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Consumer Sector Update for 06/07/2016: CALI,NAV,HOFT


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Top Consumer Stocks

WMT -0.14%

MCD +0.17%

DIS -0.06%

CVS +0.56%

KO -0.10%

Consumer stocks were hanging on to narrow gain late Tuesday, with shares of consumer staples companies in the S&P 500 advancing less than 0.1% while shares of consumer discretionary firms in the S&P 500 were ahead by around 0.3%.

In company news, China Auto Logistics Inc. ( CALI ) rallied Tuesday, with the Chinese auto dealer's U.S. traded stock climbing to a 26-month high after it sold its Zhonghe subsidiary to Wuxi Huitong Automobile Sales and Service Co. Ltd. for $62.3 million.

Zhonghe owns and operates the Airport International Auto Mall in Tianjin and also holds a 40% stake in the Tianjin Car King dealership. The transaction includes $25.8 million in cash with the remaining $36.5 million being paid by Huitong assuming the company's payment obligations to Zhonghe's former owner.

CALI American depository shares were up more than 131% at $2.43 apiece, earlier climbing to their highest price since March 2014 at $4.40 per ADS.

In other sector news,

(+) NAV, GAAP Q2 EPS of $0.05 per share beats Capital IQ consensus by $0.20 per share. Revenue falls 18.4% over last year to $2.2 bln, roughly in-line with $2.18 bln consensus.

(-) ESI, Falls to record low after U.S. Education Department reportedly asks whether for-profit educator has enough money to reimburse students in the the event of a sudden shutdown.

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

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This article appears in: Business , Commodities
Referenced Symbols: CALI , NAV , HOFT




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