Consumer Cycling
By William Trent, CFA of Stock Market Beat
The Conference Board Consumer Confidence Index, which had increased moderately in June, posted another slight increase in July. The Index now stands at 106.5 (1985=100), up from 105.4 in June. Earnings reports have come in strong for the most part.
Watch List news:
Colgate-Palmolive Co. (CL), a maker of toothpaste, soaps and pet food, said its second-quarter profit slid 17 percent, as restructuring charges outweighed sales growth. Excluding restructuring charges, it had earnings of 74 cents per share, compared with 67 cents per share a year ago. Analysts polled by Thomson Financial expected the company to earn 72 cents per share, excluding one-time charges. Sales were $3.01 billion, up 6 percent from $2.84 billion a year ago and ahead of analysts’ consensus target of $2.96 billion. Unit volume rose 4 percent. Prices rose about 2 percent worldwide, while favorable foreign exchange boosted results slightly.
Singapore’s Asia Pacific Breweries, which makes Tiger beer, said Dutch brewer Heineken (HINKY.PK) has increased its direct equity stake marginally to 9.52 percent from 9.29 percent by buying shares on the stock market. Heineken, the world’s fourth-largest brewer by sales, is Asia Pacific Breweries’ biggest shareholder with a total 65.1 percent stake. The bulk of the shares are owned indirectly through an investment vehicle named Asia Pacific Investment. With America’s heartland also shifting to imported brews, it seems like a winning trend.
Playtex Products Q2 Non-GAAP EPS Rises, Tops Estimates; Reaffirms. Mr. Market liked it.
Strong sales lift Anheuser-Busch
Fortune Brands’ results buoy stock
Libbey Inc. (LBY) one of the largest glass tableware manufacturers in the world, announced a wider net loss compared to the prior year quarter.
Tempur-Pedic Reports Second Quarter EPS Up 25% to $0.30. BB&T maintained their buy rating. But Motley Fool doesn’t see the long-term future.
USANA Health Q2 EPS Rises On Improved Sales, Beats Estimates UST Reports Second Quarter 2006 Diluted EPS of $.83. This beat estimates and the company raised guidance. Fitch Raises Campbell’s Rating Outlook
http://stockmarketbeat.com/blog1/
The Conference Board Consumer Confidence Index, which had increased moderately in June, posted another slight increase in July. The Index now stands at 106.5 (1985=100), up from 105.4 in June. Earnings reports have come in strong for the most part.
Watch List news:
Colgate-Palmolive Co. (CL), a maker of toothpaste, soaps and pet food, said its second-quarter profit slid 17 percent, as restructuring charges outweighed sales growth. Excluding restructuring charges, it had earnings of 74 cents per share, compared with 67 cents per share a year ago. Analysts polled by Thomson Financial expected the company to earn 72 cents per share, excluding one-time charges. Sales were $3.01 billion, up 6 percent from $2.84 billion a year ago and ahead of analysts’ consensus target of $2.96 billion. Unit volume rose 4 percent. Prices rose about 2 percent worldwide, while favorable foreign exchange boosted results slightly.
Singapore’s Asia Pacific Breweries, which makes Tiger beer, said Dutch brewer Heineken (HINKY.PK) has increased its direct equity stake marginally to 9.52 percent from 9.29 percent by buying shares on the stock market. Heineken, the world’s fourth-largest brewer by sales, is Asia Pacific Breweries’ biggest shareholder with a total 65.1 percent stake. The bulk of the shares are owned indirectly through an investment vehicle named Asia Pacific Investment. With America’s heartland also shifting to imported brews, it seems like a winning trend.
Playtex Products Q2 Non-GAAP EPS Rises, Tops Estimates; Reaffirms. Mr. Market liked it.
Strong sales lift Anheuser-Busch
Fortune Brands’ results buoy stock
Libbey Inc. (LBY) one of the largest glass tableware manufacturers in the world, announced a wider net loss compared to the prior year quarter.
Tempur-Pedic Reports Second Quarter EPS Up 25% to $0.30. BB&T maintained their buy rating. But Motley Fool doesn’t see the long-term future.
USANA Health Q2 EPS Rises On Improved Sales, Beats Estimates UST Reports Second Quarter 2006 Diluted EPS of $.83. This beat estimates and the company raised guidance. Fitch Raises Campbell’s Rating Outlook
http://stockmarketbeat.com/blog1/
posted by douglas mcintyre at 9:19 AM
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