Top Consumer Stocks
Consumer stocks were broadly mixed, with the shares of consumer staples companies in the S&P 500 climbing nearly 0.8% this afternoon while the shares of consumer discretionary firms in the S&P 500 were slipping almost 0.1%.
Among consumer stocks moving on news:
(+) Allied Esports Entertainment (AESE) climbed almost 20% after saying Brookfield Property Partners (BPY) will invest $5 million in the gaming and entertainment company. Allied and the real estate arm of Canadian private equity investors Brookfield Asset Management (BAM) also will work together to develop dedicated e-sports venues at Brookfield's shopping mall properties.
In other sector news:
(+) Fluent (FLNT) soared 40% after the digital marketing firm late Tuesday said it expects Q4 revenue between $79.1 million to $80.1 million, easily topping the Capital IQ consensus expecting $64.38 million in revenue for the three months ended Dec. 31.
(-) Target (TGT) dropped 7.5% on Wednesday after saying it was lowering its forecast for Q4 sales growth at stores open more than 12 months following a disappointing holiday season. The discount retailer said comparable-store sales rose 1.4% during November and December, down from 5.7% during the same period last year. It now sees Q4 same-store sales growing 1.4%, down from its prior outlook expecting between 3% to 4% growth.
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