Top Consumer Stocks
Consumer stocks fell, with shares of consumer staples companies in the S&P 500 declining 1.1% while shares of consumer discretionary firms in the S&P 500 dropped 1.1%.
In company news, Kohl's ( KSS ) shares rose Friday afternoon, bouncing back from a sharp decline Thursday that followed the department-store retailer's posting below-consensus Q1 financial results as well as at least four analysts on Friday lowering their respective price targets for the company's stock.
Analysts at the Telsey Advisory Group reduced their price target by $11 to $44 a share while RBC Capital Mkts shaved $5 from its previous price target for Kohl's share price to $37 apiece. Also, Stifel pared its price target by $9 to $45 a share while MKM Partners trimmed its target by $5 to $39 a share.
Adjusted net income for the company was $0.31 a share, missing the $0.37 consensus estimate. Net sales at Kohls last quarter fell 3.7% from year-ago levels to $3.97 billion, also coming up short of estimates looking for $4.1 billion.
KSS shares climbed nearly 2% at $35.75 each, easing from a session high of $38.00 a share.
In other sector news,
(-) JWN, Adjusted Q1 EPS of $0.36 per share lags expectations by $0.09 per share. Revenue rises 2.5% to $3.19 bln, also missing $3.23 bln consensus. Lowers FY17 below Street view.
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