Sector Update: Consumer Stocks Adding to Earlier Gains; Vapor Corp Snuffed Out After Posting Larger Q2 Net Loss, Less Revenue
Top Consumer Stocks
Consumer stocks were adding to earlier gains Thursday afternoon with shares of consumer staples companies in the S&P 500 climbing about 0.4%. Shares of consumer discretionary firms in the S&P 500 were ahead 0.8%.
In company news, Vapor Corp ( VPCO ) tumbled Thursday to its lowest share price in more than 14 months, falling below $3 a share for the first time since May 2013 after the e-cigarette maker reported a wider Q2 loss and lower revenue compared with year-ago levels, trailing expectations of the lone analyst now following the stock.
The company this morning posted a Q2 net loss of $1.1 million, or $0.06 per share, expanding on a $54,650 net loss during the same quarter last year and trailing the analyst estimate looking for a break-even quarter by the company.
Revenue declined 1.6% year over year to $6.1 million, lagging the analyst conclusion by around $1.9 million.
VPCO shares were down nearly 25% at $3.14 apiece in late trade, earlier Thursday slipping to a low of $2.84 a share. Over the past 12 months, the stock has retreated about 24.2% through yesterday's close.
In other sector news,
(+) ORLY, Authorizes additional $500 mln for stock buyback, increasing its share repurchase program to $4.5 bln over the next three years.
(-) NDLS, Q2 adjusted EPS of $0.12 trails Street view by $0.03 per share. Revenue rises 11.5% to $99.5 mln, lagging consensus by $3.46 mln. Lowers expected EPS growth to flat from prior guidance of 25%. Analysts looking for 18% growth this year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.