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Consumer Sector Update for 08/13/2019: JD,IAA,AAP


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Top Consumer Stocks

WMT +2.10%

MCD +0.98%

DIS +1.10%

CVS +1.84%

KO +0.23%

Consumer stocks were broadly higher, with shares of consumer staples companies in the S&P 500 rising nearly 1.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 1.6%.

Among consumer stocks moving on news:

(+) JD.com ( JD ) climbed 12.5% on Tuesday after the Chinese e-commerce platform recorded better-than-expected Q2 financial results, supported by 20.8% growth in net product revenue and a 42% rise in net service revenue. Excluding one-time items, it earned RMB2.30 per American depository share, up from RMB0.33 per ADS during the year-ago period and crushing the Capital IQ consensus expecting RMB0.54 per ADS.

In other sector news:

(+) IAA ( IAA ) rallied Tuesday, at one point rising to within 4 cents of its 52-week high, after the salvage vehicle auction company beat Wall Street expectations with its Q2 net income and revenue. Excluding one-time items, it earned $0.44 per share, up from $0.41 per share during the same quarter last year and beating the Capital IQ consensus by $0.05 per share. Revenue grew 9.7% year over year to $366.4 million, also exceeding the $357.9 million analyst mean.

(-) Advance Auto Parts ( AAP ) fell 1.3% after the retailer missed the Wall Street consensus with its Q2 financial results and lowered its FY19 sales outlook. Excluding one-time items, it earned $2 per share, up from $1.97 per share during the same quarter last year but still trailing the Capital IQ consensus by $0.21 per share.

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: JD , IAA , AAP



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