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Consumer Sector Update for 08/10/2018: RUTH,YUM,HLF


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Top Consumer Stocks

WMT +1.23%

MCD -0.50%

DIS -0.90%

CVS +0.15%

KO -0.56%

Consumer stocks were moderately lower Friday, with shares of consumer staples companies in the S&P 500 sinking over 0.3% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were falling more than 0.5%.

Among consumer stocks moving on news:

+ Ruth's Hospitality Group ( RUTH ) jumped out to a record high on Friday, rising almost 14% to a best-ever $32.75 a share, after the restaurant chain reported improved Q2 net income also beating Wall Street expectations. It earned $0.32 per share during the three months ended June 30, up from $0.25 during the same quarter last year and topping the Capital IQ consensus forecast by $0.02 per share. Total revenue rose to $109.6 million from $100 million last year but lagged the $111.7 million analyst mean.

In other sector news:

+ Yum! Brands ( YUM ) was higher Friday afternoon, climbing nearly 1%, after authorizing the repurchase of up to $2 billion of its common shares through a new stock buyback program running through the end of 2019. The fast-food restaurant company also had about $329 million still available on June 30 for share repurchases under its previous authorization. It also declared a $0.36 per share dividend, unchanged from its most recent distribution to investors and payable Sept. 7 to shareholders of record on Aug. 20.

- Herbalife ( HLF ) was 1% lower Friday afternoon, reversing a small rise earlier in the session that followed the personal-care products company, through a pair of subsidiaries, late Thursday pricing a $400 million private placement of its 7.250% senior notes due 2026. Net proceeds will be used to repay existing debt and for general corporate purposes.

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: RUTH , YUM , HLF



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