Consumer Stocks Narrowly Lower in Late Trade; Mecox Lane Leading Strong Day For Chinese ADRs

By Staff,

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Top Consumer Stocks,

WMT +0.34%

MCD -0.54%

DIS -1.44%

CVS +0.71%

KO -0.80%

Consumer stocks are lower today with shares of consumer staples companies in the S&P 500 declining 0.3%. Shares of consumer discretionary stocks in the S&P are slipping about 0.1%.

In company news, Mecox Lane Ltd ( MCOX ) is up 56.5% at $6.95 a share, climbing as high as $7.58 in unusually strong volume during today's session ahead of the Chinese specialty retailer tomorrow afternoon reporting financial results for its Q2 ended June 30.

No analyst estimates for the quarter were available for comparison. MCOX posted a $0.29 per share net loss on $34.01 million in revenue during the year-ago period.

At last look, nearly 1.25 million MCOX shares have traded hands, or slightly less than 14 times its three-month average for trading volume, according to Thomson Reuters.

In other sector news,

(+) DOLE, Deustche Bank AG, Bank of America and Bank of Nova Scotia agree to supply a combined $1.15 billion in financing to support CEO David Murdoch's buyout of the company.

(-) TSLA, Barron's article suggests the stock is likely headed for significant volatility following its rapid price rise this year.

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) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: MCOX

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