Consumer Sector Update for 09/12/2018: CAR,CCE,VFC,AMZN

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Top Consumer Stocks

WMT -0.51%

MCD +0.45%

DIS +0.06%

CVS +1.12%

KO +0.34%

Consumer stocks were broadly mixed Wednesday, with shares of consumer staples companies in the S&P 500 racing to more than a 1.0% advance in the afternoon while shares of consumer discretionary firms in the S&P 500 were slipping about 0.1%.

Among consumer stocks moving on news:

(+) Avis Budget Group ( CAR ) was trading almost 6% higher Wednesday afternoon. The vehicle rental company has introduced curbside delivery, which allows customers to return their rental car to the Avis lot at airports and then have an employee drive them to the terminal with all of their luggage in the same vehicle. Avis also said it is partnering with Amazon.com ( AMZN ) to reward customers with an Amazon gift card worth up to 20% of their rental price if they book their rental cars using Amazon Alexa.

In other sector news:

(+) Coca-Cola European Partners ( CCE ) was almost 4% higher on Wednesday after the soft-drink bottler raised its FY18 outlook, now expecting per-share earnings this year to grow between 7% to 8% over FY17 levels, up from its previous forecast range expecting 5% to 6% year-over-year profit growth. The company late Tuesday also unveiled a $1.7 billion stock buyback program.

(-) V.F. Corp. ( VFC ) was fractionally lower Wednesday afternoon, falling almost 1% after giving back a small gain earlier in the session that followed the apparel company saying it expects its Vans brand to be generating $5 billion in yearly revenue by fiscal year 2023, representing growth between 10% and 12% over the five-year period.

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This article appears in: Business , Commodities
Referenced Symbols: CAR , AMZN , VFC

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