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Consumer Sector Update for 01/27/2017: REVG,LRN,WKHS

Top Consumer Stocks

WMT -1.66%

MCD +0.89%

DIS +1.10%

CVS -2.13%

KO -0.76%

Consumer stocks struggled all day, with shares of consumer staples companies in the S&P 500 falling about 0.6% today while shares of consumer discretionary firms in the S&P 500 declined about 0.4%.

In company news, shares of the REV Group ( REVG ) climbed as much as 17% during their debut Friday on the New York Stock Exchange after the parts manufacturer for ambulances, fire trucks and other specialty vehicles last night priced a $225 million initial public offering of 12.5 million shares at $22 each, or at least $1 over the new stock's expected $19 to $21 range.

The company likely pocketed around $258 million from the IPO after paying underwriter discounts and other offering expenses. It expects to use around $192.1 million of the new funds to redeem its 8.50% senior secured notes and pay the related call premium. REV also may use up to $39.3 million to pay its asset-backed loan facility.

The stock quickly reached its session high of $25.81 a share this morning soon after opening at $24.50. Shares were up nearly 13% at $25.02 each just before today's closing bell.

In other sector news,

(+) LRN, Q2 EPS of $0.30 beats two-analyst estimate by $0.03 per share. Revenue climbs 5.9% to $221.1 mln, topping the $217.1 mln consensus but projected Q3 revenue of $210 mln to $220 mln, lagging Street by at least $10.01 mln.

(-) WKHS, Prices $19.5 mln public offering of 6.5 mln shares of common stock at $3 apiece, a 13.5% discount to Thursday's closing price.

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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