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Consumer Sector Update for 03/18/2019: NWL, CZR, ERI, LL


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Top Consumer Stocks

WMT +1.05%

MCD -0.63%

DIS -1.44%

CVS +1.81%

KO +0.56%

Consumer stocks were mostly higher, with shares of consumer staples companies in the S&P 500 climbing less than 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead nearly 0.7%.

Among consumer stocks moving on news:

(+) Newell Brands ( NWL ) climbed about 2.8% after Monday agreeing to sell its Process Solutions business to One Rock Capital Partners, with Newell to receive net proceeds of $500 million after taxes for the unit producing Sharpie markers and Elmer's glue as well as Graco children's car seats and Rubbermaid household products. The segment produced around $640 million in net sales during 2018, Newell said.

In other sector news:

(+) Caesars Entertainment ( CZR ) was 3% higher following a Reuters report that said the casino company was discussing a potential combination with Eldorado Resorts ( ERI ). Caesars so far has provided limited confidential financial information to its rival while it conducts its due diligence on the transaction, people familiar with the talks told Reuters.

(-) Lumber Liquidators ( LL ) dropped 7% after saying its total revenue rose to $268.9 million during its Q4 ended Dec. 31 compared with $259.9 million during the year-ago period and missed the $272.6 million analyst mean. The specialty retailer also said chief accounting officer Timothy Mulvaney will become chief financial officer on an interim basis, replacing Martin Agard, who is stepping down April 5 to accept a new position with another company in Florida.

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: NWL , CZR , ERI , LL




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