Consumer Discretionary Sector Posting Strong Gains; Amazon Up 6% on Smartphone Speculation

By
A A A

Top Consumer Stocks

WMT +0.28%

MCD -0.02%

DIS +0.59%

CVS +0.63%

KO +0.28%

Consumer stocks were mostly higher in late trade Thursday afternoon with shares of consumer staples companies in the S&P 500 rising about 0.3%. Shares of consumer discretionary firms in the S&P 500 were up more than 0.6%.

In company news, Amazon ( AMZN ) shares were finishing with strong gains Thursday on continued speculation the online retailer will unveil a smartphone with 3D technology at a June 18 event planned by the company at its Seattle headquarters.

AMZN today sent out invitations to the event, offering no details other the time and place and only fueling more media and industry speculation. In an interview with Marketwatch, Enderle Group analyst Rob Enderle said he believes the upcoming smartphone will have a 3-D screen that "will allow you to basically have multiple virtual panels you can see into the device."

An Amazon spokeswoman declined comment when contacted by the news service.

AMZN shares were ahead just under 6% at $324.90 in late afternoon trade, earlier advancing to a session high of $327.94 a share. The stock has a 52-week range of $264.21 to $408.06 a share, rising 22.2% over the past 12 months.

In other sector news,

(+) VNCE, Q1 EPS of $0.04 beats by $0.03 per share. Revenue rises 32.4% year over year to $53.5 mln, topping the Capital IQ consensus by $4.73 mln. Raises FY15 EPS outlook by $0.03 to $0.88 to $0.92 a share, in-line with $0.88 Street view.

(-) RAD, Cuts FY15 EPS outlook by $0.01 to a new range of $0.30 to $0.40 per share, still in-line with $0.39 analyst consensus. Also said adjusted Q1 earnings will trail its $0.09 profit last year. Street is expecting $0.08 per share in Q1.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: AMZN

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

3 Defensive Fund Picks
3 Defensive Fund Picks              

Stocks

Referenced

Most Active by Volume

77,500,391
  • $76.07 ▲ 6.71%
37,347,755
  • $8.28 ▲ 7.81%
27,677,737
  • $35.735 ▲ 2.95%
26,911,203
  • $17.85 ▲ 0.39%
23,867,853
  • $35.615 ▼ 0.74%
22,858,634
  • $97.06 ▼ 0.13%
22,199,406
  • $76.47 ▼ 6.29%
20,444,607
  • $15.615 ▲ 0.61%
As of 7/24/2014, 12:29 PM