Sector Update: Consumer
Consumer stocks were ending higher Friday with shares of consumer staples companies in the S&P 500 adding about 0.6% as a group. Shares of consumer discretionary firms in the S&P 500 were up about 0.2%.
In company news, shares of Sears Holding Co. ( SHLD ) were higher shortly before the closing bell and the department store this afternoon refuting market rumors that customer accounts and records may have targeted by hackers.
But according to the company, it has found no evidence its systems were accessed by anyone outside of the company.
"There have been rumors and reports throughout the retail industry of security incidents at various retailers and we are actively reviewing our systems to determine if we have been a victim of a breach," SHLD said in a statement. "We have found no information based on our review of our systems to date indicating a breach."
Shares briefly gave away moderate gains this afternoon, falling a few cents under its break-even mark prior to the company issuing its statement. The stock was up 1.6% at $43.71 a share in late trade.
In other sector news,
(+) MELI, Reports Q4 net income of $0.93 per share, coming in $0.16 above the Capital IQ consensus. Revenue climbs 29.7% over the same quarter last year to $134.6 mln, exceeding the Street view by $1.72 mln. Raised to Buy from Sell at Stifel Nicholas.
(-) DECK, Q4 EPS of $4.04 beats by $0.25 per share. Revenue rises 19.2% to $736 mln, topping Street by $24.66 mln. Forecasts $0.16 per share net loss compared to $0.11 profit analysts expect. FY14 earnings, revenue also lag consensus. Jefferies cuts rating to Hold from Buy, also slashing its price target by 25% to $75 a share.
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