Top Consumer Stocks
The gap for consumer stocks continued to widen today, with shares of consumer staples companies in the S&P 500 sinking nearly 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing more than 1.4%.
In industry news:
Selected gaming stocks declined Tuesday after gaming revenue in the Chinese resort hub of Macau rose by just under 15% during December to 22.7 bln patacas, or about $2.8 bln, missing the median call in a Bloomberg survey expecting a 20% increase after gamblers took home greater-than-expected winnings. Shares of Las Vegas Sands ( LVS ), Wynn Resorts ( WYNN ) and MGM Resorts ( MGM ) all were moderately lower today.
Among consumer stocks moving on news:
Amazon.com ( AMZN ) advanced Tuesday after the online retailer reported shipping over 5 bln items through its Prime delivery service during 2017. More new paid members joined Prime last year than in any other year, the company said without providing specifics. It also said it fulfillment and shipping network grew by more than 30% in 2017, as measured by its square footage.
In other sector news:
+ Tata Motors ( TTM ) advanced after the carmaker reported a 52% increase in domestic commercial and passenger vehicle sales during December 2017. Separately, Tata selected Westport Fuel Systems (WPRT) to supply it with four- and six-cyclinder natural gas spark-ignited engines as part of efforts to meet new emission standards slated to take effect in April 2020.
- Rent-A-Center (RCII) slipped Tuesday after selecting former company president and chief operating officer and current board member Mitchell Fadel to be its new chief executive officer, effective immediately. He replaces Mark Speese, who is retiring.
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