Top Consumer Stocks
Consumer stocks were ending with broad declines with shares of
consumer staples companies in the S&P 500 retreating just 0.1%
while shares of consumer discretionary firms in the S&P 500
were down 1.0% in late trade.
In company news, Qunar Ltd (
) hit a skid Monday after analysts at Macquarie today initiated
coverage of the online travel and display advertising website with
a Neutral rating and a price target of $30 a share.
The stock also may be feeling some pressure after a rival travel
website, Ctrip (
), said an internal probe uncovered 93 possible leaks of customer
data accessed using an unaffiliated website.
QUNR shares were down nearly 7% at $29.01 apiece, struggling on
several occasions to keep from falling below its intra-day low of
$28.32 a share. The stock has a 52-week range of $22.32 to $36.73 a
In other sector news,
(+) NUS, Chinese authorities conclude investigation into the
company's selling practices, fining the direct seller $540,000. Six
employees also fined $16,000 for unauthorized promotional
(-) TIF, Goldman Sachs removes the upscale jewelry retailer
removed the stock from its Conviction Buy list, saying sales and
profit growth is playing out slower than expected. Goldman also set
a $100 price target for TIF shares.
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