Sector Update: Consumer


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Consumer stocks were adding to earlier gains Monday with shares of consumer staples companies in the S&P 500 climbing 1.5% in late Monday trading. Shares of consumer discretionary firms in the S&P 500 were ahead 1.0%.

In company news, Vipshop Holdings Ltd ( VIPS ) was up more than 7% in late trade Monday after the online retailer was upgraded to Buy from Neutral at Goldman Sachs, citing compelling growth prospects and an attractive valuation.

In a new research note, analyst Weibo Hu forecast a 50% increase in Chinese market share over the next two years to 1.5% by 2016, with annual sales rising as high as $6 billion. Hu also sees significant margin growth for the firm.

VIPS American depository shares were ahead 7.3% at $148.00 each after earlier reaching $151.33 during today's session. The stock has a 52-week range of $23.26 to $182.00 per ADS.

In other sector news,

(+) BIG, Raised to Buy from Hold with a $45 price target at KeyBanc, which said the discount retailer was beginning to gain traction with its turnaround initiatives.

(-) SWY, Ends "go-shop" period, saying none of the other parties that previously expressed an interest now want to pursue a deal. Grocery chain will now move forward with the $7.64 bln buyout offer led by Cerberus Capital.

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

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

This article appears in: Investing , Commodities

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