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Sector Update: Consumer

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Consumer stocks are ending mixed this afternoon with shares of consumer staples companies in the S&P 500 sliding about 0.1% while shares of consumer discretionary companies in the S&P 500 are advancing nearly 1.0%.

In company news, Arctic Cat ( ACAT ) is down by nearly 14% at $50.31 a share, dropping as low as $47.50 after the snowmobile and recreational vehicles manufacturer posted Q2 earnings of $1.70 per share, trailing analyst estimates by $0.26 per share.

Revenue rises 4.1% year over year to $238.5 million, missing the Street view by $13.1 million.

ACAT is maintaining its guidance for FY14 ending in March but is now targeting the lower end of its forecast range. It sees earnings in a range of $3.27 to $3.37 per share - up 13% to 17% over the prior-year EPS - while sales are seen rising 12% to 14% over last year to $754 million to $768 million. Analysts, on average, are expecting EPS of $2.35 on $755.61 million in sales.

In other sector news,

(+) CAKE, Q3 revenue rises 3.5% year over year to $469.7 mln, beating expectations by $1.82 mln. Reports in-line Q3 net income of $0.52 per share, ex items. Same-store sales increase 0.8% over year-ago levels.

(-) ANGI, Q3 loss of $0.23 per share is $0.03 worse than estimates. Revenue climbs 55.9% over year-ago quarter to $65.5 mln, also trailing expectation by $600,000. Sees Q4 revs of $68 mln to $69 mln, lagging the Street consensus by $1.4 mln.

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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