Consumer stocks are lower today with shares of consumer staple
companies in the S&P 500 declining 0.3%. Shares of consumer
discretionary stocks in the S&P are slipping about 0.1%.
In company news, Mecox Lane Ltd (
) is up 56.5% at $6.95 a share, climbing as high as $7.58 in
unusually strong volume during today's session ahead of the Chinese
specialty retailer tomorrow afternoon reporting financial results
for its Q2 ended June 30.
No analyst estimates for the quarter were available for
comparison. MCOX posted a $0.29 per share net loss on $34.01
million in revenue during the year-ago period.
At last look, nearly 1.25 million MCOX shares have traded hands,
or slightly less than 14 times its three-month average for trading
volume, according to Thomson Reuters.
In other sector news,
(+) DOLE, Deutsche Bank AG, Bank of America and Bank of Nova
Scotia agree to supply a combined $1.15 billion in financing to
support CEO David Murdoch's buyout of the company.
(-) TSLA, Barron's article suggests the stock is likely headed
for significant volatility following its rapid price rise this
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