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Consumer Sector Update for 10/27/2016: LANC,PCMI,GRPN

Top Consumer Stocks

WMT +0.24%

MCD -0.13%

DIS +0.54%

CVS -0.46%

KO -0.68%

Consumer stocks were sputtered on Thursday, with shares of consumer staples companies in the S&P 500 sinking about 0.5% while shares of consumer discretionary firms in the S&P 500 were dropping nearly 0.9%.

In company news, Lancaster Colony ( LANC ) was lower this afternoon, with shares of the foods company giving back an earlier climb to a record price after reporting fiscal Q1 net income exceeding analyst expectations.

Lancaster reported unadjusted net income of $1.22 per share during the three months ended Sept. 30 compared with a $1.01 per share profit a year ago, beating the Capital IQ consensus by $0.11 per share. Net sales were little changed from the same quarter last year at $291.4 million, trailing the $300.7 million consensus.

LANC shares were down about 3.5% at $130.58 each, reversing an opening advance that lifted the stock to a best-ever $138.31 a share.

In other sector news,

(+) PCMI, Reports preliminary adjusted Q3 net income of

(-) GRPN, Narrows adjusted FY16 EBITDA outlook to a new range of $150 mln to $165 mln. Also announces deal to acquire LivingSocial. Terms of the transaction, expected to close early next month, were not disclosed but company said purchase price was not material.

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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