Consumer Stocks Still on Positive Ground

Consumer stocks were narrowly higher, with shares of consumer staples companies in the S&P 500 climbing about 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead up more than 0.1%.

Among consumer stocks moving on news:

(+) Monaker Group (MKGI) was unchanged again Friday afternoon, falling from an earlier 1% gain in low-volume. The travel e-commerce platform reported FY19 net income of $0.50 per share, reversing a $1.61 per share net loss during the prior 12-month period ended Feb. 28 and topping the single-analyst call expecting an $0.08 per share annual profit. Revenue increased over the previous year, rising to $505,000 from $431,000 during FY18.

In other sector news:

(-) The Meet Group (MEET) was fractionally lower in recent trade, recovering from an earlier 10% drop to a 13-month low of $3.05 a share. The social-chat platform Friday announced plans for a $30 million stock buyback program running through 2021.

(-) Barnes & Noble (BKS) fell about 2.5% after a Publisher’s Weekly report said the book-seller did not receive any additional takeover bids before the 11:59 p.m. ET deadline Thursday night under the “go-shop” provisions of Elliott Management’s $475.8 million buyout offer. Readerlink previously had been identified as a potential suitor but did not make a formal offer.

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