Sector Update: Consumer
Consumer stocks were broadly higher today with shares of consumer staples companies in the S&P 500 adding about 1.0%. Shares of consumer discretionary firms in the S&P 500 were up nearly 0.7%.
In company news, Krispy Kreme Doughnuts ( KKD ) shares rose Monday after the retailer received an upgrade to Outperform from Neutral at Wedbush, which also set a $24 a share price target for the the stock.
KKD shares were ahead more than 7% in afternoon trade at $16.68 apiece, earlier advancing to a session high of $16.77 a share. The stock has traded within a 52-week range of $14.82 to $26.63 a share, declining nearly 22% over the past 12 months.
In other sector news,
(+) MFRM, (+14.3%) Predicts $0.58 to $0.61 per share Q2 profit, up from $0.43 in year-ago quarter and topping analyst forecasts by at least $0.09 per share. Sales seen rising 36% year over year to $410 mln, topping consensus by at least $25.34 mln.
(-) DF, (-6.2%) Withdraws FY14 EPS forecast, saying, "the balance of the year appears rocky." Also forecasts $0.05 to $0.15 per share Q3 net loss, compared with $0.24 per share profit expected by analysts.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.