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Consumer Sector Update for 02/23/2017: AMCX,DOOR,LB

Top Consumer Stocks

WMT +0.68%

MCD +0.38%

DIS +0.06%

CVS +1.39%

KO +0.75%

Consumer stocks were mixed in afternoon trading, with shares of consumer staples companies in the S&P 500 adding about 0.6% while shares of consumer discretionary firms in the S&P 500 were posting a 0.3% retreat.

In company news, AMC Networks ( AMCX ) still was gaining Thursday after the cable broadcaster reported non-GAAP net income and revenue exceeding Wall Street expectations.

Excluding one-time items, the company earned $1.30 per share, beating the Capital IQ consensus by $0.02 per share. Revenue rose 7.5% over the same quarter last year to $729.6 million, also topping the the $711.5 million consensus.

AMCX shares still were up more than 3% at $59.48 apiece in afternoon trade, well off its 17.6% advance soon after the opening bell to a session high of $67.71 a share.

In other sector news,

(+) DOOR, (+8.4%) Projected non-GAAP FY17 EPS of $4.10 to $4.60, above the $3.72 per share consensus. Q4 revenue falls 0.9% compared with the same quarter last year to $481.03 mln, roughly in-line with the $485.41 mln consensus. Non-GAAP net loss of $0.55 misses by $0.09 per share.

(-) LB, (-15.9%) Sees Q1 EPS between $0.20 to $0.25, trailing the $0.49 per share consensus. Also sees FY18 net income in a range of $3.05 to $3.35 per share, also lagging the $3.69 per share consensus. Q4 EPS tops Street view, reports in-line revenue.

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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