Consumer Sector Update for 06/20/2019: PIR,TPX,CCL,CUK

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Top Consumer Stocks

WMT +0.01%

MCD -0.05%

DIS -0.09%

CVS -2.67%

KO +0.72%

Consumer stocks were posting moderately gains, with shares of consumer staples companies in the S&P 500 climbing nearly 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 0.2%.

Among consumer stocks moving on news:

(-) Pier 1 Imports ( PIR ) was over 25% lower after earlier Thursday executing a 20-for-1 reverse stock split of its stock, reducing the number of outstanding shares for the retailer to around 4.2 million from 85 million shares prior to the reverse split. The company said the move was intended to boost the company's share price above the NYSE minimum of $1 a share.

In other sector news:

(+) Tempur Sealy International ( TPX ) climbed more than 1% after Wedbush raised its price target on the mattress company to $83 from $74 after it announced new distribution deals with Mattress Firm, Big Lots (LOTS) and Beter Bed earlier this week. Wedbush maintained its outperform rating and kept the company's stock on its best ideas list.

(-) Carnival Corp (CCL,CUK) dropped 9% on Thursday as the cruise ship operator lowered its FY19 profit outlook. Excluding one-time items, the company is expecting to earn between $4.25 to $4.35 per share during the 12 months ending Nov. 30, down from its prior guidance range looking for $4.35 to $4.55 per share. Analysts, on average, are expecting non-GAAP net income this year of $4.54 per 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: PIR , TPX , CCL , CUK

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