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Consumer Stocks Mostly Higher; Overstock.com Slumping After Q3 EPS Misses by $0.01
By: MT Newswires
Top Consumer Stocks
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. ( OSTK ) 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.