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Consumer Sector Update for 10/17/2017: CARG,DEST,CAW


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Top Consumer Stocks

WMT +0.36%

MCD +0.58%

DIS +0.24%

CVS -0.23%

KO -0.50%

Consumer stocks were mixed this afternoon, with shares of consumer staples companies in the S&P 500 sliding about 0.4% lower while shares of consumer discretionary firms in the S&P 500 were climbing nearly 0.2%.

In company news, CarGurus ( CARG ) stalled during Tuesday trading, with shares of the online vehicle seller falling as much as 9% to a session low of $29.01 a share, after the company late Monday said underwriters participating in its recent initial public offering have exercised all of the available options to acquire additional stock, buying 1.41 million more shares and boosting gross proceeds for CarGurus to $195.5 million.

The company sold 10.81 million shares through the IPO, generating almost $173 million in gross proceeds, while CEO Langley Steinert sold another 3.39 million shares and Anastasios Parafestas - a CarGurus board member and the president of an investment advisory company - offered up another 2.37 million shares for sale.

In other sector news,

(+) DEST, (+16.6%) Said same-store sales for its ecommerce channel are up more than 50% over year-ago levels during Q3 following a 30.2% increase during Q2.

(-) CAW, (-0.3%) Q3 EPS of $0.05 was unchanged by the same quarter last year while revenue rises 5.8% over year-ago levels to $5.33 mln. No analyst estimates were available for comparison.

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 , DEST , CAW


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