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Sector Update: Consumer
By: MT Newswires
Consumer shares are mixed in pre-bell trading. Best Buy ( BBY ) shares are surging 15.1% at $35.36 as it reports Q2 revenue of $9.3 billion, down slightly from $9.339 billion recorded in the year ago quarter but ahead of the analyst consensus of $9.11 billion on Capital IQ. Non-GAAP EPS was $0.32, up from $0.26 per share last year and ahead of the Street view of $0.11 per share, if comparable.
And J.C. Penney ( JCP ) is up 2.7% as it reports Q2 sales of $2.66 billion, down from $3.02 billion in the year ago quarter and below the analyst consensus of $2.77 billion on Capital IQ. Adjusted loss was $2.16 per share. The Street view was a loss of $1.14 per share.
Tesla ( TSLA ) shares are up 2.1% at $148.00 after its Model S achieved a perfect score on an independent test by the National Highway Traffic Safety Administration. Only 1% of cars achieve the perfect score. Tesla received a five-star rating in every category.
American Woodmark Corporation ( AMWD ) reported first quarter 2014 net income (excluding special items) of $6.7 million, or $0.43 per diluted share, compared to $1 million, or $0.07 per diluted share, in the same period last year. AMWD is flat at $31.73 in pre-market.
Net sales rose by 20% compared with the first quarter of the prior fiscal year to $178.1 million. The company experienced growth in both the remodel and new construction sales channels during the first quarter of fiscal year 2014, led by new construction growth of more than 40%. No analyst estimates were available for comparison.