Top Consumer Stocks
Consumer stocks were ending broadly mixed, with shares of consumer staples companies in the S&P 500 falling nearly 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead over 0.8%.
Among consumer stocks moving on news:
(-) Rent-A-Center ( RCII ) was slipping in late Wednesday trading after the specialty retailer said it was counter-suing Vintage Capital to recover a $126.5 million breakup fee attached to their scrapped merger proposal, Seeking Alpha reported. Vintage Capital sued Rent-A-Center late last month for backing out of the deal and saying the private-equity firm did not properly act to extend its offer.
In other sector news:
(+) XpresSpa Group ( XSPA ) surged as much as 33% higher on Wednesday after sleep and relaxation app Calm completed its $3 million strategic investment in the health and wellness company for the full amount. The preferred shares are convertible into XpresSpa common shares at $0.62 apiece.
(-) Sirius XM Holdings ( SIRI ) was down 5% in Wednesday trading after the satellite radio company said it expects about $6.1 billion in FY19 revenue, compared with the Street forecast looking for $6.07 billion.
(-) Constellation Brands ( STZ ) dropped almost 12% after the beer, wine, and spirits company issued FY19 earnings guidance trailing analyst estimates. It sees EPS on a comparable basis for the 12 months ending Feb. 28 in a range of $9.20 to $9.30 per share, lagging the Capital IQ consensus.
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