Top Consumer Stocks
Consumer stocks were broadly higher, with shares of consumer staples companies in the S&P 500 rising nearly 1.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 1.6%.
Among consumer stocks moving on news:
(+) JD.com (JD) climbed 12.5% on Tuesday after the Chinese e-commerce platform recorded better-than-expected Q2 financial results, supported by 20.8% growth in net product revenue and a 42% rise in net service revenue. Excluding one-time items, it earned RMB2.30 per American depository share, up from RMB0.33 per ADS during the year-ago period and crushing the Capital IQ consensus expecting RMB0.54 per ADS.
In other sector news:
(+) IAA (IAA) rallied Tuesday, at one point rising to within 4 cents of its 52-week high, after the salvage vehicle auction company beat Wall Street expectations with its Q2 net income and revenue. Excluding one-time items, it earned $0.44 per share, up from $0.41 per share during the same quarter last year and beating the Capital IQ consensus by $0.05 per share. Revenue grew 9.7% year over year to $366.4 million, also exceeding the $357.9 million analyst mean.
(-) Advance Auto Parts (AAP) fell 1.3% after the retailer missed the Wall Street consensus with its Q2 financial results and lowered its FY19 sales outlook. Excluding one-time items, it earned $2 per share, up from $1.97 per share during the same quarter last year but still trailing the Capital IQ consensus by $0.21 per share.
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