Markets

Consumer Sector Update for 05/05/2016: LQDT,YUME,FRSH

Top Consumer Stocks

WMT -0.64%

MCD +0.06%

DIS +1.05%

CVS +1.17%

KO +0.06%

Consumer stocks have turned moderately lower, with shares of consumer staples companies in the S&P 500 slipping about 0.1% while shares of consumer discretionary firms in the S&P 500 were declining about 0.4%.

In company news, Liquidity Services ( LQDT ) was rising Thursday after the online business surplus marketplace today reported a surprise fiscal Q2 profit and revenue also exceeding Wall Street expectations despite falling compared with year-ago levels.

Excluding one-time items, the company earned $1.1 million, or $0.04 per share, halving its $0.08 per share non-GAAP profit during the same quarter last year but still easily dispatching the Capital IQ consensus looking for a $0.07 per share net loss. Revenue declined 15.6% to $86.9 million, topping the $69.8 million analyst mean.

For Q3, Liquidity Services is projecting an adjusted net loss of between $0.07 to $0.13 per share, trailing the consensus view by at least a penny.

LQDT shares were up nearly 6% at $5.86 each, backing down from a session high of $6.21 a share soon after the opening bell.

In other sector news,

(+) YUME, (+9.4%) Q1 net loss of $0.10 per share is $0.02 smaller than the analyst consensus. Revenue slips 2.2% from last year to $39.2 mln, topping estimates by $3.2 mln.

(-) FRSH, (-26.7%) Reduced to Neutral from Outperform at Robert W. Baird, which also trimmed its price target by $2 to $11 a share. Downgrade follows Q1 EPS of $0.04 trailing Street view by $0.09 per share. Net sales also miss.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

LQDT

Other Topics

Commodities

Latest Markets Videos