Top Consumer Stocks
Consumer stocks were ending significantly lower, with shares of consumer staples companies in the S&P 500 sinking almost 2.1% this afternoon while shares of consumer discretionary firms in the S&P 500 fell just over 3.4%.
Among consumer stocks moving on news:
(+) Dorman Products ( DORM ) rolled to a big gain on Friday, at one point rising almost 13%, after the auto-parts manufacturer reported Q3 financial results exceeding year-ago comparisons and analyst estimates. Dorman earned $1.06 per share during the three months ended Sept. 30, rising 31% over its $0.81 per share in net income during the same quarter last year and beating the Capital IQ consensus by $0.02 per share. Net sales rose 10% year over year to $224.6 million, also topping the $235.09 million Street view.
In other sector news:
(+) Chipotle Mexican Grill ( CMG ) was almost 3% higher Friday afternoon, climbing to a new session high and overcoming a nearly 1% mid-morning decline, after breezing past Wall Street expectations with its adjusted Q3 net income. Excluding one-time items, the restaurant chain earned $2.16 per share during the three months ended Sept. 30, improving on non-GAAP earnings of $1.33 per share during the same quarter last year and sailing past the Capital IQ consensus by $0.14 per share. Net sales rose 8.6% to $1.23 billion, roughly in-line with analyst projections. Same-store sales increased 4.4% over the year-ago period.
(+) Deckers Outdoor ( DECK ) rose almost 7% on Friday after the footwear and apparel company reported an increase in adjusted fiscal Q2 net income to $2.38 per share from $1.54 per share during the same quarter last year and beating the Capital IQ consensus by $0.67 per share. Total sales rose to $501.9 million from $482.5 million last year and also exceeding the $493.7 million Street view. It also sees non-GAAP Q3 earnings in a range of $5.10 to $5.25 per share on between $805 million to $825 million in quarterly sales; the Street is expecting Deckers to earn $5.18 per share on $803 million in net sales.
(-) Amazon ( AMZN ) fell as much as 10% on Friday after the online retailer reported a 29% sales increase during the three months ended Sept. 30 to $56.6 billion but still lagging the Capital IQ consensus expecting $57 billion in sales. Net income raced to $5.75 per share from $0.52 per share last year and topped the $3.09 per share analyst mean. It also is projecting up to 20% year-over-year sales growth for Q4 to $72.5 billion, missing the $73.7 billion Street view.