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Sector Update: Consumer

By: MT Newswires
Posted: 11/7/2013 1:11:00 PM
Referenced Stocks: LPSN

Consumer stocks are broadly lower, with shares of consumer staple companies in the S&P 500 sinking 1.1% while shares of consumer discretionary firms in the S&P 500 are down 1.2%.

In company news, LivePerson Inc. ( LPSN ) is up more than 23% at $11.09 a share after reporting Q3 earnings and revenue that beat analyst expectations.

The business services company earned $0.07 per share during the September quarter, ex items, topping the Capital IQ consensus by $0.03. Revenue rose 13.9% year over year to $45.2 million, also exceeding the Street view by $720,000. Bookings were up 43.6% over the prior quarter at $10.2 million and rising nearly 25% over the year-ago quarter.

Looking ahead, LPSN is expecting Q4 EPS of $0.04 to $0.06, ex items, on between $46 million to $47 million in revenue. The Street is looking for a $0.06 per share profit and $47.08 million in revenue in Q4.

In other sector news,

(+) JCP, (+7.0%) Department-store retailer says same-store sales rose 0.9% in October, up 490 basis points from September. Sales on increased 37.6% year over year.

(-) WFM, (-9.0%) Q4 revenue trails estimates by 2%. The upscale grocer also lowered its guidance for FY14 EPS and revenue to below consensus, upstaging a 20% increase in the quarterly dividend and a new $500 million stock buyback program.