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Consumer Sector Update for 04/13/2018: SEAS,ALK,TSLA


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Top Consumer Stocks

WMT +0.83%

MCD +0.31%

DIS +0.16%

CVS -0.64%

KO +1.45%

Consumer stocks were mixed today, with shares of consumer staples companies in the S&P 500 showing a more than 0.4% gain this afternoon while shares of consumer discretionary firms in the S&P 500 were declining over 0.3%.

Among consumer stocks moving on news:

+ SeaWorld Entertainment ( SEAS ) was ahead almost 4% Friday afternoon, brushing back a small decline soon after the opening bell that followed it saying federal regulators have issued a so-called Wells notice recommending the theme-park chain be hit with a civil enforcement or an administrative proceeding over certain public statements it made in response to a documentary movie that criticized SeaWorld for its treatment of killer whales. The April 6 Wells notice is not a formal allegation or a finding of wrongdoing by the company, Seaworld said in a statement, adding it plans to formally respond soon to the inquiry and will continue to cooperate with the probe.

In other sector news:

+ Alaska Air Group ( ALK ) keeps banking higher on Friday, with the owner-operator of Alaska Air, Virgin America and Horizon Air reporting a 6.5% increase in revenue passenger miles during March along with a 7.2% increase in capacity compared with March 2017 levels. Its March load factor fell 0.5 percentage points to 84.9%.

+ Tesla ( TSLA ) climbed over 3% on Friday after CEO Elon Musk told the Economist magazine he expects the electric auto-maker will turn a profit during the second half of its current fiscal year. Musk also said in a Twitter message that the company will be cash-flow positive in Q3 and Q4, adding it won't need to raise additional money this year. His tweet followed an Economist Twitter post citing the Jefferies & Co. brokerage for the comment that Tesla will need to raise between $2.5 billion to $3 billion this year.

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: SEAS , ALK , TSLA



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