Top Consumer Stocks
Consumer stocks turned mixed this afternoon, with shares of consumer staples companies in the S&P 500 advancing almost 0.7% while shares of consumer discretionary firms in the S&P 500 were falling about 0.2%.
In company news, Comstock Homebuilding ( CHCI ) fell hard Friday after the company announced plans to execute a 1-for-7 reverse split of stock following Friday's regular session, with the stock trading post-split beginning on Monday morning.
The Nasdaq Stock Market in April warned Comstock it risked a delisting of its stock unless it could increase its share price above Nasdaq's $1 minimum share price.
CHCI shares were down almost 25% at 58 cents, earlier sliding to a low of 55 cents a share. Prior to Friday's decline, the stock already had dropped nearly 35% over the past 12 months.
In other sector news,
(+) CTAS, Q1 EPS of $0.93 beats by $0.03 per share. Revenue rises 8% from last year to $1.2 bln, edging out the $1.17 bln consensus. Raises FY15 earnings, revenue forecasts. Lowers FY16 earnings forecast below Street view.
(-) PIR, Q2 EPS of $0.04 misses by $0.03 per share. Revenue rises 2.7% to $429.9 mln but trails $435.04 mln consensus. Expects Q3 EPS of $0.10 to $0.14 vs $0.23 consensus. Lowers FY16 earnings guidance below Street view.
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