Consumer stocks were falling in recent trade, with shares of consumer staples companies in the S&P 500 dropping almost 0.3% this afternoon while shares of consumer discretionary firms in the S&P 500 were down more than 0.6%.
Among consumer stocks moving on news:
(-) HyreCar (HYRE) fell 10% after the car-sharing marketplace late Tuesday disclosed plans for a public offering of 3.5 million shares of its common stock. The company also will provide the sole book-running manager with a 30-day option to buy up to 525,000 additional shares to cover potential over-allotments, according to the preliminary prospectus.
In other sector news:
(+) Fransesca's Holding Corp (FRAN) was 19% higher this afternoon, easing from a 59% gain soon after Wedneday's opening bell, after a new regulatory filing showed funds affiliated with Cross River Capital Management recently purchased 586,000 of the apparel retailer's shares, paying slightly more than $6.53 million. Managing partner Richard Murphy also bought an additional 12,164 shares, boosting the private equity fund's total stake to 20.3%.
(-) Nu Skin Enterprises (NUS) dropped 16% after the personal care products company late Tuesday said it expects Q2 net income between $0.82 to $0.84 per share on revenue in a range of $622 million to $623 million, citing weakness in China. Analysts, on average, are looking for a $0.94 per share profit on $672.27 million in revenue.
Price: 3.07, Change: -0.33, Percent Change: -9.71
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