Top Consumer Stocks
Consumer stocks were broadly higher, with shares of consumer staples companies in the S&P 500 climbing nearly 0.8% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 1.4%.
Among consumer stocks moving on news:
(-) Macy’s (M) fell more than 2% on Tuesday after its Macy’s Retail Holdings subsidiary began a cash tender offer for up to $450 million of 15 series of its outstanding senior notes and debentures maturing between 2022 to 2043. The notes maturing over the next few years will have priority in the current tender offering ending Dec. 31 over the longer-dated notes, although the company won’t accept more than a combined $300 million of its 4.375% and 2.875% senior notes coming due in 2023.
In other sector news:
(+) Lands’ End (LE) rose more than 19% after the apparel retailer reported an $0.11 per share profit for its Q3 ended Oct. 31, up from $0.10 during the same quarter last year and beating the two-analyst mean by $0.02 per share. The company also raised its earnings outlook for the 12 months ending Jan. 31 to a new range of $0.55 to $0.64 per share, straddling the $0.56 per share Street view.
(+) J.C. Penney (JCP) climbed more than 1% after the department store retailer said it has regained compliance with New York Stock Exchange rule requiring listed companies to maintain a minimum share price of $1 or higher.
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