Top Consumer Stocks
Consumer stocks have turned lower Wednesday afternoon, with shares of consumer staples companies in the S&P 500 slipping almost 0.3% in recent trade while shares of consumer discretionary firms in the S&P 500 were declining less than 0.1% today.
In company news, magazine publisher Meredith Corp ( MDP ) was moderately higher in Wednesday mid-day trading after overnight raising its Q3 and FY17 earnings outlooks above Street views.
For the current quarter ending next Friday, March 31, the company is now expecting to earn between $0.85 to $0.87 per share, up from its prior forecast expecting per-share earnings of $8.75 to $0.80 and exceeding the Capital IQ consensus for the period by at least $0.07 per share.
It also sees net income for the 12 months ending in June reaching between $3.85 to 3.90 per share, improving on its previous guidance range of $3.50 to $3.80 per share and topping the analyst mean for the period by at least $0.16 per share.
MDP shares recently were up about 1.5% at $62.55 each after earlier climbing to a session high of $63.17 a share.
In other sector news,
(+) DLTH, (+12.7%) Reports Q4 EPS of $0.43 a share, up from $0.37 per share during the year-ago period and beating the Capital IQ consensus by $0.09 per share. Net sales rose 24% to $174.7 mln, also topping the $163.7 mln Street view. Guides FY17 sales above analyst mean; projected EPS this year in-line with Street.
(-) XELB, (-19.1%) Non-GAAP Q4 net income of $0.01 per share fall from $0.10 per share during year-ago period, also missing the lone analyst call expected a $0.02 per share adjusted profit. Revenue falls 8% year over year to $6.9 mln, also coming up $200,000 shy of single-analyst call.
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