“It’s a bit surprising they’re selling off as hard as they are. What you’re seeing is investors recalibrating expectations for the segment,” said Efraim Levy, equity analyst at S&P Capital IQ, which is positive on consumer discretionary. “A lot of company multiples have been rising to the higher end of the historical range.”
“Now that you’re seeing department stores and other retailers not performing so well, consumers are making purchases elsewhere,” he said. “There’s a revaluation going on in the sector.”
General Motors Company (NYSE:GM) was trading lower by -1.62% to $34.52. So far, around 1.47 million shares have changed hands in this session. After opening at $34.97, the stock hit as high as $35.17. However, it traded between $24.62 and $38.99 over the last twelve months. General Motors Company (NYSE:GM) commitment to employees serving in the National Guard and Reserve during a Veterans Day celebration Tuesday where the company was recognized by the U.S. Department of Defense for more than four decades of exemplary support. “General Motors is setting a high standard for all automobile manufacturers to follow by providing above and beyond support of veterans, many of whom currently serve in the Guard and Reserve,” said Tom Bullock, chief of employer outreach, DoD Office of Employer Support of the Guard and Reserve (ESGR).
HP Inc (NYSE:HPQ) was at $13.14, showing a -1.13% decrease. Around 1.73 million shares have been traded, versus an-average trading volume of 16.96 million shares. The company is now valued at around $23.63 billion. HP Inc (NYSE:HPQ) board of directors has declared a regular cash dividend of $0.124 per share on the company’s common stock, which is the company’s first regular dividend since the separation of Hewlett Packard Enterprise Company. The dividend, the first in the company’s fiscal year 2016, is payable on January 6, 2016, to stockholders of record as of the close of business on December 9, 2015. HP Inc. has approximately 1.8 billion shares of common stock outstanding.
LendingClub Corp (NYSE:LC) shares decline today, losing -1.95 per cent to $13.06. Around 987,324 shares changed hands so far in this session compared to an-average trading volume of 3.42 million shares. LendingClub Corp (NYSE:LC) released financial results for the third quarter ended September 30, 2015 and again raised its outlook for the remainder of the year.
Third Quarter 2015 Financial Highlights
Originations – Loan originations in the third quarter of 2015 were $2.24 billion, compared to $1.17 billion in the same period last year, an increase of 92% year-over-year. The Lending Club platform has now facilitated loans totaling over $13.4 billion since inception.
Operating Revenue – Operating revenue in the third quarter of 2015 was $115.1 million, compared to $56.5 million in the same period last year, an increase of 104% year-over-year. Operating revenue as a percent of originations, or revenue yield, was 5.15% in the third quarter, up from 4.85% in the prior year.