Markets
AAN

Consumer Sector Update for 07/29/2016: AAN,BGS,MDCA

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.

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

AAN MDCA BGS

Other Topics

Commodities