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Sector Update: Consumer
By: MT Newswires
Consumer shares are higher in pre-bell trading today.
In consumer sector news, Sanderson Farms ( SAFM ) reports net sales for Q4 2013 were $727.1 million compared with $648.4 million for the same period a year ago.
For the quarter, the company reported net income of $45.3 million, or $1.97 per share, compared with net income of $9.3 million, or $0.41 per share, for Q4 2012.
Analysts expected $2.28 per share on $717 million in revenue, according to Capital IQ estimates.
And, shares of Herbalife Ltd. ( HLF ) edged up pre-market today, after Janney Capital Markets raised its fair-value estimate on the seller of nutritional and personal-care products to $85 from $79, citing the removal of a "key uncertainty" after the company late Monday released the results of a re-audit of financial statements showing no new errors were found.
Finally, analysts at Barclays have reinstated coverage of American Airlines Group Inc. ( AAL ) with an Equalweight rating and a $30 price target.
In pre-market trading, shares of AAL are down 0.04% to $26.06, moving within a narrow 52-week frame of $23.45 - $27.20, having just started trading with that ticker Dec. 10 following a merger between U.S. Airways Group and American Airlines.