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Sector Update: Consumer

Consumer stocks were mostly higher in late Thursday trade although shares of consumer staples companies in the S&P 500 were up less than 0.1% while shares of consumer discretionary firms in the S&P 500 were advancing over 1.1%.

In company news, Dana Holding ( DAN ) was rolling to a solid finish Thursday afternoon after the auto-part manufacturer beat analyst estimates with its Q3 earnings and also raised its FY14 EPS guidance above the Street view.

The drivelines-maker recorded net income during the three months ended Sept. 30 of $90 million, up 32% over a $62 million profit during the same quarter last year. Excluding one-time items, it earned $0.57 per share, up from $0.47 per share last year and beating the Capital IQ consensus by $0.07 per share.

Net sales fell 1.9% year over year to $1.64 billion, missing estimates by around $20 million and with currency fluctuations, primarily in South America, reducing sales by about $35 million.

The company also sees FY14 earnings in a range of $1.93 to $1.96 a share, beating Wall Street expectations by at least $0.07 per share. Revenue is projected to come in around $6.65 billion this year, lagging estimates by around $150 million.

DAN shares were ahead more than 18% shortly before the closing bell at $20.68 each, earlier pushing as high as $20.84 a share. The stock has traded within a 52-week range of $16.81 to $24.82 a share, retreating about 10% over the past year prior to today's gain.

In other sector news,

(+) BBW, Q3 EPS of $0.15, excluding $0.05 per share in management transition and store closing expenses, beating Capital IQ consensus by $0.08 per share. Revenue rose 2.4% year over year to $85.56 mln, topping estimates by $1.72 mln.

(-) YELP, Weak Q4 outlook upstages better-than-expected Q3 earnings, revenue. Sees revenue in range of $107 mln to $108 mln, lagging Street view by at least $2.96 mln. Raises outlook for FY14 adjusted EBITDA by $2.5 mln to new range of $69.5 mln to $70.5 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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