Top Consumer Stocks
Consumer stocks were mixed today, with shares of consumer staples companies in the S&P 500 climbing nearly 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were dropping nearly 0.6%.
Among consumer stocks moving on news:
Laureate Education ( LAUR ) shares rose Tuesday after the for-profit educator today reported a 2.4% increase in total enrollments at the end of Q4 to almost 1.07 mln, easing slightly ahead of its guidance from the end of Q3. New enrollments declined, however, falling 13.7% to 32,800 for the final three months of 2017 compared to the same period last year. Online and partnerships new enrollments dropped 900 students year-over-year while new enrollments at the company Walden Universtiy were down by 270 students, or about 4% compared with last year.
In other sector news:
+ bebe stores ( BEBE ) raced over 18% higher on Wednesday after asset managers B. Riley Financial ( RILY ) converted an existing loan into common stock and now owns a 29% interest in the apparel chain. The financial services company said the move provides bebe with a tax-efficient platform that can be leveraged for investing in profitable businesses. It also expects bebe to keep generating dividends following its purchase of cash-generating companies and using its net operating losses.
- Avis Budget Group ( CAR ) dropped over 10% to a session low of $44.11 a share after announcing an increase in its preliminary FY17 revenue to $8.85 bln, roughly in-line with the $8.8 bln Street view. The company today also approved a shareholder rights plan to fend off a prospective buyout offer from SRS Investment Management and preserving its "ability to evaluate and pursue all strategic actions."
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