 0.7%. Shares of consumer
discretionary stocks in the S&P are ahead around 0.8%.
In company news, Campbell Soup Company (
) is down near 3% at $43.50 a share after this morning reporting
fiscal Q4 revenue of $1.821 billion, up 13.1% year over year but
still lagging the analyst consensus by around $19 million.
Adjusted net income was $0.45 per share, exceeding Wall Street
expectations for the July quarter by $0.03 per share. CBP earned
$0.44 per share on $1.61 billion in revenue during the year-ago
Looking to FY14, CPB is expecting its continuing operations to
grow sales by 5% to 6% from its $8.05 billion in sales during the
12 months ended July 28, suggesting between $8.45 billion to $8.53
billion during the current fiscal year.
Adjusted EPS is seen growing 3% to 5% over the $2.46 reported
for FY13, which works out to adjusted earnings this year of $2.53
to $2.58 per share.
Analysts, on average, are looking for adjusted earnings of $2.74
on $8.95 billion in net sales during the 12 months ending next
In other sector news,
(+) GES, (+13%) Q2 earnings of $0.52 per share beat analyst
expectations by $0.17 with revenue climbing 0.5% year over year to
$639.0 mln, also topping estimates by $36.13 mln. Raises FY14 EPS
guidance by as much as $0.08, remaining in-line with forecasts.
(-) TFM, (-9.6%) Q2 revenue rises 13.4% from last year to $354.8
mln, missing Street view by $1.34 mln. Net income of of $0.32 per
share matched estimates. Issues downside FY14 EPS outlook of $1.50
to $1.55 per share, at least $0.02 under analyst estimates.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.