Midday Report: Sotheby's Posts Steep Loss; Stocks in Flux

Stocks were in flux as gains in the consumer space offset a selloff in energy.
Author:
Publish date:

Stocks were in flux as gains in the consumer space offset a selloff in energy. Krispy Kreme (KKD) led consumer staples after agreeing to become privately-held in a $1.35 billion deal. Tyson Foods (TSN) - Get Report climbed after beating second-quarter estimates and boosting its full-year outlook. The meat processor said it saved $80 million in its recent quarter as the cost of chicken feed fell. Sotheby's (BID) - Get Report had a rough quarter, reporting a steeper-than-expected loss. The auction house suffered a per-share loss nearly six times steeper than a year earlier, as net auction sales tumbled 35%. LendingClub (LC) - Get Report tumbled after its CEO resigned following a board investigation into an improper loan sale.