Markets

Consumer Sector Update for 11/14/2016: OBCI,HAR,SORL

Top Consumer Stocks

WMT -1.10%

MCD +3.48%

DIS +0.48%

CVS +1.50%

KO -0.12%

Consumer stocks were mixed this afternoon, with shares of consumer staples companies in the S&P 500 sinking about 0.3% while shares of consumer discretionary firms in the S&P 500 were recently climbing out to a nearly 0.5% gain.

In company news, Ocean Bio-Chem ( OBCI ) rallied to a 16-month high on Monday after the maker of cleaners and deodorizers today recorded significantly improved Q3 net income and revenue.

The company earned $0.17 per share during the three months ended Sept. 30, up from $0.03 per share during year-ago levels while revenue increased 13% over the same quarter last year to $12.2 million. No analyst estimates were available for comparison.

OBCI shares were up over 17% at $3.41 apiece in recent trading, easing somewhat from a prior advance to their best price since June 2015 at $3.94 a share.

In other sector news,

(+) HAR, (+25.4%) Agrees to $8 bln buyout offer from Samsung, which will pay $112 in cash for each HAR share, a 28% premium over Friday's closing price.

(-) SORL, (-9.3%) Q3 EPS of $0.17 beats Capital IQ consensus by $0.01 per share. Revenue rises 23% over year-ago levels to $61.9 mln, also exceeded the analyst mean by around $10.8 mln.

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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