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PII

Consumer Sector Update for 09/12/2016: SALE,P,PII

Top Consumer Stocks

WMT +2.16%

MCD +0.98%

DIS +0.92%

CVS +0.57%

KO +1.63%

Consumer stocks were extending their big gains on Monday, with shares of consumer staples companies in the S&P 500 climbing nearly 1.4% while shares of consumer discretionary firms in the S&P 500 were advancing over 1.0%.

In company news, RetailMeNot Inc ( SALE ) shares retreated Monday after analysts at Morgan Stanley today reduced their investment call for the online retail platform to Underweight from Equal-Weight, while maintaining their $8.60 price target for the stock.

In a new research note, analyst Brian Nowak wrote that he believes the company beat significantly reduced expectations with it reported Q2 revenue last month while its core revenue was little changed from prior-year levels that were down about 10% from the same quarter in 2014.

SALE shares were down almost 9% at $10.49 apiece, earlier sinking to a session low of $10.28 a share.

In other sector news,

(+) P, (+4.5%) Raised to Buy from Neutral at SunTrust.

(-) PII, (-5.7%) Lowers FY16 guidance, now forecasting EPS in a range of $3.30 to $3.80 from prior outlook expecting $6.00 to $6.30 per share this year and trailing Street view by $2.21 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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