Sector Update: Consumer
Consumer stocks are ending lower today with shares of consumer staple companies in the S&P 500 falling 0.5%. Shares of consumer discretionary stocks in the S&P are down 1.5%.
In company news, Amira Nature Foods Ltd. ( ANFI ) is up more than 10% in late trade at $8.81 a share, climbing as high as $9.24 today after reporting Q1 earnings of $0.21 per share, topping Capital IQ estimates by $0.10 per share.
Quarterly revenue rose 37.6% year over year to $110.3 million, also beating the analyst view by $11.5 mln.
Looking forward, the company issued in-line guidance, forecasting FY14 revenue of between $480 million to $507 million. The Street is at $496.70 million in revenue for the 12 months ending next March.
In other sector news,
(+) MOV, Climbs to new 52-week high after Q2 sales beating the Thomson Reuters consensus call by $2.39 million. Adjusted EPS also tops Street view by $0.12 per share. Issues upside FY14 sales guidance and boosts quarterly dividend by 60%.
(-) TIF, Broader negative market sentiment overwhelms Q2 earnings that beat by $0.09 per share although 4.4% revenue growth also was not enough to meet analyst expectations. Issues in-line FY14 guidance.
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