Consumer Sector Update for 10/19/2016: KORS,SHOP,TUP

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Top Consumer Stocks

WMT +0.19%

MCD +0.04%

DIS +0.98%

CVS -0.81%

KO +0.22%

Consumer stocks remain mixed shortly before Wednesday's closing bell, with shares of consumer staples companies in the S&P 500 falling about 0.5% while shares of consumer discretionary firms in the S&P 500 were posting a 0.5% gain.

In company news, Michael Kors ( KORS ) shares advanced Wednesday afternoon following reports the upscale fashion label is studying a $10 billion takeover offer.

Spanish financial news website reported the prospective buyout without naming the potential bidder or saying where it got the information.

KORS shares were up over 5% at $50.08 apiece just before today's closing bell, staying within close range of its $50.33 a share session high.

In other sector news,

(+) SHOP, Rosenblatt begins analyst coverage with a Buy recommendation and a $50 price target.

(-) TUP, Q3 revenue rises 0.2% over year-ago period to $521.8 mln, trailing Street view by $6.54 mln. Non-GAAP EPS of $0.87 beats by $0.07 per share. Sees adjusted Q4 earnings in a range of $1.32 to $1.42 per share, lagging Capital IQ consensus by at least $0.02 per share.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Business , Commodities
Referenced Symbols: KORS , SHOP , TUP

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