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Consumer Sector Update for 02/12/2019: CHGG,COTY,TAP


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Top Consumer Stocks

WMT +0.64%

MCD -0.03%

DIS +0.25%

CVS +2.68%

KO +0.14%

Consumer stocks were trading higher in recent trading, with shares of consumer staples companies in the S&P 500 climbing almost 1% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead nearly 1.6%.

Among consumer stocks moving on news:

(+) Chegg ( CHGG ) raced nearly 8% higher after the for-profit educator late Monday recorded Q4 financial results beating Wall Street expectations and it also forecast revenue for the current quarter exceeding analyst estimates. Excluding one-time items, the company earned $0.25 during the October-to-December quarter, up from $0.15 per share during the same quarter last year earlier and topping the Capital IQ consensus by $0.04 per share.

In other sector news:

(+) Coty ( COTY ) climbed over 14% after JAB Holding offered to acquire up to 60% of the luxury goods company's common stock, up to 150 million additional shares, for $11.65 apiece, representing a 20.6% premium to Monday's closing price.

(-) Molson Coors Brewing ( TAP ) slumped Tuesday, falling 9%, after the brewery company served up Q4 total sales of $2.42 billion, down 6.2% year over year from $2.58 billion last year and also narrowly missing the $2.53-billion Wall Street consensus.

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: CHGG , COTY , TAP




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