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