Consumer Sector Update for 03/13/2019: MELI,VRA,LTM,PDD

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Top Consumer Stocks

WMT +0.58%

MCD +0.04%

DIS -0.48%

CVS +3.48%

KO +0.47%

Consumer stocks were ending mostly higher this afternoon, with shares of consumer staples companies in the S&P 500 climbing over 0.7% while shares of consumer discretionary firms in the S&P 500 were ahead almost 0.5%.

Among consumer stocks moving on news:

(+) MercadoLibre ( MELI ) rose over 6% to hit a new record high of $514.82 a share after the Spanish language e-commerce company Wednesday priced a $1 billion follow-on offering of 2.08 million shares of its common stock at $480 per share, or just 0.7% under Tuesday's closing price.

In other sector news:

(+) Vera Bradley ( VRA ) soared 21% after the women's accessories company reported net income of $0.25 for its fiscal Q4 ended Feb. 2, topping both the year-ago period and the Capital IQ consensus by $0.01 per share. Net revenue fell 10.5% year over year to $118.2 million but still exceeded the $116.3 million Street view.

(+) LATAM Airlines ( LTM ) rose 6% on Wednesday after the Chilean passenger carrier posted a 121% increase in Q4 net income compared with the final three months of 2017, climbing to $148.7 million to beat the Capital IQ consensus expecting a $134 million profit for the October-to-December period. Total revenue grew 0.8% year-over-year to $2.79 billion, also topping the $2.72 billion Street view.

(-) Pinduoduo ( PDD ) slumped Wednesday, falling 17%, after the Chinese e-commerce platform reported a Q4 net loss of $0.24 per American depositary share, missing the Capital IQ consensus expecting a $0.21 per ADS loss.

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: MELI , VRA , LTM , PDD

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