Top Consumer Stocks
Consumer stocks continued to add to their narrow gains from earlier today, with shares of consumer staples companies in the S&P 500 climbing less than 0.2% in value today while shares of consumer discretionary firms in the S&P 500 were advancing nearly 0.5%.
In company news, MercadoLibre ( MELI ) rose over 17% to reach a best-ever $274.97 a share on Friday after the Latin American e-commerce company reported better-than-expected financial results during the first three months of 2017.
The company earned $1.10 per share during its Q1, exceeding the Capital IQ consensus estimate of analyst by $0.35 per share. Revenue jumped 73.8% over year-ago levels to $273.9 million, also topping the $247.85 million consensus call. Gross merchandise volume increased 31% on a dollar basis and 61.4% on an FX-neutral basis over the year-ago period to $2.33 billion.
In other sector news,
(+) HOTR, Completes $6 mln private placement of debentures and share-purchase warrants. The company expects to use $5 mln of net proceeds to repay 12% Florida Mezzanine Financing notes, with remainder used for working capital, new store development.
(-) NCMI, Q1 net loss of $0.08 per share is $0.03 wider than the consensus estimate. Revenue falls 5.6% from last year to $71.9, also missing the $73.82 mln consensus. Projected FY17 revenue of $422.0 mln to $442.0 mln trails $457.88 mln consensus.
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