Top Consumer Stocks
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 (
) 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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