Consumer Sector Update for 10/11/2017: SAM,RH,VOXX

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Top Consumer Stocks

WMT +1.84%

MCD +1.59%

DIS -1.14%

CVS -1.16%

KO +0.52%

Consumer stocks have turned mostly positive in late trade, with shares of consumer staples companies in the S&P 500 adding over 0.3% in value today while shares of consumer discretionary firms in the S&P 500 were posting a slightly more than 0.1% gain, reversing a small decline earlier today.

In company news, Boston Beer Company ( SAM ) advanced on Wednesday after the brewer last night said it has authorized an $150 million increase for its existing stock buyback programthe aggregate expenditure limit under its stock repurchase program of $150.0 million, boosting the amount of company cash available for share repurchases to $931.0 million.

In other sector news,

(+) RH, Expects to increase its non-GAAP FY17 earnings by $0.05 per share after it Tuesday repaying a $100 million second-lien term loan using borrowings from its asset-backed credit facility and cutting the annual interest payment to 2.75% from the current 9.5% rate for the term loan.

(-) VOXX, Reports unexpected 4.1% drop in fiscal Q2 sales to $113.5 mln, trailing the single-analyst estimate expecting $163 mln in sales for the three months ended Aug. 31. Also records a $0.74 per share net loss from continuing operations, reversing a $0.21 per share profit in the year-ago period.

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: SAM , RH , VOXX

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