Top Consumer Stocks
Consumer stocks were mixed in late-afternoon trade, with shares of consumer staples companies in the S&P 500 climbing nearly 0.4% and shares of consumer discretionary firms in the S&P 500 declining nearly 0.3%, more than halving their prior decline.
In company news, Steven Madden Ltd ( SHOO ) shares was trading back near their session high late in the Tuesday session after analysts at Citigroup today raised their investment rating for the women's footwear seller to Buy from Neutral, also maintaining a $40 price target.
In a new research note, the Citi analysts cited valuation and upside potential following Steven Madden's acquisition of Schwartz & Benjamin as well as the company's international expansion and an improving fashion cycle for the upgrade.
SHOO shares were up almost 5% at $35.23 each shortly before today's closing bell after recently topping out at $35.30 a share.
In other sector news,
(+) TLYS, Declares special cash dividend of $0.70 per share. Raises Q4 EPS guidance to $0.21 to $0.22 from prior range of $0.15 to $0.20 per share and topping Street view by at least $0.02 per share.
(-) UAA, Q4 EPS of $0.23 trails Street by $0.02 per share. Net sales rise 11.7% to $1.31 bln but still trail $1.41 bln consensus. Sees FY17 sales climbing 11% to 12% to $5.4 bln, well under the $6.06 bln mean.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.