Top Consumer Stocks
WMT -0.58%
MCD -0.46%
DIS -0.44%
CVS -0.83%
KO -0.44%
Consumer stocks were declining this afternoon with shares of consumer staples companies in the S&P 500 down about 0.3%. Shares of consumer discretionary firms in the S&P 500 also slid about 0.3%.
In company news, Extended Stay America ( STAY ) was set to finish more than 4% lower Wednesday after the owner and operator of company-branded hotels announced plans for a secondary offering of 21 million paired shares.
The Blackstone Group ( BX ), Centerbridge Partners and Paulson & Co. each will sell 7 million of the paired shares, reducing their respective stakes by 12.5% to around 48.7 million paired units, according to the preliminary prospectus.
Each paired share consists of one share of STAY common stock and one Class B share of ESH Hospitality Inc.
STAY shares were down 4.5% at $22.66 each, earlier sliding to a session low of $22.50 a share.
In other sector news,
(+) ULTA, Q1 EPS of $0.77 beats by $0.03 per share. Revenue rises 22.5% year over year to $713.8 mln, topping consensus view by $13.86 mln. Sees Q2 revenue of $706 mln to $717 mln, exceeding estimates by at least $3 mln.
(-) UNFI, Narrows FY14 profit outlook to a new range of $2.47 to $2.50 per share, trailing consensus view by at least $0.01. Earns $0.73 per share in Q3, up from $0.64 per share last year and matching analyst estimates. Sales rise 13.3%.
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
