Sector Update: Consumer

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Consumer stocks were mostly higher Tuesday with shares of consumer staples companies in the S&P 500 climbing about 0.3% while shares of consumer discretionary firms in the S&P 500 were ahead more than 1.1% this afternoon.

In company news, Chinese on-line retailer JD.com ( JD ) rose to another all-time high in its short career as a publicly traded company after analysts at Jefferies today began coverage of the company's stock with a Buy rating and a $36 price target.

In a new research note, the Jefferies analysts cited JD's recent strategic partnership with Tencent Holdings Ltd ( TCTZF ) as well as the company's ability to grow and capture mobile sales.


JD shares were ahead about 4% at $29.66 each shortly before the closing bell Tuesday afternoon, earlier topping out at an all-time best of $31.20 a share. Since its May 22 debut on the Nasdaq Global Market, the stock has risen just over 50% % after pricing its initial public offering of stock at $19 per share through Monday's close.

In other sector news,

(+) NFLX, Raised to Buy from Neutral at Goldman Sachs.

(-) TTS, Names Kirk Geadelmann as its new chief financial officer, replacing Tim Clayton on Aug. 12 following a brief transition period.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: JD , TCTZF

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