Sector Update: Consumers Higher Pre-Market; CarMax Sheds 5% on Q4 Results

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Top Consumer Shares:

WMT: flat

MCD: -0.05%

DIS: +0.31%

CVS: +0.47%

KO: +0.34%

GE: +0.38%

Consumer shares were generally higher in pre-market trade Friday.

In consumer sector news, SeaWorld Entertainment ( SEAS ), a theme park and entertainment company, priced an offering by the selling stockholders affiliated with The Blackstone Group L.P.

The selling stockholders are offering 15,000,000 shares of SeaWorld Entertainment's common stock at a price of $30.00 per share. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares from the selling stockholders.

The selling stockholders will receive all of the net proceeds from the offering. No shares are being sold by SeaWorld Entertainment.

And, CarMax ( KMX ) was down 5% after it reported fiscal Q4 earnings and sales that were short of earnings estimates and also announced a $1 billion expansion to the share buyback program, bringing the total -including the remainder on the previous program - to $282.1 million.

The used-vehicle retailer said earnings in the quarter ended Feb. 28 fell to $99.21 million or $0.44 per diluted share from $107.22 million or $0.46. EPS was diluted in Q4 by $0.08 due to changes in accounting, without which EPS would have been $0.52 per share, still missing the $0.53 average estimate from analysts polled by Capital IQ.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: SEAS , KMX

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