Top Consumer Stocks
Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 falling fractionally this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing almost 1%.
Among consumer stocks moving on news:
(-) Tailored Brands (TLRD) declined 6% on Thursday after the men's apparel company projected non-GAAP earnings for its current quarter ending in late July lagging Wall Street expectations. The company is looking for Q2 net income in a range of $0.65 to $0.70 per share, excluding one-time items, missing the Capital IQ consensus by at least $0.26 per share.
In other sector news:
(+) RH (RH) raced 17% higher after the home furnishings retailer late Wednesday reported fiscal Q1 results exceeding Wall Street expectations and also raised its fiscal 2019 outlook. Excluding one-time items, it earned $1.85 per share during the three months ended May 4 on $598.4 million in net sales, beating the Capital IQ consensus by $0.32 per share and $14.7 million, respectively.
(-) Laureate Education (LAUR) slid over 3% on Thursday after the for-profit educator said it priced a secondary offering of 10 million shares of its common stock previously owned by Wengen Alberta LP but did not provide the offering price or say how much its controlling shareholder received in gross proceeds.
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