Markets

Sector Update: Consumer

Consumer stocks are higher, with shares of consumer staple companies in the S&P 500 rising 0.7% although shares of consumer discretionary stocks in the S&P are ahead only 0.1%.

In company news, United Natural Foods Inc. ( UNFI ) is up more than 15% at $69.09 a share, moving through a string of new 52-week highs - the last at $69.35 - after the specialty foods distributor late Thursday posted better-than-expected Q4 results.

UNFI earned $0.65 per share during the quarter, up from a $0.51 gain during the year-ago quarter and beating Capital IQ estimates for the period by $0.05.

Revenue rose 13.1% year over year to $1.6 billion, matching the Street view.

For FY14, UNFI sees revenues in the range of approximately $6.65 million to $6.78 billion, or at least $40 million better than the analyst consensus.

It also is forecasting GAAP earnings in a range of $2.40 to $2.50 per share, in-line with estimates expecting $2.48 per share, although analysts typically exclude one-time and non-recurring items from their outlooks.

In other sector news,

(+) ULTA, (+17.6%) Earns $0.70 per share in Q2, beating estimates by $0.03. Revenue also tops forecasts with the personal care products maker's seeing same-store sales improve more than analysts were expecting.

(-) UA, (-2.2%) Athletic apparel company cut to Neutral from Outperform at Credit Suisse.

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

UNFI

Other Topics

Commodities