Consumer Sector Update for 06/11/2019: INSE,NVFY,CASY,BYND

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Top Consumer Stocks

WMT +0.43%

MCD +0.74%

DIS -1.34%

CVS -1.93%

KO -0.18%

Consumer stocks still were moderately higher this afternoon, with shares of consumer staples companies in the S&P 500 climbing over 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead more than 0.4%.

Among consumer stocks moving on news:

(+) Inspired Entertainment ( INSE ) climbed nearly 3% on Tuesday after the British casino equipment company said it was acquiring the Novomatic Group's gaming technology unit for $120 million in cash. The proposed transaction is expected to be completed during the company's Q3 ending in September, subject to regulatory approvals and other customary closing conditions.

In other sector news:

(+) Nova Lifestyle ( NVFY ) rose over 10% after the home furnishings company said its board of directors has authorized a new stock buyback program for up to $2 million of its common shares. The share repurchase program began June 5, the company said.

(+) Casey's General Stores ( CASY ) climbed 10% on Tuesday after the convenience-store chain reported better-than-expected financial results for its Q4 ended April 30. Net income rose to $0.68 per share compared with $0.51 per share during the year-ago period and surpassing the Capital IQ consensus by $0.19 per share. Group revenue rose 4.3% year over year to $2.18 billion, also topping the $2.12 billion analyst mean.

(-) Beyond Meat ( BYND ) slid more than 24% following a JPMorgan downgrade to neutral from an overweight investment recommendation previously although the brokerage raised its price target for the plant-based meat substitute-maker by $1 to $121 a 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: INSE , NVFY , CASY , BYND

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