Markets

Consumer Stocks Mixed Near Close; Meritor Climbs to New High After Q2 Results Top Estimates

Top Consumer Stocks

WMT -0.10%

MCD -0.39%

DIS +0.11%

CVS +0.45%

KO -0.25%

Consumer stocks were mixed this afternoon with shares of consumer staples companies in the S&P 500 falling around 0.2%. Shares of consumer discretionary firms in the S&P 500 were ahead almost 0.2%.

In company news, shares of auto-parts supplier Meritor ( MTOR ) were up more than 15% in late trade, earlier advancing to a new 52-week high after the company today reported fiscal Q2 earnings and revenue exceeding Wall Street expectations.

MTOR earned $0.22 per share during the three months ended March 31, beating the Capital IQ Consensus Estimate by 40.13 per share. Revenue rose 5.9% year year over year to $962 million, also topping analyst projections by around $39.52 million.

The company also raised its outlook for FY14 earning by $0.20 to a new range of $0.50 to $0.60 per share, beating the Street view by at least $0.15 per share. It is expecting revenue of between $3.75 billion to $3.80 billion, topping estimates by at least $40 million.

Shares were up 15.1% at $13.67 late in Thursday's session, earlier reaching a new 52-week high of $13.75 a share.

In other sector news,

(+) WTW, Adjusted Q1 EPS of $0.31 crush Capital IQ consensus by $0.22 per share. Revenue falls 16.6% to $409.4 mln, exceeding Street view by around $10.2 mln. Projected FY14 EPS of $1.45 to $1.70, ex items, tops estimates by at least $0.05 per share.

(-) EDMC, Tumbles to all-time low after the for-profit educator reported another gaping quarterly net loss and reduced its full-year outlook although its Q3 adjusted net income and revenue beat analyst forecasts for the period.

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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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