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

Shutterstock photo

Top Consumer Stocks

WMT +0.43%

MCD +0.79%

DIS -0.68%

CVS -1.67%

KO +0.15%

Consumer stocks were moderately higher, with shares of consumer staples companies in the S&P 500 climbing 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead 0.5%.

Among consumer stocks moving on news:

(+) Nova Lifestyle ( NVFY ) rose 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.

In other sector news:

(+) Casey's General Stores ( CASY ) climbed 11.5% 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 22% 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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Business , Commodities
Referenced Symbols: NVFY , CASY , BYND

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?