Consumer Sector Update for 05/03/2019: MELI,AMZN,BRK.A,BRK.B,POST

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Top Consumer Stocks

WMT +1.22%

MCD +1.31%

DIS +0.23%

CVS -0.59%

KO +0.89%

Consumer stocks were posting sizable gains, with shares of consumer staples companies in the S&P 500 climbing nearly 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead about 1.2%.

Among consumer stocks moving on news:

(+) MercadoLibre ( MELI ) was surging, rising 22%, after the Latin American e-commerce company late Thursday reported a surprise Q1 profit and revenue exceeding Wall Street estimates. It earned $0.13 per share, reversing a $0.29 per share net loss during the year-ago period, while revenue grew 92.9% to $473.8 million. The analyst mean had been looking for a $0.21 per share loss on $423.6 million in revenue.

In other sector news:

(+) Amazon.com ( AMZN ) was ahead over 3% after Berkshire Hathaway (BRK.A,BRK.B) chairman and CEO Warren Buffet late Thursday told CNBC that one of his investment managers, Todd Combs or Ted Weschler, had purchased the online retailer's stock for the first time during the first three months of 2019. Additional details of the investment will be available in about two weeks when Berkshire files its quarterly report on its US stock holdings.

(-) Post Holdings ( POST ) was sinking almost 6% on Friday after the breakfast cereals company reported a 12.5% sales decline during its Q2 ended March 31 compared with the same quarter last year, falling to $1.39 billion and trailing the Wall Street consensus of $1.42 billion.

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: MELI , AMZN , POST , BRK.A , BRK.B

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