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 (
) 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 (
) as well as the company's ability to grow and capture mobile
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
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
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