Top Consumer Stocks
Consumer stocks were drifting lower on Thursday, with the shares of consumer staples companies in the S&P 500 dropping nearly 0.5% this afternoon while the shares of consumer discretionary firms in the S&P 500 were off more than 0.2%.
Among consumer stocks moving on news:
(+) SeaChange International (SEAC) rose 11% after the advertising and video products company reported non-GAAP Q3 net income of $0.14 per share, reversing a $0.01 per share adjusted net loss during the year-ago period and beating the Capital IQ consensus by $0.09 per share. Revenue grew 10.2% compared with the same quarter last year, rising to $20.5 million, also beating the $18.8 million analyst mean.
In other sector news:
(+) RH (RH) was ahead 11% after the interior design retailer raised its FY20 earnings forecast for the fourth time this year, topping analyst estimates, while its Q3 financial results also breezed past Wall Street expectations. Excluding one-time items, it earned $2.79 per share on $677.5 million in net sales during the three months ended Oct. 31, beating the Capital IQ consensus by $0.54 per share and $1 million, respectively.
(-) Nio (NIO) declined 5% after the electric vehicle manufacturer overnight said it delivered 2,528 vehicles during November, or only two more vehicles compared with October levels.
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