Consumer Sector Update for 10/12/2017: CARG,SPAR,JILL

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Top Consumer Stocks

WMT +0.37%

MCD +0.35%

DIS -1.67%

CVS -0.28%

KO -0.05%

The gap between winning and losing consumer stocks kept widening this afternoon, with shares of consumer staples companies in the S&P 500 climbing about 0.4% while shares of consumer discretionary firms in the S&P 500 were falling over 0.7%.

In company news, CarGurus ( CARG ) was up more than 75% late in its public market debut Thursday after the online auto-seller late yesterday priced a $40 million initial public offering of 2.5 million shares at $16 apiece, a $1 premium over its expected $13 to $15 price range.

Early investors in the company also sold another 6.9 million shares as part of the IPO, pocketing around $110.4 million in gross proceeds. The company and the shareholders also issued 30-day options to underwriters to buy up to 1.4 million additional shares to cover potential overallotments.

In other sector news,

(+) SPAR, Climbs to a 10-year-high after announcing plans to reach $1 bln in sales by 2020 - representing a 12% compound yearly growth rate from $506.8 mln in 2014 - and also becoming the No. 1 or No. 2 company in each of its vehicle markets.

(-) JILL, Falls to a record low after all-time low after forecasting non-GAAP net income in a range of $0.08 to $0.10 per share, trailing the Capital IQ consensus by at least $0.09 per share. It also sees total company comparable sales for the quarter falling between 3% to 5% as well as a moderate decline in gross margin as compared to last year.

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: CARG , SPAR , JILL

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