4 Consumer Stock Stories Buzzing Along On Thursday
Toyota Motor Corp. (NYSE:TM): Closing price $124.77
Toyota intends to maintain steady prices on its Camry sedan, as it sees rising competition from Ford Motor Co. and Honda Motor Co., defending its position as the top-selling car in the United States. The Camry has been number-one for 12 years, and has seen its lead shrink in 2013, being outsold in April by Honda’s Accord and Nissan Motor Co.’s Altima in March. Domestic sales of the vehicle rose by 16 percent to 34,780 in July only after Toyota offered incentives that were four times bigger than those for Honda’s Accord, said Edmunds.com.
Starbucks Corp. (NASDAQ:SBUX): Closing price $71.90
The group Moms Demand Action for Gun Sense in America, forming part of an on-going campaign to pressure Starbucks to disallow guns from stores across the United States, will sponsor Skip Starbucks Saturday this Saturday, August 24. The boycott is in response to the ongoing armed rallies being held by gun advocates at Starbucks nationwide, as well as the frequent open carry of weapons inside Starbucks stores, which includes loaded assault weapons. The group’s national director of outreach Kim Russell said that ”Guns in places like Starbucks is intimidating and an unnecessary risk to our children and families – we are asking Starbucks to exercise its right to adopt a gun-free policy in its stores. Many moms don’t realize that in dozens of states, guns can be legally purchased and openly carried with no background check and no permitting or training. Gun advocates who bring their loaded guns into Starbucks have all the firepower of a SWAT team, but none of the required training.”
GameStop Corp. (NYSE:GME): Closing price $51.91
GameStop shares closed up just above 9 percent on the day, near a five-year high as the company posted second-quarter earnings at 9 cents per share, versus 4 cents that analysts anticipated. Revenue fell by 10.7 percent to $1.38 billion, but that still edged past the consensus of $1.36 billion. During the quarter, mobile sales grew by 121.4 percent to $55.1 million and digital receipts rose by 17.9 percent to $158 million. GameStop expects to earn between 50 and 55 cents per share, for the third quarter, far above the 36 cents analysts were positing. The company also estimates comparable store sales growing between 11 and 15 percent, while the Street was expecting them to contract by 3 percent.
Canadian Pacific Railway Ltd. (NYSE:CP): Closing price $121.99
The Canadian Transportation Agency has ordered that Canadian Pacific Railway Ltd. bring back its delivery of crude oil tankers and other rail cars to the Maine railway at the center of the Lac-Mégantic derailment, regardless of CP’s fears about “serious and alarming risks.” The Globe and Mail has obtained correspondence which indicates that the Agency ordered CP on Wednesday to reinstate its delivery of rail cars to Montreal, Maine and Atlantic Railway. The decision came subsequent to days of confidential and high stakes talks between the regulator and the two railway firms after CP refused last week to lift an embargo with MM&A that was initially set by the CTA.