Markets
FDX

Sector Update: Consumer Shares Mixed Pre-Market

Top Consumer Shares:

WMT: -0.38%

MCD: flat

DIS: +0.23%

CVS: -1.15%

KO: flat

GE: +0.08%

Consumer shares were generally mixed in pre-market trading Thursday.

United Parcel Service ( UPS ) and FedEx Corp. ( FDX ) won licenses in China to expand domestic express package services to Beijing and other cities without the need for joint-venture partners, Reuters reported Thursday. The two companies have been awaiting approval to provide independent delivery of courier packages from businesses to consumers since 2009. Reuters noted consultancy firm Deloitte estimates China's delivery market could be worth around $46 billion in 2015, thanks to online shopping.

Kohl's ( KSS ) reported fiscal Q2 earnings that exceeded analysts' expectations while sales slipped to be slightly short of the Street's view. The operator of specialty department stores said earnings in the quarter ended Aug. 2 were $232 million, or $1.13 per diluted share, compared with $231 million, or $1.04 per share, a year earlier. EPS rose more than net income because the number of shares fell to 205 million from 222 million a year earlier. Analysts had expected EPS of $1.07. Sales edged down 1.1% to $4.24 billion, below the $4.3 billion consensus estimate.

Advance Auto Parts ( AAP ) shares gained over 3% in pre-bell trading after the automotive-aftermarket parts supplier reported better-than-expected Q2 results, with earnings and sales topping consensus estimates compiled by Capital IQ. AAP posted Q2 net income of $153.2 million, or $2.08 per diluted share, up from $117.7 million, or $1.60 per diluted share, in the prior-year period. Analysts were expecting comparable cash earnings per diluted share of $2.02.

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

FDX UPS KSS AAP

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More