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Consumer Sector Update for 01/09/2018: TGT,HMNY,BABA,BBW


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WMT -0.92%

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CVS +0.05%

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Consumer stocks were posting small gains Tuesday, with shares of consumer staples companies in the S&P 500 adding less than 0.1% in value in afternoon trading while shares of consumer discretionary firms in the S&P 500 were climbing just over 0.1%.

In industry news:

Same-store sales rose 3.4% over year-ago levels during the week ended Jan. 5, slowing 1.6 percentage points from last week's 5% growth pace and marking the weakest reading for the Redbook survey of chain retailers since the week ended Dec. 9. The rise in month-to-date sales also slowed to just 0.1% compared with a 0.3% rate during early December. Experts said the weakening sales metrics during the first week of 2018 likely reflect cold weather persisting in large parts of the United States last week as well as consumers taking a break following a very strong December.

Among consumer stocks moving on news:

Target ( TGT ) climbed as much as 4% on Tuesday, reaching an intra-day high of $69.88 a share, after the discount retailer ramped up its Q4 and FY18 outlooks and reported better-than-expected holiday-season sales, supported by strength in its online sales. Comparable-store sales grew a combined 3.4% during November and December over the year-ago period, topping Target's forecast expecting between 0% to 2% growth. It also sees adjusted Q4 earnings in a range of $1.30 to $1.40 per share, up from its prior view expecting $1.05 to $1.25 per share and topping the Capital IQ consensus looking for $1.22 per share in adjusted Q4 net income. It also issued above-consensus FY18 profit guidance, projecting adjusted net income between $5.15 to $5.45 per share, beating the Street view by at least $0.79 per share.

In other sector news:

+ Shares of Helios and Matheson Analytics ( HMNY ) surged as much as 7% on Tuesday after the company disclosed in a regulatory filing that its MoviePass unit had more than 1.5 million paying subscribers through Jan. 7.

+ Alibaba Group ( BABA ) was trading moderately higher after company founder Jack Ma said he is "seriously considering" listing the company's stock on the Hong Kong exchange.

- Build-A-Bear Workshop ( BBW ) slumped after guiding its Q4, FY17 sales below analyst estimates.

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
Referenced Symbols: TGT , HMNY , BABA , BBW



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