Consumer stocks are mixed this afternoon, with shares of
consumer staples companies in the S&P 500 slipping about 0.2%
while shares of consumer discretionary firms in the S&P 500 now
are up about 0.5%.
In company news, Sorl Auto Parts (
) is up more than 32% at $3.51 a share after the usually lightly
traded company said it has hired MaloneBailey as its new accounting
The new firm takes over from EFP Rotenberg, which resigned in
July after it withdrew its Chinese auditing practice.
Shares hit a new 52-week high of $4.85 with volume ballooning
100 times over its normal daily trading volume of 15,178 shares
In other sector news,
(+) MELI, (+4.4%) Q2 earnings of $0.67 per share beats analyst
consensus by $0.02. Revenue rises 26.4% from same quarter last year
to $112.2 million, topping the Street view by $3.85 million. Gross
profit margin was 72.3%, down 0.9 percentage points year over
(-) WTW, (-17.7%) Reduces FY13 earnings outlook to $3.55 to
$3.70 per share from its prior guidance of $3.60-3.90. The Street
is at $3.70 per share. Q2 EPS tops estimates by $0.30, revenue also
beats. Promotes President and Chief Operating Officer James
Chambers to CEO.
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