Markets

Sector Update: Consumer

Consumer stocks were slightly higher Tuesday with shares of consumer staples companies in the S&P 500 adding about 0.1%. Shares of consumer discretionary firms in the S&P 500 were up about 0.2%.

In company news, Amazon.com ( AMZN ) shares were rising in mid-day trade after the online retailer late Monday confirmed its purchase of Twitch, a live-streaming service for videogame players, for $970 million.

The deal vaults AMZN into the fast-expanding video streaming business, gaining more muscle to compete with the likes of Netflix ( NFLX ) and Google's ( GOOG ) YouTube, According to network researcher DeepField, Twitch has been listed as the most popular Internet destination for watching and broadcasting videogame play and the fourth-largest source for U.S. Internet traffic.

AMZN shares were ahead about 2.6% in recent trade at $342.55 each, easing slightly from its $343.18 session high. The stock has traded within a 52-week range of $279.33 to $408.06 a share, climbing nearly 17% over the past 12 months.

In other sector news,

(+) DSW, (+9.1%) Adjusted Q2 EPS of $0.37 beats by $0.05 per share. Revenue rises 4.4% to $587.1 mln, topping Street view by $23.44 mln. Boosts FY15 earnings guidance by $0.05 over prior outlook to $1.57 to $1.72 per share, in-line with $1.53 per share consensus.

(-) MOV, (-7.4%) Q2 net income of $0.47 per share lags Street view by $0.07. Revenue rose 3.8% year over year to $143.6 mln, trailing the Capital IQ consensus by $9.31 mln. Projected FY15 EPS misses by at least $0.02; revenue outlook narrowly tops estimates.

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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