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Sector Update: Consumer Shares Flat To Slightly Higher; GE Leads Way After Q3

Posted
10/18/2013 8:49:00 AM
By: MT Newswires
Referenced Stocks:GE;GM;PIR

Top Consumer Shares:

WMT: +0.05% in pre-market.

MCD: +0.25% in pre-market.

DIS: +0.5% in pre-market.

CVS: flat

KO: +0.5% in pre-market.

GE: +2.9%

Consumer shares are flat in pre-bell trading, as several major companies report quarterly earnings.

In consumer stocks news, GE ( GE ) is up 3% at 52 week high levels in pre-market trade as it reports Q3 operating EPS of $0.36, vs. the analyst consensus of $0.36 per share on Capital IQ and the Thomson Reuters consensus of $0.35 per share. Revenue was $35.7 bln, vs. expectations of $36 bln.

Pier 1 Imports ( PIR ) announced its Board of Directors has authorized a new $200 million share repurchase program. The new share repurchase program is effective immediately and authorizes the repurchase of up to $200 million of the company's common stock in open market or private transactions.

Finally, General Motors ( GM ) worldwide sales rose 4.5% the first nine months of the year versus the same nine months last year, Bloomberg reports, citing an e-mailed statement from the company. Sales rose to 7.25 million with Q3 deliveries rising 5.5% to nearly 3.4 million.