Markets

Sector Update: Consumer

Consumer stocks are mostly higher, with shares of consumer staples companies in the S&P 500 advancing 0.3%, although shares of consumer discretionary firms in the S&P 500 are up nearly 1.7%.

In company news, Arkansas Best Corporation ( ABFS ) shares rose Thursday after the trucking company reported adjusted Q4 earnings that beat analysts forecasts. Revenue also topped Wall Street expectations.

ABFS earned $0.31 per share during the December quarter, ex items, beating the Capital IQ consensus by $0.02 per share. Revenue rose 7.7% over the same quarter last year to $578.6 mln, surpassing the Street view by nearly $13 million.

Looking forward, the company said it anticipates net capital spending during 2014 of $90 million to $100 million, including around $60 million of revenue equipment for replacement equipment at its ABF Freight unit.

Shares were up about 4.8% at $33.77 in recent trade, climbing as high as $34.18 each during the session. The stock has a 52-week range of $9.62 to $35.96 a share.

In other sector news,

(+) BLL, (+4.8%) Q4 comparable earnings of $0.86 per share beat year-ago EPS of $0.64 as well as analyst expectations looking for a $0.73 per share gain. Revenue slides 4.7% year over year to $2 bln, trailing forecasts by around $100 mln.

(-) ADT, (-16.8%) Falls to an all-time low after posting fiscal Q3 earnings of $0.43 per share, ex items, down from a $0.44 profit last year and trailing Street view by $0.01 per share. Revenue rose 3.7% to $839 mln, missing analyst expectations by $11 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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