Top Consumer Stocks
Consumer stocks narrowly pared their earlier losses in Tuesday trade, with the shares of consumer staples companies in the S&P 500 falling nearly 0.2% this afternoon while the shares of consumer discretionary firms in the S&P 500 were falling almost 0.8%.
Among consumer stocks moving on news:
(+) 58.com (WUBA) climbed almost 13% after the Chinese online classifieds platform late Monday reported non-GAAP Q3 net income of $0.96 per American depository share, beating the Capital IQ consensus by $0.13 per ADS. Revenue increased 17.4% over year-ago levels to $602.0 million, also exceeding the $589.1 million analyst mean.
In other sector news:
(+) America's Car-Mart (CRMT) rose 10% after the used auto chain late Monday reported net income of $2 per share during its fiscal Q2 ended Oct. 31, improving on a $1.58 per share year-ago profit and exceeding the Capital IQ consensus by $0.19 per share. Revenue grew 13.8% year-over-year to $190 million, also beating the $173.5 million analyst mean.
(-) Performance Food Group Company (PFGC) dropped 2.5% after the frozen-foods company said it will be selling 9.2 million of its common shares through a forward-sale agreement with Credit Suisse, which is expected to borrow from third parties to buy those shares and then selling the stock to underwriters.
(-) Macy's Inc (M) fell nearly 11% on Tuesday after the department-store retailer reportedly said hackers obtained the names and passwords of about 0.5% of its customers from other sites and then used that information to gain access to their profiles on its macys.com and bloomingdales.com websites between April 26 to June 10. The hackers also may have gained access to customers' credit card numbers and expiration dates but not their four-digit security codes, which it does not store, the company told Fortune magazine.
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