Consumer Sector Update for 07/18/2019: NYT,MDP,EBAY,GPC,NFLX

Shutterstock photo

Top Consumer Stocks

WMT -0.10%

MCD +0.71%

DIS -0.83%

CVS +0.42%

KO -0.25%

Consumer stocks were ending broadly mixed, with shares of consumer staples companies in the S&P 500 climbing nearly 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 were falling almost 0.2%.

Among consumer stocks moving on news:

(-) The New York Times Company ( NYT ) was fractionally lower in late Thursday trading, easing from a 1.6% gain soon after the opening bell. The newspaper publisher and Meredith Corp ( MDP ) announced plans to offer a series of Times-branded special edition publications beginning with their "Summer of '69" issue next week. The commemorative magazines are the Times' first standalone publication on newsstands and will cover five other historical events or cultural subjects.

In other sector news:

(+) eBay ( EBAY ) was 2% higher in late trade after the online auction house raised its FY19 profit forecast for the second quarter in a row after reporting above-consensus Q2 financial results. It earned $0.68 per share, excluding one-time items, on $2.69 billion in revenue during the three months ended June 30 compared with the analyst mean expecting non-GAAP Q2 net income of $0.62 per share on $2.67 billion in revenue.

(-) Genuine Parts Co. ( GPC ) declined over 4% on Thursday after the auto parts distributor reported earnings of $1.57 per share during its Q2 ended June 30, excluding one-time items, on $4.9 billion in sales. Analysts, on average, had been expecting adjusted Q2 net income of $1.65 per share on $5 million in sales.

(-) Netflix ( NFLX ) fell more than 11% on Thursday after the streaming video service reported a 29.4% decline in Q2 net income compared with the year-ago period, dropping to $0.60 per share from $0.85 per share last year. Net additions grew by 2.7 million during the June quarter, trailing its 9.6 million additions during the previous quarter and lagging the company's outlook expecting 5 million net additions.

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: NYT , MDP , EBAY , GPC , NFLX

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?