Top Consumer Stocks
WMT -0.38%
MCD -1.50%
DIS +0.29%
CVS -1.01%
KO -0.09%
Consumer stocks were climbing in afternoon trade, with shares of consumer staples companies in the S&P 500 adding about 0.5% while shares of consumer discretionary firms in the S&P 500 were increasing by about 0.2%.
In company news, shares of Aaron's Inc ( AAN ) advanced Friday after the furniture retailer reported Q2 non-GAAP earnings that beat analyst projections although net sales lagged expectations.
Excluding one-time items during the three months ended June 30, the company earned $0.59 per share, topping the Capital IQ consensus by $0.02 per share. The top line increased 2.7% over the same period last year to $789.4 million but still trailed the Street view looking for $807.12 million in Q2 sales.
The company also pared its FY16 earning outlook by $0.07 per share compared with its prior forecast, now expecting between $2.13 to $2.33 per share but remaining in-line with the $2.24 per share Wall Street mean.
AAN shares were up nearly 10% at $24.05 apiece, staying within relatively close range of their session high of $24.17 a share.
In other sector news,
(+) BGS, (+13.8%) Q2 net income of $0.57 per share tops Capital IQ consensus by $0.11 per share. Revenue climbs 58.3% over last year to $306.4 mln, trailing the $316.03 mln consensus.
(-) MDCA, (-30.0%) Q2 EPS of $0.02 trails Capital IQ consensus by $0.16 per share. Revenues rises 0.1% from last year to $337.05 mln, also lagging Street view expecting $346.15 mln. Lowers FY16 revenue guidance.
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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.
