Shutterstock photo Top Consumer Stocks
Consumer stocks were broadly higher Wednesday, with shares of consumer staples companies in the S&P 500 racing to a nearly 1.1% advance in afternoon trading while shares of consumer discretionary firms in the S&P 500 were climbing almost 0.7%.
Among consumer stocks moving on news:
+ Lennar ( LEN ) was staying near its intra-day peak on Wednesday, climbing over 9%, after the homebuilder reported non-GAAP fiscal Q1 net income more than doubling last year's adjusted profit. Excluding one-time items, the company earned $1.11 per share during the three months ended Feb. 28 compared with $0.55 per share during the year-ago period and beat the Capital IQ consensus expecting $0.82 per share. Adjustments to earnings included $0.31 per share in costs related to the acquisition of CalAtlantic Group and a $0.27 per diluted share one-time, non-cash write-down of deferred tax assets following th..