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


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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.

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This article appears in: Business , Commodities
Referenced Symbols: HMNY , SHLD , SIG , SVU


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