Markets

Financial Sector Update for 10/02/2015: BEBE,WYNN,SMRT

Top Consumer Stocks

WMT +1.06%

MCD +1.04%

DIS +0.32%

CVS +2.12%

KO +1.46%

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BEBE

Other Topics

Commodities

Latest Markets Videos