Consumer Sector Update for 08/12/2019: SPTN,TSG,TSGI.TO,ROKU,CPRI

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Top Consumer Stocks

WMT -2.07%

MCD -1.80%

DIS -2.20%

CVS -1.05%

KO -0.62%

Consumer stocks were broadly lower in late trade, with shares of consumer staples companies in the S&P 500 sinking nearly 0.8% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead over 1.6%.

Among consumer stocks moving on news:

(-) SpartanNash Company ( SPTN ) tumbled over 5% on Monday after the food distribution company said Dave Staples was stepping down as CEO and will be replaced on an interim basis by board chairman Dennis Eidson. It also lowered the top end of its forecast for adjusted FY19 earnings by $0.15 to a new range looking for net income this year in a range of $1.20 to $1.35 per share but still straddling the $1.28 per share Street view.

In other sector news:

(+) Roku ( ROKU ) rose almost 7% after Needham & Co. raised its price target on the streaming video service by $30 to $150 a share and reiterated its buy investment recommendation on the company's stock.

(-) Capri Holdings ( CPRI ) declined 4.4% to its lowest share price since January 2012 at $29.29 a share after its Versace division apologized after producing a t-shirt that identified Hong Kong and Macau as separate countries rather than China-controlled territories. Chinese actress Yang Mi also said she was quitting as Versace's brand ambassador because of the issue.

(-) The Stars Group ( TSG ) fell nearly 20% to its lowest share price since early 2017 on Monday after the online casino company reported a 54.9% increase in total revenue compared with year-ago levels, rising to $637.6 million but still missing the Capital IQ consensus expecting $656 million in revenue for the April-to-June fiscal period. It also lowered its forecast for adjusted FY19 net income and revenue below analyst projections.

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: SPTN , ROKU , CPRI , TSG

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