Markets

Consumer Sector Update for 12/21/2015: LITB,PBY,CNV,CBD

Top Consumer Stocks

WMT +1.09%

MCD +0.70%

DIS -1.43%

CVS +0.92%

KO +0.45%

Consumer stocks turned mixed again just before the closing bell Monday, with shares of consumer staples companies in the S&P 500 advancing about 0.5%, and trading near their session highs while shares of consumer discretionary firms in the S&P 500 were slipping 0.1% lower.

In company news, American depository shares of LightInTheBox Holding Co ( LITB ) declined Monday after the online retailer of lighting products saw its Q3 net loss widen compared with the same quarter last year as revenue declined from year-ago levels.

Net loss for the three months ended Sept. 30 expanded to $8.6 million, or $0.18 per ADS, from its loss of $6.3 million and $0.13 per ADS last year. Excluding one-time items, it reported non-GAAP net income of $0.07 per ADS, reversing a to $0.10 per ADS loss during the prior-year period.

Net revenue fell 29.1% year over year to $70.2 million. Analyst estimates were not available for comparison.

LITB ADS were down over 22% at $3.24 apiece, matching their session low.

In other sector news,

(+) PBY, Carl Icahn raises buyout offer to $16.50 a share, or about $919 mln overall, giving rival suitor Bridgestone until Wednesday at 5 p.m. ET to respond.

(-) CNV, Companhia Brasileira de Distribuicao ( CBD ) hires legal advisors and external forensic accountants to review alleged employee misconduct and inventory mis-management at CNV.

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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