Top Consumer Stocks
Consumer stocks turned narrowly higher in late trade, with shares of consumer staples companies in the S&P 500 climbing about 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were rising almost 0.2%, reversing a small mid-day decline.
Among consumer stocks moving on news:
(+) Match Group ( MTCH ) climbed more than 6% after the dating websites company said it was shuffling its management team as part of its new expansion in Asia. Junya Ishibashi, previously CEO of the company's Eureka business in Japan, is becoming the general manager of Match Group for Japan and Taiwan. The regional director of Tinder East Asia, Lyla Seo, has been named general manager of Match Group for South Korea and Southeast Asia while Taru Kapoor will remain general manager of Match Group India. All three will report to Alexandre Lubot, who is continuing as chief executive of Match Group Europe, Middle East and Africa and Asia-Pacific.
In other sector news:
(+) Adient ( ADNT ) rose just under 14% on Monday after the car seat manufacturer disclosed plans by its US subsidiary for a $750 million private placement of senior secured notes due 2026.
(-) Lyft ( LYFT ) dropped 6% after the ride-sharing company said it removed and will replace around 3,000 electric pedal-assist bicycles from its bike-sharing program in New York, Washington and San Francisco because of a "stronger than expected braking force on the front wheel."
(-) Vipshop Holdings Ltd ( VIPS ) fell almost 6% after disclosing in a new regulatory filing Monday that Bill Huang was stepping down as chief technology officer at the Chinese online discount retailer, effective Monday, and would be replaced by Daniel Kao, who held the same post at Vipshop between June 2012 to October 2016.
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