Top Consumer Stocks
Consumer stocks were adding to their earlier gains with shares
of consumer staples companies in the S&P 500 advancing about
0.4% while shares of consumer discretionary firms in the S&P
500 were up nearly 1.0% in late trade.
In company news, American depository shares of online
marketplace 58.com Inc (
) were up nearly 12% shortly before Tuesday's close after Tiger
Global Management reported buying over 2.2 million shares of the
company's stock, boosting its stake to around 6.5%.
Tiger Global and its affiliated fund now own 2.52 million WUBA
shares, up from around 300,000 shares at the end of 2013, according
to its latest 13F-HR filing.
WUBA shares were ahead 11.8% at $42.31 a share in late Tuesday
trading, earlier climbing to an intra-day high of $21.15 to $58.89
a share, rising 123% since pricing its initial public offering of
ADS at $17 each on Oct. 31.
In other sector news,
(+) NKE, Raised to Buy from Hold at Stifel Nicolaus, citing a
recent correction in the company's share price and its "standout"
(-) CMCSA, Tells Federal Communications Commission in documents
filed Tuesday its proposed merger with Time Warner Cable (
) would increase competition among high-speed Internet and cable
television providers. TWC shares also fall.
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