Top Consumer Stocks
Consumer stocks were ending narrowly mixed, with shares of consumer staples companies in the S&P 500 adding less than 0.1% in value this afternoon while shares of consumer discretionary firms in the S&P 500 were declining nearly 0.1%.
In company news, Whole Foods Market ( WFM ) shares was edging higher Wednesday afternoon, trading in a tight range about 0.1% on either side of today’s break-even mark of $41.75 a share after this afternoon reporting fiscal Q3 net income that beat Wall Street estimates but also lagged year-ago comparisons.
Excluding one-time items, the company earned $0.36 per share during the three months ended July 2, exceeding the Capital IQ consensus by $0.03 per share but dropping a penny from the same quarter last year. Net sales rose 0.8% over the prior-year period to $3.73 billion, just topping the Street view by around $10 million.
Whole Foods today also said it is expecting the proposed acquisition of the company by Amazon.com sometime during the second half of the year, subject to approvals by regulators and Whole Foods shareholders in addition to other customary closing conditions.
In other sector news,
(+) IRBT, Reports surprise Q2 EPS of $0.27, beating Street view expecting a $0.29 per share net loss. Net sales of $183.1 mln top $174.7 mln consensus. Guides FY17 net income, sales above analyst means. Buys Robopolis for $141 mln in cash. Softbank reportedly takes a less than 5% stake in the company.
(-) FH, Prices $6.6 mln public offering of 6 mln shares at $1.10 each, a 19.1% discount to Tuesday’s closing price for the stock.
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.