Markets

Consumer Sector Update for 02/05/2015: LQDT,CONN,CLW

Top Consumer Stocks

WMT +0.60%

MCD +0.14%

DIS +1.32%

CVS +0.11%

KO +0.10%

Consumer stocks were holding on to moderate gains this afternoon with shares of consumer staples companies in the S&P 500 advancing 0.3%. Shares of consumer discretionary firms in the S&P 500 were ahead over 0.6%.

In company news, Liquidity Services ( LQDT ) charged higher Thursday after the online auction house reported non-GAAP earnings doubling up analyst projections as well as better-than-expected revenue.

Net loss for the seller of surplus and salvage products during the three months ended Dec. 31 was $64.1 million, or $2.14 per share, reversing a $7.1 million profit during the prior-year quarter.

Excluding one-time items, it earned $11.3 million, or $0.38 per share, improving on $0.32 per share last year and beating the Capital IQ consensus by $0.16 per share.

Revenue rose 2.6% over year-ago levels to $125.1 million, trumping analyst estimates by around $14.82 million.

LQDT shares are up almost 29% at $10.34 each in late trade, easing slightly from a session high of $10.50 a share. The stock has traded within a 52-week range of $7.32 to $27.33 a share, sinking dropping more than 67% over the past 12 months prior to today's rally.

In other sector news,

(+) CONN, Reports 4.9% increase in January same-store sales, overall sales last month climbing 16% to $93.6 mln. Issues downside Q4 guidance, expecting $350.5 mln in revenue, trailing analyst estimates by around $75.69 mln.

(-) CLW, Q4 adjusted EPS of $0.77 misses by $0.20 per share. Revenue rises 0.4% to $472.3 mln, trailing Street by $13.12 mln. RBC Capital Markets downgrade to Sector Perform. DA Davidson reiterates Buy rating, raises price target by $4 to $89.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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