Top Consumer Stocks
Consumer stocks were mostly higher, with shares of consumer staples companies in the S&P 500 gaining over 0.9% while shares of consumer discretionary firms in the S&P 500 were posting a 0.6% advance.
In company news, Tuniu Corp ( TOUR ) were lower this afternoon, giving back a 7% opening advance earlier this morning that followed the Chinese leisure travel service saying that HNA Tourism will invest $500 million into the company through the purchase of around 90.9 million Tuniu Class A ordinary shares at $5.50 apiece.
Each Tuniu American depository share is equal to three ordinary shares, making the deal worth $16.50 per ADS, or slightly more than 5% above Friday's closing price for the stock in U.S. trading.
The HNA Tourism Group is one of three strategic industrial conglomerates of HNA Group and will become Tuniu's largest individual shareholder, owning about 24.1% of its stock.
TOUR ADS were down about 1.3% at $15.51 each, backing down from an earlier run to $16.81 per ADS.
In other sector news,
(+) CPA, (+8.2%) Columbia-based regional airline for Latin America takes delivery of Boeing ( BA ) 737-800, the 100th aircraft in its fleet.
(-) GME, (-8.5%) Q3 EPS of $0.54 trails Capital IQ consensus by $0.05 per share. Revenue declines 3.6% to $2.02 bln, also lagging the $2.14 bln consensus. Projected Q4 EPS of $2.12 to $2.32 misses Street view expecting $2.37 per share. Lowers tops of comp-store sales by 1 percentage point to new range of 2% to 6%.
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