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Sector Update: Consumer Stocks Rising This Afternoon; Under Armour Over Performs With Q2 Results

Top Consumer Stocks

WMT -0.92%

MCD -0.01%

DIS +0.77%

CVS +0.67%

KO +0.20%

Consumer stocks were moderately higher this afternoon, with shares of consumer staples companies in the S&P 500 adding about 0.2%. Shares of consumer discretionary firms in the S&P 500 were ahead about 0.3%.

In company news, Under Armour ( UA ) rallied to a new record high Thursday after the sportswear company reported Q2 earnings and revenue exceeding analyst projections as well as raising its FY14 outlook.

UA earned $0.08 per share during the three months ended June 30, unchanged from year-ago levels and beating the Street view by $0.01 per share. Revenue grew 34.1% year over year to $609.7 million, topping consensus estimates by $35.3 million.

The company is now projecting 28% to 29% revenue growth to a range of $2.98 billion to $3.0 billion, up from its previous forecast of 24% to 25% growth and beating estimates by at least $50 million.

UA shares were up about 15.1% at $69.79 apiece, earlier rising to a new, all-time high of $70.25 a share. Over the past 12 months, the stock has climbed more than 125%.

In other sector news,

(+) SKX, (+8.9%) Q2 EPS of $0.68 beats consensus view by $0.28 per share. Revenue climbs 37.1% over the same quarter last year to $587.1 mln, beating estimates by $78.5 mln.

(-) LTM, (-9.8%) Q2 net income of $0.76 per share lags Capital IQ consensus by $0.05. Revenue rises 6.0% over year-ago levels to $326.56 mln, trailing estimates by $5.61 mln. Trims outlook for FY14 EPS by $0.05 and revenue by $10 mln from prior forecasts.

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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