Consumer stocks were mixed today with shares of consumer staples companies in the S&P 500 adding to their earlier gains, finishing with a 0.6% advance. Shares of consumer discretionary firms in the S&P 500 were down less than 0.1%.
In company news, Michael Kors Holdings Ltd ( KORS ) was moderately higher shortly before the closing bell Friday afternoon and analysts at Deutsche Bank today raising their price target for shares of the upscale handbag and accessories retailer by $5 to $110 a share.
The research shop left its Buy rating for the stock unchanged.
KORS shares were ahead 2.2% at $94.29 each in recent trade this afternoon, earlier topping out during the session at $95.19 a share. The stock has a 52-week range of $56.15 to $101.04 a share, climbing an even 50% over that span.
In other sector news,
(+) BIG, Q1 net income of $28.6 mln, or $0.50 per share, lags year-ago $40.3 mln profit but beats Capital IQ consensus by $0.06 per share. Net sales rise 1.1% to $1.3 bln, matching estimates. Guides Q2, FY14 EPS in-line with Street view.
(-) EXPR, Q1 net income of $0.06 per share lags Street view by $0.08. Revenue falls 9.6% year over year to $460.7, missing estimates by $2.9 mln. Projected Q2, FY15 per-share earnings both trail Capital IQ consensus.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
