Consumer Sector Update for 05/13/2019: ATGE,ADT,JMIA,BUD

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Top Consumer Stocks

WMT -2.29%

MCD -0.45%

DIS -2.22%

CVS -2.68%

KO -0.60%

Consumer stocks were ending broadly lower, with shares of consumer staples companies in the S&P 500 slipping about 1.0% this afternoon while shares of consumer discretionary firms in the S&P 500 were sinking more than 2.9%.

Among consumer stocks moving on news:

(-) Adtalem Global Education ( ATGE ) fell over 3% Monday afternoon. The for-profit educator said it expects to grow revenue by 3% to 5% during its FY20 beginning July 1 over the current year period. It also sees its per-share earnings rising between 7% to 8% next year. Analysts currently are projecting a 12% profit increase during FY20 and a 5.5% year-over-year rise in revenue, according to Capital IQ.

In other sector news:

(+) Jumia Technologies ( JMIA ) was up 6.5% this afternoon, erasing a nearly 18% decline earlier Monday trade after the e-commerce company reported a Q1 net loss of EUR45.4 million, expanding on a EUR34.2 million loss during the same quarter last year and missing the Capital IQ consensus expecting a EUR37.1 million net loss. Revenue rose to EUR31.8 million from EUR28.3 million last year but also came up short of the EUR34.7 million analyst mean.

(-) ADT ( ADT ) was declined Monday, falling 6%, after a Morgan Stanley downgrade to equal-weight from overweight, citing a new study it commissioned showing more consumers are opting for do-it-yourself home security systems rather than professionally installed systems. The brokerage also pared its price target for ADT shares by $2 to $7 each.

(-) Anheuser-Busch InBev ( BUD ) was down about 2% after the European Commission fined the brewer EUR200.4 million, or about $225.1 million, for breaching European Union antitrust rules by hindering cheaper imports of its Jupiler beer from the Netherlands into Belgium.

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: ATGE , JMIA , ADT , BUD

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