Top Consumer Stocks
Consumer stocks were mostly higher on Friday, with the shares of consumer staples companies in the S&P 500 rising over 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 were posting a more than 0.6% gain.
Among consumer stocks moving on news:
(-) Arcimoto (FUV) tumbled 16% on Friday after the maker of three-wheel electric vehicles priced a private placement of over 1.04 million of its common shares at $2.25 apiece, representing a 20.2% discount to its most recent closing price. Investors also received a warrant to buy an additional share at $2.83 for each share they purchased through the offering.
In other sector news:
(-) British American Tobacco (BTI) fell fractionally after the Federal Trade Commission said it has opened an inquiry into six e-cigarette companies, including BTI's RJ Reynolds Vapor indirect subsidiary, asking for their "sales, advertising and promotional practices" between 2015 to 2018. The companies have until Jan. 2 to turn over the data, according to reports.
(-) Ascena Retail Group (ASNA) slid about 1.6% after late Thursday reporting an adjusted net loss of $0.13 per share for its fiscal Q4 ended Aug. 3, expanding on a $0.01 per share loss during the same quarter last year. Analyst estimates were not available for comparison.
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