Top Consumer Stocks
WMT -0.87%
MCD +0.05%
DIS +0.16%
CVS +0.45%
KO -0.22%
Consumer stocks were trending lower in Tuesday trading, with the shares of consumer staples companies in the S&P 500 sinking nearly 0.3% this afternoon while the shares of consumer discretionary firms in the S&P 500 were dropping more than 0.2%.
Among consumer stocks moving on news,
(+) 500.com (WBAI) was over 1% higher after saying board chairman Xudong Chen has resigned and Zhengming Pan agreed to temporarily step down as CEO amid a probe into alleged illegal money transfers at the Chinese online sports lottery company following the arrest of one consultant and two former consultants to the company by Tokyo prosecutors. Chief technical officer Zhaofu Tian was named interim chief executive while Shengwu Wu was selected to replace Chen as board chairman.
In other sector news:
(+) Sonos (SONO) climbed nearly 3% after the consumer electronics company responded to social media backlash over its product trade-up and recycling programs by saying it believes it was not responsible to sell used products to new customers who may not understand the products can be as much as 10 years old and do not deliver “the Sonos experience they expected.”
(-) Walmart (WMT) slid about 1% this afternoon. Morgan Stanley late Monday raised its price target for the retail giant by $5 to $130 a share, citing rising e-commerce sales and improving fundamentals for its customers.
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