Consumer Stocks Still Mixed Near Close; 58.Com Ending First Day on Public Market with 50% Rise

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Top Consumer Stocks

WMT +0.08%

MCD +0.47%

DIS +0.69%

CVS +0.39%

KO +0.32%

Consumer stocks are mixed with shares of consumer staples companies in the S&P 500 currently down about 0.2%. Shares of consumer discretionary firms in the S&P 500 are now up around 0.5%.

In company news, Chinese online marketplace 58.com Inc. ( WUBA ) is on track to finish its first day as a publicly traded company about 50% above where it started, with American depository shares up 52.3% at $26 apiece in late Thursday market action.

WUBA shares climbed as high as $27 each after the company earlier priced an initial public offering of 11 million ADS at $17.00 each, generating $187 million in gross proceeds. Underwriters also have 30-day options to buy up to 1.65 million additional ADS to cover possible overallotments.

Each ADS represents two class A ordinary shares of the company.

In other sector news,

(+) EXPE, Q3 adj. earnings of $1.43 per share top Capital IQ consensus by $0.07 per share. Revenue rises 16.9% over the same quarter last year to $1.4 bln, roughly in-line with analyst expectations for $1.38 bln.

(-) WTW, Suspends quarterly dividend, saying it expects Q4 revenue will fall by low double digits - matching analyst estimates looking for a 12% year over year drop. Q3 EPS beats by $0.24 per share. Revenue falls 8.5% to $393.9 mln, or $7.4 mln over Street.



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This article appears in: Investing , Commodities

Referenced Stocks: WUBA

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