Quantcast

Consumer Sector Update for 02/14/2018: ACCO,TAP,PEP


Shutterstock photo

Top Consumer Stocks

WMT +0.95%

MCD -0.64%

DIS +0.31%

CVS -0.51%

KO flat

Consumer stocks were broadly mixed Wednesday, with shares of consumer staples companies in the S&P 500 sinking about 0.2% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were climbing almost 1.1%.

In industry news:

Retail sales fell 0.3% during January while December sales were revised sharply lower, dropping 0.4 percentage points to no change over November sales, which also was trimmed by 0.1 percentage points to a 0.8% increase. Falling motor vehicle sales undercut all of the recent monthly totals. Building supplies also were weak, dropping 2.4% last month.

Among consumer stocks moving on news:

+ Acco Brands ( ACCO ) climbed almost 21% on Wednesday, touching an intra-day high of $13.45 a share after the office-supplies company reported non-GAAP Q4 net income and revenue exceeding expectations. Excluding one-time items, it earned $0.48 per share versus $0.32 per share during the same quarter last year and topping the Capital IQ consensus by $0.04 per share. Net sales rose 30% over year-ago levels to $566.8 million from $437.6 million last year, also beating the analyst mean by around $3.5 million. Looking to FY18, Acco is modelling adjusted per-share earnings of between $1.33 to $1.37 on about 2% sales growth. Analysts, on average, are expecting the company to generate adjusted net income of $1.15 per share and a 1.4% rise in sales this year to around $1.97 billion.

In other sector news:

+ Molson Coors Brewing Company ( TAP ) was climbing almost 4% higher during recent Wednesday trading after the brewery company reported Q4 adjusted net income of $0.62 per share, topping the Capital IQ consensus by $0.05 per share. Revenue grew to $2.58 billion from $2.47 billion during the same quarter last year but missed the analyst consensus expecting $2.60 billion in revenue.

- PepsiCo ( PEP ) retreated Wednesday after analysts at Evercore ISI lowered their investment recommendation for the soft-drink bottler to In-Line from Outperform previously.

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: ACCO , TAP , PEP


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities








Research Brokers before you trade

Want to trade FX?