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Consumer Sector Update for 11/06/2018: USFD,ELF,CVS,AET,NIO


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Top Consumer Stocks

WMT -0.08%

MCD +1.09%

DIS +0.76%

CVS +5.53%

KO +0.42%

Consumer stocks were holding on to modest gains late in Tuesday trading, with shares of consumer staples companies in the S&P 500 rising nearly 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 LAO were climbing more than 0.2%.

Among consumer stocks moving on news:

(+) US Foods ( USFD ) was finishing with a double-digit increase on Tuesday, rising almost 13% in late trade after the food-services and supplies company reported better-than-expected Q3 net income. Excluding one-time items, the company earned $0.55 per share compared with $0.39 per share during the year-earlier period and beating the Capital IQ consensus by $0.04 per share. Net Sales dipped 0.8% from the same quarter last year to $6.15 billion, narrowly missing the $6.3 billion analyst mean.

In other sector news:

(+) e.l.f. Beauty ( ELF ) raced just under 20% higher on Tuesday after the cosmetics company reported Q3 net income of $0.17 per share, down from a $0.20 per share profit last year but still breezing past the Capital IQ consensus by $0.12 per share. Revenue slipped 11% year over year to $63.9 million but also topped the Street view expecting $60.09 million in quarterly revenue. It sees FY18 earnings in a range of $0.59 to $0.61 per share, exceeding the analyst mean by at least $0.02 per share.

(+) CVS Health ( CVS ) was more than 4% higher on Monday after the pharmacy retailer reported Q3 net income exceeding Wall Street estimates and also said it expects its proposed acquisition of health care insurer Aetna ( AET ) should close before the end of November. Excluding one-time items, the company earned $1.73 per share, up from $1.50 per share during the same quarter last year and topping the Capital IQ consensus by $0.02 per share. Revenue grew 2.4% over the year-ago period to $47.3 billion, roughly in-line with the $47.2 billion analyst mean. CVS also said it has completed the sale of its Medicare Part D prescription drug plan business to WellCare Health Plans ( WCG ), which was the final anti-trust hurdle remaining for the merger with Aetna to proceed. Insurance regulators in 23 of the 28 states reviewing the deal also have signed off on the business combination and the company this morning said it expects to receive the remaining five approvals by Nov. 30.

(-) NIO (NIO) has turned narrowly lower Tuesday afternoon, giving back a nearly 10% spike soon after the opening bell that followed the Chinese electric vehicle company reporting a huge jump in its Q3 revenue compared with year-ago levels and also surpassing Street views. Total revenue jumped 3,095.3% year over year to RMB1,469.6 million, or about $214.0 million, although that missed the two-analyst estimate expecting $228.97 million. Excluding one-time items, it also recorded a net loss of RMB10.35, or $1.51, per share. down from RMB58.52 per share net loss during the three months ended Sept. 30. Analyst estimates for net income were not available.

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: USFD , ELF , CVS , AET , WCG



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