Consumer Sector Update for 07/09/2019: GIS,ETSY,PEP,BJ

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Top Consumer Stocks

WMT -0.06%

MCD -0.17%

DIS +0.23%

CVS -1.09%

KO -0.90%

Consumer stocks still were broadly mixed this afternoon, with shares of consumer staples companies in the S&P 500 falling 0.8% in late trade while shares of consumer discretionary firms in the S&P 500 were hanging on for a 0.1% gain.

Among consumer stocks moving on news:

(-) General Mills ( GIS ) was fractionally lower Tuesday afternoon, roughly halving a 1.5% mid-day decline. The packaged food company earlier said it was working to drive top- and bottom-line growth with a focus on "innovation and brand building at the center of its agenda." During its yearly Investor Day presentation, the company also said improved performance by its North America retail segment along with strong growth by its pet segment was accelerating an increase in organic net sales.

In other sector news:

(+) Etsy ( ETSY ) climbed 4.5% on Tuesday after the e-commerce platform forecast a "modest upside" to its prior FY19 gross sales outlook after saying it plans to make free shipping a "core part" of its shopping experience. Starting July 30, customers spending $35 or more will have those goods delivered for free and the company also will give priority placement in its US search results to items that ship for free.

(-) Pepsico ( PEP ) slipped nearly 1% on Tuesday after the soft-drink bottler issued a FY19 earnings forecast lagging Wall Street expectations, upstaging better-than-expected Q2 results. Excluding one-time items, the company is projecting core net income of $5.50 per share for the 12 months ending Dec. 31, trailing the Capital IQ consensus by $0.03 per share, if comparable.

(-) BJ's Wholesale Club Holdings ( BJ ) fell 5.5% on Tuesday after a new regulatory filing showed company president and CEO Christopher Baldwin sold 63,200 shares of the warehouse retailer's stock through a series of transactions authorized under his Rule 10b5-1 program adopted last October. He exercised fully vested stock options to acquire 33,053 shares at $5.72 apiece and then sold them for nearly $674,000 in net proceeds. He also sold another 30,147 shares previously held through an irrevocable trust at an average of $25.99 apiece, generating another $783,500 in gross proceeds.

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This article appears in: Business , Commodities
Referenced Symbols: GIS , ETSY , PEP , BJ

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