Gains for JCPenney, Nordstrom Lifting Consumer Sectors to Friday Advance

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Top Consumer Stocks

WMT +0.18%

MCD +0.48%

DIS -0.26%

CVS +1.07%

KO +0.54%

Consumer stocks were higher shortly before the closing bell Friday afternoon with shares of consumer staples companies in the S&P 500 climbing about 0.4%. Shares of consumer discretionary firms in the S&P 500 were ahead almost 0.2%.

In company news, TrueCar Inc ( TRUE ) was cruising to a modest, first-day gain despite Friday pricing its initial public offering of stock below its expected range.

TRUE today priced its IPO of 7.8 million shares at $9 each, well under its expected range of $12 to $14 a share and generating around $71.1 million in gross proceeds.

The company provides vehicle price and other information for potential car-shoppers, also helping auto dealers find would-be buyers. The company reported a $25 million net loss last year with a 68% year over year rise in revenue to $134 million.

Shares opened today at $9.70 and climbed as high as $10.75 each for a 19.4% gain before easing to its current range around $10.09 a share, up 12.1%.

In other sector news,

(+) JWN, Shares climb to all-time high, also pacing gains for the S&P 500, after department-store retailer posts Q1 EPS of $0.72 beats by $0.04 per share. Revenue rose 6.8% to $2.84 bln, exceeding expectations by around $80 mln.

(-) EVRY, Reports Q1 net loss of $0.73 per share, excluding non-recurring items, trailing the Capital IQ consensus by $0.59. Revenue falls 4.6% year over year to $93.2 mln, lagging estimates by around $7.43 mln.



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This article appears in: Investing , Commodities

Referenced Stocks: TRUE

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