Consumer Sector Update for 08/28/2017: EHIC,PERF,GCO

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Top Consumer Stocks

WMT -0.78%

MCD +0.48%

DIS +0.16%

CVS +0.11%

KO -0.31%

Consumer stocks have turned mixed shortly before Monday's closing bell, with shares of consumer staples companies in the S&P 500 still dropping almost 0.3% although shares of consumer discretionary firms in the S&P 500 have reversed their prior slide and were more recently climbing about 0.1%.

In company news, eHi Car Services ( EHIC ) was hanging on to a moderate gain late in Monday trading after the Chinese car rental company earlier reported a big jump in Q2 earnings as revenue grew over year-ago levels.

Excluding one-time items, net income surged to RMB0.44 per American depository share from RMB0.01 per ADS during the year-ago period and beating the single-analyst call expecting non-GAAP earnings of RMB0.33 per ADS. Revenue rose to RMB639.7 million from RMB501.3 million last year but fell short of the RMB649.1 million two-analysts estimates.

For Q3, eHi said it expects revenue in a range of RMB780 million and RMB800 million, in-line with the RMB800 million single-analyst estimate.

In other sector news,

(+) PERF, Files voluntary petition for Chapter 11 bankruptcy protection in Delaware as part of a recapitalization and pre-packaged reorganization of the perfume and fragrances company.

(-) GCO, Susquehanna cuts investment rating to Neutral fro Positive.

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: EHIC , GCO

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