Consumer stocks were narrowly mixed late Monday, with shares of
consumer staples companies in the S&P 500 declining about 0.1%
while shares of consumer discretionary firms in the S&P 500
reversed small losses earlier Monday to trade 0.2% higher near the
In company news, J.C. Penny (
) shares advanced Monday amid strong options activity for the
department-store retailer, including a big jump for $8 calls
expiring May 30.
The $8 May calls (JCP140530C00008000) surged 67.4% to 77 cents
each, rising 27 cents. It is not certain whether the rally reflects
a bid to cover a covered call strategy or merely follows a rise for
JCP shares in equity trade, according to John Dobosz, a staff
writer at Forbes magazine.
JCP shares have seen wide swings this month, rising as much as
9.9% Monday and reaching $8.24 each, rebounding from an intra-day
low of $7.04 last Tuesday after pushing past $9 a share as recently
as April 7.
The stock was up nearly 9% at $8.17 a share in recent trade,
rising 67 cents. It has a 52-week range of $4.90 to $19.63 a share,
sliding 47% in value over the past 12 months.
In other sector news,
(+) HAS, Toymaker returns to Q1 profitability, carried by a 21%
rise in the sales of girls' toys. EPS of $0.24 per share beats
FactSet consensus by $0.14 per share. Revenue edged up 2% to $679.5
million, missing estimates by $10.6 mln.
(-) KMB, Trims early 3% decline after posting Q1 adjusted
earnings of $1.48 per share, beating Capital IQ consensus by $0.01.
Revenue fall 0.8% year over year to $5.28 bln, roughly in-line with
$5.32 bln consensus.
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