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Consumer Sector Update for 04/06/2018: DLTR,TSG,TSGI.TO,LUV,NEWM


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Top Consumer Stocks

WMT -1.38%

MCD -1.71%

DIS -1.80%

CVS -2.22%

KO -1.27%

Consumer stocks declined this afternoon, although shares of consumer staples companies in the S&P 500 still continued to outperform most other industry sectors, falling less than 1.0% while shares of consumer discretionary firms in the S&P 500 were dropping almost 2.0%.

Among consumer stocks moving on news:

-Dollar Tree ( DLTR ) see-sawed between moderate gains and losses on Friday, more recently sinking slightly more than 1% after the discount retailer late Thursday priced a $4 billion public offering of senior notes. The offering consisted of $750 million of senior floating rate notes due 2020 together with $1 billion each of 3.7% senior notes due 2023 and $1 4% senior notes due due 2025 along with $1.25 billion of 4.2% senior notes due 2028. The company expects to use net proceeds from the current offering to repay existing debt.

In other sector news:

- Southwest Airlines Company ( LUV ) had its wings clipped Friday, with shares of the discount airline falling almost 2%, despite reporting a 3.7% increase in revenue passenger miles during March, rising to 11.7 billion miles flown from 11.3 billion miles in March 2017. Available seat miles last month climbed 2.4% over year-ago levels to 13.8 billion miles. For Q1, revenue passenger miles grew 3.71% to 30.4 billion miles from 29.3 billion miles flown during the first three months of 2017. It also flew 37.4 available seat miles during Q1, rising 1.8% over year-ago levels while its Q1 load factor added 1.6 percentage points to 79.9% during Q1 2017.

- New Media Investment Group ( NEWM ) dropped nearly 8% on Friday after the newspaper publisher said it has priced a $99 million public offering of 6 million shares of its common stock at $16.50 a share, or a 4.3% discount to Thursday's closing price. Underwriters also received a 30-day option to buy another 900,000 shares. Net proceeds will fund general corporate activities.

- The Stars Group Inc. (TSG,TSGI.TO) was fractionally lower today, paring roughly half of a 1% decline soon after the opening bell that followed the video poker company saying it has increased its U.S. dollar- and Euro- denominated first lien term loans by $2.17 billion and EUR500 million, respectively. It also negotiated an extension for the loans until April 6, 2025, and reduced its interest cost by 50 basis points to LIBOR plus 3.00% and Euribor plus 3.25%, respectively. The company's revolving credit facility grew to $225 million from $100 million previously and was priced at LIBOR plus 2.75% with a new April 6, 2025, due date. The Stars Group used $95 million from the new term loans to fully repay its existing, higher-cost dollar-denominated term loan and also is expecting to use another $250 million to pay for its purchase of another 18% equity stake in Crownbet Holdings Pty Ltd and Crownbet's acquisition of William Hill Australia Holdings Pty Ltd.

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: DLTR , LUV , NEWM , TSG



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