Top Consumer Stocks
Consumer stocks were mostly lower this afternoon, with shares of consumer staples companies in the S&P 500 declining about 0.3% while shares of consumer discretionary firms in the S&P 500 were posting a more than 0.1% decline.
In company news, AMC Entertainment ( AMC ) was slightly more than 1% higher shortly before Tuesday's closing bell after the movie theater chain today disclosed plans to its 50% ownership stake in Open Road Releasing to Tang Media Partners, pocketing one-half of the $28.8 million in total proceeds from the transaction.
AMC and Tang Media also have signed a separate marketing agreement for films released by Open Road after the sales process closes. Financial terms of that pact were not disclosed.
In other sector news,
(+) KORS, Fiscal Q1 EPS drops to $0.80 from $0.83 per share during the year-ago period but beating Street view by $0.18 per share. Net sales fall 3.6% from same quarter last year to $952.4 mln but also exceed the $919.2 mln analyst mean.
(-) CVGI, Q2 EPS of $0.08 lags Capital IQ consensus by $0.05 per share. Revenue climbs 9.5% to $195.1 mln, beating the $186.2 mln Wall Street call.
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