Top Consumer Stocks
Consumer stocks turned positive this afternoon, with shares of consumer staples companies in the S&P 500 rising 1.2% while shares of consumer discretionary firms in the S&P 500 were 1.2% higher at the close.
In company news, shares of bebe stores ( BEBE ) rose Friday after the apparel retailer said it was cutting another 50 jobs as well as authorizing a new, $5 million stock buyback program.
The company estimated the upcoming layoffs will result in around $1.5 million in charges against its current quarterly earnings while saving the company about $4.8 million annually.
BEBE shares were up almost 8% at $1.05 each in late trade, earlier topping out at $1.12 a share.
In other sector news,
(+) WYNN, Chinese authorities reportedly considering new economic support to revitalize Macau's casino industry.
(-) SMRT, Reports sluggish September sales, now expecting sales at stores open more than one year will post a percentage decline in the low single digits compared with a 5.9% increase in September 2014.
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