Quantcast

Consumer Sector Update for 04/25/2018: GT,VIA,VIAB,WYNN


Shutterstock photo

Top Consumer Stocks

WMT +0.57%

MCD -1.00%

DIS +1.62%

CVS +0.96%

KO -2.21%

Consumer stocks were posting small gains, recovering slightly from Tuesday's steep losses as shares of consumer staples companies in the S&P 500 were climbing almost 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were rising more than 0.3%.

Among consumer stocks moving on news:

- Goodyear Tire & Rubber ( GT ) rolled to a 46-month low on Wednesday, falling nearly 6% to its lowest level since July 2014 at $25.28 a share, after the firm reported a 32.4% drop in its non-GAAP net income compared with year-ago levels and revenue during the three months ended March 31 just shy of analyst estimates. Excluding one-time items, the company earned $0.50 per share compared with a $0.74 per share adjusted profit during the same quarter last year but beating the Capital IQ consensus by $0.06 per share. Total revenue climbed to $3.83 billion from $3.70 billion last year, narrowly missing the Street view by around $30 million. Goodyear also reaffirmed its FY18 outlook for segment operating income excluding the TireHub transition in a range of $1.8 billion to $1.9 billion and growing to about $2.0 billion to $2.4 billion during FY20.

In other sector news:

+ Viacom (VIA,VIAB) Class B shares held a more than 1% gain on Wednesday after the television production company reported fiscal Q2 financial results topping analyst estimates. Excluding one-time items, the company earned $0.92 per share and beat the Capital IQ consensus expecting no change from its year-ago adjusted profit. Revenue fell 3% year-over-year to $3.15 billion but also exceeding the $3.04 billion Street view.

- Wynn Resorts ( WYNN ) declined Wednesday after the casino operator reported Q1 sales missing Wall Street expectations, upstaging better-than-expected earnings for the three months ended March 31. Reported sales jumped 20.5% over the year-ago period to $1.72 billion, trailing the Capital IQ consensus by $30 million. Excluding one-time items, it earned $2.30 per share, up from $1.28 per share last year and beating the analyst mean by $0.27 per share. Also weighing on the stock Wednesday was its GAAP net loss of $1.99 per share that reversed a $0.99 per share in net income during the same quarter last year largely due to a $463.6 million litigation settlement expense.

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: GT , WYNN , VIA , VIAB



More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?