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Consumer Sector Update for 03/11/2019: YTRA,EBIX,AZUL,BABA,TSLA


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Top Consumer Stocks

WMT +0.84%

MCD +0.81%

DIS +0.98%

CVS +1.74%

KO +2.92%

Consumer stocks continued to add to their prior gains Monday, with shares of consumer staples companies in the S&P 500 climbing nearly 1.3% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 1.5%.

Among consumer stocks moving on news:

(+) Yatra Online ( YTRA ) jumped out to a 34% gain this afternoon after Ebix ( EBIX ) offered to pay $7 per share in cash for the corporate travel coordinator, representing an 84% premium over Yatra's closing price Friday afternoon.

In other sector news:

(+) Azul ( AZUL ) soared almost 8% higher after the Brazilian airline carrier announced its planned purchase of selected assets of Avianca Brasil out of bankruptcy for up to $105 million. Under terms of the non-binding proposal, Azul will acquire Avianca Brasil's operating certificate as well as around 70 airport slots and 30 Airbus A320 aircraft.

(+) Alibaba ( BABA ) was more than 3% higher following reports, citing a STO Express regulatory filing, the Chinese ecommerce platform is preparing to invest in STO Express, shelling out $693.3 million for a 49% stake in a new unit that will control 29.9% of the Shenzhen-listed parcel delivery firm.

(+) Tesla ( TSLA ) was hanging on to a nearly 2% gain in recent trading after the electric vehicle manufacturer Sunday said it will "keep significantly more stores open than previously announced" as the electric vehicle manufacturer continues to evaluate its retail locations over the next several months.

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: YTRA , EBIX , AZUL , BABA , TSLA



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