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Consumer Sector Update for 07/12/2018: CMCSA,FOX,FOXA,SKY.L,ZUMZ,COST


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Top Consumer Stocks

WMT +0.35%

MCD +0.53%

DIS flat

CVS +0.03%

KO +0.20%

Consumer stocks were broadly mixed Thursday, with shares of consumer staples companies in the S&P 500 sinking over 0.3% in pre-market trading while shares of consumer discretionary firms in the S&P 500 were climbing more than 1.1%.

Among consumer stocks likely to move on news:

+ Comcast ( CMCSA ) rose fractionally in after-hours trading, late Wednesday climbing about 0.4%, after increasing its cash buyout offer for Sky plc (SKY.L) to GBP26.0 billion, or about $34 billion, and topping Twenty-First Century Fox's (FOX,FOXA) latest bid for the British pay TV company by roughly $1.5 billion, or about 4.6%. Fox held the upper hand in the lengthy fight over Sky for only around 12 hours, with the television and movie producer early Wednesday raising its offer for the 61% of Sky's outstanding stock it doesn't already own to GBP14.00 per share, or about GBP24.5 billon overall. Comcast last night said a special board committee of independent directors was recommending its sweetened offer to their fellow board members, with the same panel similarly siding with the Fox offer earlier in the day. The renewed bidding war comes just as the UK Secretary of State is slated to wrap up its review and issue a decision on the Fox acquisition proposal by the end of the week.

In other sector news:

- Zumiez ( ZUMZ ) slid almost 4% in Wednesday's late trading despite the apparel retailer reporting a 6% increase in total net sales during the five weeks ended July 7 to $76.5 million compared with $72.2 million in total sales during the year-ago period. Same-store sales climbed 2.7% during the same five-week period compared with a 5.3% increase during the year-ago period.

- Costco Wholesale ( COST ) dipped almost 1% late Wednesday after the warehouse retailer said its same-store sales grew 9.7% year-over-year while e-commerce comparable sales rose 27.9% over June 2017 levels. Excluding the impacts from changes in gasoline prices and foreign exchange, June comparable sales rose 6.9% and e-commerce comparable sales increased 27.7%. Net sales for the month were $13.55 billion, up 11.7% from the same month last year.

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: CMCSA , ZUMZ , COST , FOX , FOXA



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