Markets

Consumer Sector Update for 01/23/2017: WBAI,KATE,COH,KORS,PETS

Top Consumer Stocks

WMT -0.88%

MCD -0.77%

DIS -0.56%

CVS -0.23%

KO +0.35%

Consumer stocks were narrowly lower this afternoon, with shares of consumer staples companies in the S&P 500 slipping about 0.2% while shares of consumer discretionary firms in the S&P 500 were posting a 0.1% retreat.

In company news, shares of Chinese online operator 500.Com Ltd ( WBAI ) fell Monday after overnight saying Man San Law stepped down on Friday as board chairman and was replaced by Lian Qi.

Qi is co-president and a board member at Tsinghua Unigroup and also is the board chairman at Unisplendour Technology Holdings Ltd. He as working in various positions within Tsinghua since 1992, accumulating substantial experiences in management, investment and strategic planning, according to 500.com.

WBAI shares were down just over 3% at $13.51 apiece, recovering somewhat from a prior slide to a session low of $13.20 a share.

In other sector news,

(+) KATE, Reportedly drawing buyout interest from Coach Inc ( COH ), Michael Kors ( KORS ) and other luxury-brand companies as it pursues a sale, according to Bloomberg.

(-) PETS, Fiscal Q3 EPS of $0.24 meets Street view. Revenue rises 3.9% over year-ago levels to $52.9 mln, roughly in-line with the $52.7 mln consensus.

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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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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