Consumer Sector Update for 03/29/2016: MKC,BWLD,CONN

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Top Consumer Stocks

WMT -0.09%

MCD +0.88%

DIS +0.05%

CVS +0.66%

KO +1.53%

Consumer stocks continued to add to their gains this afternoon, with shares of consumer staples companies in the S&P 500 climbing about 1.1% while shares of consumer discretionary firms in the S&P 500 were increasing 1.5%.

In company news, spice seller McCormick rose Tuesday after it beat analyst projections with its fiscal Q1 earnings and matched revenue expectations.

Excluding one-time items, the company earned $0.74 per share, beating the Capital IQ consensus by $0.05 per share. Revenue grew 2% over last year to $1.03 billion.

Its guidance for Q2 also was in-line with the Street view looking for a $0.74 per share adjusted profit.

MKC shares were up over 2% at $99.54 each just before the close.

In other sector news,

(+) BWLD, Investment rating raised to Outperform from Market Perform at Telsey Advisory Group, which also increased its price target for the stock by $10 to $175 a share.

(-) CONN, CEO Norman Miller tapped to succeed Theodore Wright as board chairman after Wright's current term ends in May. Wright previously stepped down as executive board chairman, becoming non-executive board chairman on Feb. 1.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Business , Commodities
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