Top Consumer Stocks
Consumer stocks still were mostly higher, with shares of consumer staples companies in the S&P 500 climbing more than 0.7% this afternoon although shares of consumer discretionary firms in the S&P 500 also were ahead just 0.2% shortly before Tuesday's closing bell.
Among consumer stocks moving on news:
(+) Conn's ( CONN ) was more than 3% higher in late trade, overcoming an early decline for furniture and appliance retailer after reporting non-GAAP net income of $0.96 per share for its Q4 ended Jan. 31, improving on a $0.56 per share adjusted profit during the same quarter last year and beating the Capital IQ consensus by $0.20 per share.
In other sector news:
(+) Bed Bath & Beyond ( BBBY ) raced 21% higher after the Wall Street Journal reported activist funds Legion Partners Asset Management, Macellum Advisors and Ancora Advisors were banding together to launch a proxy fight for control of the retailer at its upcoming annual meeting.
(+) Viacom (VIAB,VIA) was up 7% after the New York Post, citing sources, reported that the television producer and CBS ( CBS ) are working on resuming merger talks, one day after Viacom reached a carriage deal with AT&T ( T ). The settlement removed a key impediment that had kept CBS and Viacom from resuming negotiations, according to the Post.
(-) The Trade Desk ( TTD ) was falling 5% this afternoon. The advertising technology company Tuesday said it has officially launched its programmatic ad buying platform in China. The company began beta testing of the ad platform in late 2018, also forming partnerships with several Chinese digital media companies, including Baidu's (BIDU) exchange services, iQIYI (IQ) and Hong Kong-listed Tencent Holdings.
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