Consumer Stocks Outperform Most Other Sectors

Consumer stocks still were mostly higher in afternoon trade, with shares of consumer staples companies in the S&P 500 climbing nearly 0.3% this afternoon while shares of consumer discretionary firms in the S&P 500 were posting a more than 0.5% gain.

In company news, Peak Resorts (SKIS) enjoyed a boost Wednesday, with shares today climbing over 5% to a session high of $4.42 each after it said Christopher Bub yesterday took over as chief financial officer at the ski resorts company.

Bub has worked at Peak Resorts in various roles since 2015, working closely with former CFO Stephen Mueller, who will retain his board seat and who will also assist the company during the transition as well as on special projects and growth initiatives.

Separately, the company today also declared a quarterly cash dividend of $0.07 per share, payable Nov. 10 to shareholders of record on Oct. 26. The payment marks the third quarterly dividend since the company reinstated its distribution to shareholders in February.

In other sector news,

(+) PICO, Sells its 2.4-mln-share stake in Century Communities (CCS) for about $59.2 mln in net proceeds.

(-) ODP, Sees Q3 sales falling 7% to 8% from year-ago levels to a range of $2.61 bln to $2.75 bln, straddling the $2.63 bln analyst mean. Trims non-GAAP FY17 operating income forecast to $400 mln to $425 mln from $500 mln previously. Buys CompuCom Systems from TH Lee Partners for $1 bln in cash, stock and repaid debt.

Leave a Comment