Consumer Sector Update for 11/09/2018: LGF-A,LGF-B,REV,PBPB,NBEV

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Top Consumer Stocks

WMT +0.62%

MCD +0.32%

DIS +1.90%

CVS -0.19%

KO +0.91%

Consumer stocks were ending broadly mixed again today, with shares of consumer staples companies in the S&P 500 rising over 0.8% this afternoon while shares of consumer discretionary firms in the S&P 500 were falling more than 1.1%.

Among consumer stocks moving on news:

(+) Lions Gate Entertainment (LGF-A,LGF-B) was winning rave reviews on Wall Street on Friday, with shares of the movie and television production company rising over 5% after it reported adjusted Q3 net income and revenue exceeding analyst estimates. Excluding one-time items, the company earned $0.22 per share during the July-to-September reporting period, slipping from a $0.29 per share non-GAAP profit last year but still doubling up the Capital IQ consensus expecting $0.11 per share. Revenue fell to $901 million from $940.8 million last year but also topped the $892.2 million Street view.

In other sector news:

(+) Revlon ( REV ) was looking pretty on Friday, rising almost 36% to a 12-year high at $29.62 a share after reporting a surprise adjusted Q3 profit. Excluding one-time items, the cosmetics and beauty products company earned $0.14 per share, reversing a $0.38 per share adjusted net loss during the same quarter last year and easily beating the Capital IQ consensus expecting a $0.40 per share net loss.

(-) Potbelly ( PBPB ) still was down almost 7% Friday afternoon, nearly halving a more than 13% declince soon after the opening bell that followed the restaurant chain reporting Q3 financial results falling short of analyst forecasts and forecasting FY18 earnings also lagging Wall Street expectations. Excluding one-time items, Potbelly earned $0.14 per share, reversing a $0.38 per share net loss during the same quarter last year but still missing the Capital IQ consensus looking for a $0.40 per share non-GAAP profit. Total revenue fell to $655.4 million from $666.5 million during the same quarter last year although that topped the lone analyst estimate expecting $639.6 million.

(-) New Age Beverages Corp ( NBEV ) fell over 25% at one point on Friday after pricing a $45 million public offering of 12.9 million shares at $3.50 apiece, representing a 25.4% discount to Thursday's closing price. Underwriters received a 45-day option to buy up to 1.94 million additional shares to cover potential overallotments. New Age plans to use the net proceeds for working capital and possible acquisitions.

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: REV , PBPB , NBEV

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