Consumer stocks are higher, with shares of consumer staples
companies in the S&P 500 adding 0.7%. Shares of consumer
discretionary firms in the S&P 500 are ahead 0.4%.
In company news, Overstock.com Inc. (
) is down more than 13% at $25.42 a share after the online retailer
reported Q3 earnings of $0.14 per share, trailing the Capital IQ
consensus by $0.01.
Revenue rose 18% year over year to $301.4 million, roughly
matching Street estimates.
Despite the mixed results, company management said they were
optimistic customers will continue to support its Club O business
due to its "generous loyalty program." OSTK also said it is opening
a new warehouse in Pennsylvania to provide faster delivery to its
customers on the East Coast.
In other sector news,
(+) SNA, (+2.0%) Q3 EPS of $1.43 beat by $0.02 per share.
Adjusted sales climb to $753.2 million, topping analyst
expectations by $10.2 million.
(-) PETM, (-1.0%) Top end of Q3 guidance range of $0.83 to $0.87
per share just reaches analyst consensus.
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