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Retail stocks clipped on concerns over taxes and trade

Dec. 22, 2016 1:03 PM ETCasey's General Stores, Inc. (CASY) StockBy: Clark Schultz, SA News Editor20 Comments
  • Retail stocks are lower on a mix of news that includes the sharp drop in durable goods orders, soft earnings reports (Bed Bath & Beyond), cautious analyst notes and perhaps the biggest drag of all - talk of an import tax.
  • A new Trump wildcard also emerged when Carl Icahn was named as a special advisor to the new administration. Icahn is a critic of the trading of biofuel Renewable Identification Numbers (known as RINs). Retail chains that sell gas sometimes benefit from the RIN program.
  • Casey's General Stores (NASDAQ:CASY -2%), Alimentation Touche Card (OTCPK:ANCUF -1.5%), Murphy USA (MUSA -4.6%), Kroger (KR -0.5%), Sprouts Farmers Market (SFM -3.3%), Supervalu (SVU -3.5%), Ingles Markets (IMKTA -2.9%) and Weis Markets (WMK -1.5%) are all notably lower off the mix of news.
  • Wal-Mart (WMT -2.2%), Target (TGT -3.4%) and Dollar General (DG -3.7%) are also trading off.
  • Earlier: Specialty retailers roughed up on sales growth concerns
  • ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, IYC, FDIS, SCC, RCD, UCC, PMR, UGE, SZK, CNDF, FTXD, JHMC.

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