Consumer Sector Update for 10/08/2018: DLPH,SYX,PERY,H,SBUX

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Top Consumer Stocks

WMT +1.11%

MCD +0.16%

DIS +0.20%

CVS +1.18%

KO +1.33%

Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 climbing more than 1.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were declining almost 0.5%.

Among consumer stocks moving on news:

(+) Delphi Technologies ( DLPH ) was back on positive ground Monday, rising less than 1% this afternoon and reversing a more than 1% decline made after analysts at RBC Capital Markets cut their price target for the auto-parts manufacturer by $18 to $32 a share while maintaining their Outperform stock rating.

In other sector news:

(+) Systemax ( SYX ) was nearly 1% higher in afternoon trade after the firm said board member and Adorama chief executive Barry Litwin will become the next CEO of the household tools and equipment company on Jan. 7, 2019, replacing Larry Reinhold after three years in the post. Both Litwin and Reinhold will remain on the Systemax board.

(+) Perry Ellis International ( PERY ) was inching higher Monday afternoon, with shares of the apparel company again retracing a small opening gain this morning after the firm announced a new license agreement with BAK Apparel to now include day and special occasion dresses as well as shrugs, toppers and coordinate sweaters for girls under the Laundry by Shelli Segal brand. The new collection should be in stores through the United States and Canada next spring.

(-) Hyatt Hotels ( H ) was almost 1% lower this afternoon, giving back a nearly 1% rise earlier Monday after the hospitality chain said it was acquiring Two Roads Hospitality, paying $480 million plus the opportunity to invest up to $120 million more in the hotel management company. Hyatt also said Patrick Grismer will step down as chief financial officer on Nov. 2 to become CFO at Starbucks ( SBUX ). He will be succeeded by Joan Bottarini, currently senior vice president of finance for the Americas at Hyatt.

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: DLPH , SYX , H , SBUX

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