Top Consumer Stocks
Consumer stocks extended their small gains this afternoon, with shares of consumer staples companies in the S&P 500 climbing over 0.3% this afternoon while shares of consumer discretionary firms in the S&P 500 also were ahead more than 0.3%.
Among consumer stocks moving on news:
(+) eBay (EBAY) rose 5% after late Tuesday reporting Q1 net income and revenue exceeding analyst forecasts, prompting at least six brokerages to raise their price targets for the online auction house. Excluding one-time items, the company earned $0.67 per share during the three months ended March 31 on $2.64 billion in revenue. Analysts, on average, were looking for a $0.63 per share profit on $2.58 billion in revenue.
In other sector news:
(+) Burlington Stores (BURL) climbed 8% after the apparel retailer late Tuesday said Thomas Kingsbury will step down as CEO in mid-September and will be replaced former Ross Stores chief operating officer Michael 0'Sullivan, prompting at least three brokerages to raise their price targets for the company's stock.
(+) Domino's Pizza (DPZ) advanced Wednesday, rising 4.5%, after the restaurant company reported Q1 net income of $2.20 per share, up from $2.00 per share during the same quarter last year and beating the Capital IQ consensus by $0.10 per share.
(-) iRobot (IRBT) plunged over 22% after the automated consumer products company reported a 9.5% revenue increase during its Q1 ended March 30 compared with the year-ago period, rising to $237.7 million from $217.1 million last year but still lagging the $251.4 million analyst mean.
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