Sector Update: Consumer Shares Down Pre-Market; Xerox Drops 3% on Q4 Results
Top Consumer Shares:
Consumer shares are flat to lower in pre-bell trading Friday.
In consumer sector news, Kimberly-Clark ( KMB ) rose nearly 2% in pre-market trade after saying its Q4 adjusted earnings rose to $1.44 per share from $1.37 the year earlier, exceeding the average $1.39 Capital IQ analyst estimate. Sales were flat at $5.3 billion, in line with the consensus estimate.
For FY14, the maker of brands such as Kleenex, Scott and Huggies said it expects adjusted EPS between $6.00 and $6.20, straddling the $6.10 estimate. It also said it expects to increase its dividend by between 2% and 4% from April and share buybacks will total $1.3 billion to $1.5 billion this year.
And, Xerox ( XRX ) is down 3% as it reports Q4 adjusted EPS of $0.29, matching the analyst consensus on Capital IQ. Revenue was $5.56 bln, shy of the Street view of $5.63 bln.
For Q1, the company is targeting EPS of $0.23-$0.25, vs. the Street view of $0.24 per share.
For full year 2014, the company expects EPS of $1.10 to $1.16, vs. the analyst consensus of $1.13 per share.