Markets

Sector Update: Consumer

Consumer stocks were mixed, with shares of consumer staples companies in the S&P 500 slipping about 0.2%. Shares of consumer discretionary firms in the S&P 500 were ahead about 0.3%.

In company news, shares of Conns Inc. ( CONN ) were higher Monday after the consumer electronics retailer reported Q1 earnings and revenue that beat analyst expectations.

CONN shares were up about 5.3% at $49.12 each in mid-day trade, earlier climbing to to an intra-day high of $51.50 a share. The stock has a 52-week range of $31.17 to $80.34 a share, little changed over the past 12 months.

The company earned $0.80 per share during the three months ended April 30, beating the Capital IQ consensus by $0.07 per share. Revenue grew 33.6% year over year to $335.4 million, topping estimates by around $6.51 million. Same-store sales rose 15.6% over year-ago levels.

CONN also reaffirmed its FY15 earnings outlook, forecasting net income of between $3.40 to $3.70 per share, in-line with analyst projections looking for a $3.49 per share profit during the 12 months ending next January.

In other sector news,

(+) EVRY, (+66.6%) Enters into forbearance pact with lenders under its term loan agreement. Also amends its asset-backed loan facility and announces plans to partially reopen its facility in Monaca, Pa., which has been closed since May 15.

(-) ACAT, (-10.2%) CEO and Board Chairman Claude Jordan steps down and will be replaced on an interim basis by former CEO Chris Twomey. Reiterates in-line FY15 EPS, revenue guidance. R.W. Baird downgrade to Neutral from Outperform.

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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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