Consumer Sector Update for 01/10/2018: HMNY,SHLD,SVU,SIG

Shutterstock photo

Top Consumer Stocks

WMT -0.65%

MCD +0.01%

DIS -0.51%

CVS -0.17%

KO -0.31%

Consumer stocks were solidly lower in late trade today, with shares of consumer staples companies in the S&P 500 sinking over 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were slipping almost 0.2%.

Among consumer stocks moving on news:

Helios and Matheson Analytics ( HMNY ) jolted over 38% higher on Wednesday, topping out at $9.90 a share, after CEO Ted Farnsworth told Yahoo Finance he "absolutely" would consider an initial coin offering for its majority-owned MoviePass unit and acknowledged the company has been talking with regulators and legal advisors about how to structure a crowdfunded deal using a cryptocurrency that stays within U.S. Securities and Exchange Commission rules.

In other sector news:

+ Sears Holdings ( SHLD ) climbed almost 5% at one point Wednesday after raising $100 mln in new financing and disclosing plans to find another $200 mln from other counterparties. The company also outlined more moves to streamline its operations and reduce its costs by around $200 mln during 2018 and amended its second-lien notes maturing Oct. 15 to increase its borrowing base advance rate for inventory.

- Signet Jewelers ( SIG ) declined after the retailer said its same-store sales fell 5.3% from year-ago levels during the nine weeks ended Dec. 30 while total sales dropped 3.1%. It also narrowed its FY18 earnings outlook, now expecting between $6.17 to $6.22 per share compared with its previous EPS range of $6.10 to $6.50. The Street is at $6.33 per share.

- SuperValu ( SVU ) dropped over 15% at one point on Wednesday after reporting a 31.3% sales increase over last year to $3.94 bln during the three months ended Dec. 2 but still trailing the Capial IQ consensus by around $60 mln. Non-GAAP net income rose to $0.61 per share, beating the analyst mean by $0.10 per share.

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: HMNY , SHLD , SIG , SVU

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?