Consumer stocks were mostly higher with shares of consumer
staples companies in the S&P 500 advancing about 0.2% while
shares of consumer discretionary firms in the S&P 500 were up
In company news, Zep Inc (
) shares rose Tuesday after the chemicals and cleaning products
company reported adjusted Q2 net income topping analyst
The company reported a GAAP net loss of $682,000, or $0.03 per
share, during the three months ended Feb. 28, reversing a $2.79
million profit in the year-ago period. Excluding $0.12 per share in
one-time integration and legal costs, ZEP earned $0.09 per share,
topping the Capital IQ consensus by $0.01 per share.
Net sales declined 3.4% year over year to $157.8 million,
trailing analyst estimates for the period by around $1.33
ZEP shares were up more than 3% at $18.14 each in recent
trading, matching their session high. The stock has a 52-week range
of $12.64 to $21.34 a share, rising nearly 21% over the past
In other sector news,
(+) NKE, (+2.5%) Raised to Buy from Hold at Stifel Nicolaus,
citing a recent correction in the company's share price and its
(-) CMCSA, (-1.1%) 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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