Consumer Sector Update for 01/11/2019: GM,BUD,MTN

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Top Consumer Stocks

WMT -0.03%

MCD -0.17%

DIS -0.15%

CVS -0.70%

KO -0.02%

Consumer stocks were narrowly mixed lower in recent trade, with shares of consumer staples companies in the S&P 500 up fractionally, while shares of consumer discretionary firms in the S&P 500 were down less than 0.1%.

Among consumer stocks moving on news:

(+) General Motors Co ( GM ) raced 9% higher on Friday after the automaker offered an upbeat outlook, saying its FY18 earnings should come in ahead of forecasts and predicted even more growth in Y19, projecting net income this year in a range of $6.50 to $7 per share. The Street is expecting GM to earn $5.88 per share in FY19, according to Capital IQ.

In other sector news:

(+) Anheuser-Busch Inbev ( BUD ) was ahead nearly 4% on Friday after Bloomberg reported that it was mulling an initial public offering of its Asian business which could raise over $5 billion.

(-) Vail Resorts ( MTN ) dropped as much as 15% after the ski resorts company's CEO said North American guest visits during the pre-holiday period between Dec. 1 to Dec. 21 were "much lower than anticipated." The company also said full year earnings before interest, taxes, depreciation and amortization will be slightly below the low end of its prior forecast expecting at least $718 million in EBITDA.

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: GM , BUD , MTN

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