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Consumer Sector Update for 04/23/2019: KSS,AMZN,HAS,PG


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Top Consumer Stocks

WMT +0.76%

MCD +0.77%

DIS +1.03%

CVS +2.20%

KO +1.91%

Consumer stocks were mixed, with shares of consumer staples companies in the S&P 500 slipping 0.3% this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing 1.3%.

Among consumer stocks moving on news:

(+) Kohl's ( KSS ) rose 11% on Tuesday after the department-store retailer announced a commercial agreement with Amazon.com ( AMZN ) and will accept unpackaged returns for customers of the online retail giant at all of its more than 1,150 stores in 48 states beginning in July. As part of the new agreement, Amazon received a warrant to buy up to 1.75 million Kohl's shares at $69.68 each, vesting in equal 349,489-share portions beginning Jan. 15, 2020, and continuing over the next four years on the same date. The warrants expire in April 2026.

In other sector news:

(+) Hasbro ( HAS ) climbed almost 15% after Tuesday reporting a surprise adjusted Q1 profit of $0.21 per share, improving on $0.10 per share during the same quarter last year and beating the Capital IQ consensus expecting the toy maker to report a $0.11 per share net loss for the three months ended March 31. Total revenue grew 2.3% year-over-year to $732.5 million, also exceeding the $666 million Street view.

(-) Procter & Gamble ( PG ) declined 3% on Tuesday. The consumer products gian t report ed fiscal Q3 net income and revenue exceeding Wall Street estimates and it also raised its FY19 financial outlook. Core earnings rose to $1.06 per share from $1.00 per share during the January-through-March reporting period last year and beat the Capital IQ consensus by $0.02 per share.

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: KSS , AMZN , HAS , PG



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