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FN

Consumer Sector Update for 11/03/2015: FN,SALE,CAR

Top Consumer Stocks

WMT +0.93%

MCD +0.03%

DIS +0.60%

CVS -0.40%

KO -0.13%

Consumer stocks ending were widely mixed today, with shares of consumer staples companies in the S&P 500 sinking almost 0.5% while shares of consumer discretionary firms in the S&P 500 were rising nearly 0.5%.

In company news, Fabrinet ( FN ) shares rose to a four-year high on Tuesday after the contract manufacturer beat analyst estimates with its fiscal Q1 earnings and revenue and also guided its financial results for the current quarter above the Street view.

Excluding one-time items, the company earned $0.45 per share, topping the Capital IQ consensus by $0.03 per share. Revenue also grew 14.3% over year-ago levels to $216.4 million, exceeding the $208.7 million consensus.

For Q2 ending in December, Fabrinet is projecting adjusted earnings of $0.45 to $0.47 per share, exceeding the Street view by at least $0.01 per share. It also sees revenue in a range of $218 million to $222 million compared with the $213.1 million mean analysts are expecting.

FN shares were up more than 13% at $23.95 apiece, earlier climbing to their best level since May 2011 at $24.48 a share.

In other sector news,

(+) SALE, Adjusted Q3 EPS of $0.12 beats analyst consensus by $0.08 per share. Revenue slips 7.3% to $52.4 mln, also topping the $48.58 mln consensus. Projected Q4 revenue of $74 mln to $76 mln largely exceeds $74.07 mln consensus.

(-) CAR, Adjusted Q3 profit of $1.98 per share misses by $0.04 per share. Revenue essentially in line. Also cuts FY15 earnings outlook, citing negative effects of a stronger U.S. dollar.

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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