Top Consumer Stocks
Consumer stocks were broadly higher shortly before the closing bell, with shares of consumer staples companies in the S&P 500 increasing more than 1.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing almost 0.6%.
Among consumer stocks moving on news:
+ 58.com ( WUBA ) still was surging in late Thursday trading, at one point rising more than 14%, after the Chinese e-commerce platform reported sharply improved Q2 financial results, including non-GAAP net income of RMB5.45, or about $0.82, per share for the three months ended June 30 compared with an adjusted profit of RMB4.50 per share during the same quarter last year. Revenue rose to RMB3.43 billion from RMB2.59 billion last year and exceeded the top end of the company's guidance range expecting RMB3.20 billion in sales. Analyst estimates were not available.
In other sector news:
+ Walmart ( WMT ) was trading above $100 a share for the first time since Febrary, jumping more than 10% on Thursday after the retailer reported Q2 financial results exceeding Wall Street expectations and comparable sales that rose by the most in a decade.
+ Toyota ( TM ) was extending its Thursday advance, rising almost 1% in recent trading, following reports the automaker said it was expanding its manufacturing facility in Tianjin, China, in a bid to ramp up regional sales. The company is looking to produce an extra 120,000 vehicles yearly, or about 25% over its current capacity, and increase yearly sales in China to 2 million units. It also is planning to augment its sales networks and increasinly focus on electric car technologies, sources told Reuters.
+ The Walt Disney Co ( DIS ) was back on positive ground Thursday afternoon, rising less than 1% and reversing a small decline soon after the opening bell after the UK Takeovers panel said it will likely require the entertainment conglomerate to follow through with its previous acquisition offer of GBP14, or about $17.81, per share for the Sky pay-television group if its completes its purchase of TV and film assets from Twenty-First Century Fox (FOX,FOXA), which includes a 39% stake in Sky.
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