Markets

Sector Update: Consumer

Consumer stocks were moderately higher with shares of consumer staples companies in the S&P 500 adding about 0.2%. Shares of consumer discretionary firms in the S&P 500 were ahead about 0.4%.

In company news, LiveDeal ( LIVE ) shares spiked Wednesday after the restaurant-deal platform company announced more than a three-fold jump in Q2 revenue compared with year-ago levels.

The company today reported $2.67 million in revenue during the three months ended June 30, up 340% over the same quarter last year and crushing the Capital IQ consensus call by around $1.46 million.

It posted a $1.54 million quarterly net loss, or $0.11 per share, or nearly triple its $511,169 net loss last year and missing estimates by $0.03 per share. The company's cash position also grew by around 7.3% over the prior quarter to $10.3 million while gross margin fell to 11% from 64% during the previous quarter.

LIVE shares were up more than 17% at $4.53 apiece, earlier climbing to a session high of $4.90 a share. Over the past 52 week, the stock has traded within a range of 92 cents to $11.94 a share, rising over 290% over the last 12 months.

In other sector news,

(+) MYCC, Acquires Atlanta-based Sequoia Golf for $265 million, expanding its portfolio of private golf clubs by nearly 38% to 209, or nearly five times the size of its next largest competitor.

(-) SEAS, Falls to record low after reporting Q2 adjusted net income of $0.43 per share lagging the Capital IQ consensus by $0.17 per share. Revenue fell 1.5% to $405.2 mln, missing estimates by around $44.13 million. FY14 revenue forecast also trails Street.

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

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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.

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