Top Consumer Stocks
Consumer stocks were narrowly mixed this afternoon, with shares
of consumer staples companies in the S&P 500 sliding 0.1% while
shares of consumer discretionary firms in the S&P 500 were up
In company news, Phillip Morris International (
) shares were snuffed out Thursday, with shares of the
cigarette-maker declining more than 2% after the company reported
Q1 net income and revenue trailing Wall Street expectations.
PM earned $1.88 billion during the three months ended March 31,
or $1.18 per share, down nearly 12% from $2.13 billion in net
income during the same quarter last year.
Excluding one-time items, the company recorded Q1 EPS of $1.19,
topping the FactSet consensus by $0.03 per share. Revenue,
excluding excise taxes, fell nearly 9% year over year to $6.9
billion, trailing the Street view by around $110 million.
PM shares were down 2.3% at $82.81 each in recent trade,
climbing back from an early slide as low as $82.12 a share, down
3.1%. The stock has a 52-week range of $75.28 to $96.73 a share,
declining 8.2% over the past year through Wednesday's close.
In other sector news,
(+) APP, (+0.7%) Receives letter from New York Stock Exchange
accepting the company's plan to regain compliance with NYSE listing
criteria over unspecified financial impairments.
(+) NKE, (+1.2%) Extends partnership with USA Track & Field
by 23 years through 2040 as well as significantly increasing
support of USATF programs, athletes and competitive groups. NKE and
the sports governing body have been partners since 1991.
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