Top Consumer Stocks
Consumer stocks were ending broadly mixed, with shares of consumer staples companies in the S&P 500 jumping out to a more than a 0.8% gain this afternoon while shares of consumer discretionary firms in the S&P 500 recorded a 0.2% decline.
In company news, Lions Gate Entertainment ( LGF.A ) was lower in late Tuesday trading, dropping over 3%, with the movie studio receiving little apparent help from a new regulatory filing showing FMR LCC, the parent company of Fidelity funds, has increased its stake in the company.
Fidelity has purchased almost 9.9 million shares of the film-maker’s stock since Dec. 31, 2016, ballooning its overall stake in the company to nearly 12.9 million shares through Sept. 30. On a percentage basis, the investment manager now has a 10.105% ownership interest.
In other sector news,
(+) UAL, Reports available seat miles rise 1.7% during September compared with year-ago levels while revenue passenger miles declined 1.6% last month. Consolidated load factor falls 2.7 points from September 2016.
(-) IZEA, Reports 2% rise in Q3 total bookings over last year to $7.9 mln while managed booking increase 12% to $6.7 mln. Reiterates FY17 outlook expecting between $29 mln to $30 mln, straddling the $29.29 mln Street consensus.
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