Consumer Sector Update for 06/16/2017: SQ,WFM,AMZN,CALM,KR


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Top Consumer Stocks

WMT -4.75%

MCD +0.41%

DIS -0.43%

CVS -3.95%

KO -0.11%

Consumer stocks - in particular, consumer staple stocks - gave up much of their sizable gains from earlier this week, with shares of consumer staples companies in the S&P 500 dropping more than 1.3% while shares of consumer discretionary firms in the S&P 500 were slipping nearly 0.3%.

In company news, e-commerce platform company Square Inc ( SQ ) fell over 2% on Friday to a session low of $23.31 following a downgrade to Neutral from Outperform by analysts at Credit Suisse today in a likely valuation move.

The analyst action follows Square last Thursday, June 8, reaching a best-ever $24.97 a share. The stock has risen 76% in value since the start of the year.

In other sector news,

(+) WFM, Agrees to $13.7 bln buyout offer from Amazon ( AMZN ), which will pay $42 in cash for each Whole Foods share, representing a 27% premium to Thursday's closing price.

(-) CALM, Cut to Sell from Neutral at Goldman Sachs, which also lowered its investment call today for Kroger ( KR ) to Neutral from Buy in another downgrade.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Business , Commodities
Referenced Symbols: SQ , AMZN , KR , WFM , CALM


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