Quantcast

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


Shutterstock photo

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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.





This article appears in: Business , Commodities
Referenced Symbols: MELI , VRA , LTM , PDD




More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?