Consumer Sector Update for 11/09/2018: REV,PBPB,NBEV

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Top Consumer Stocks

WMT +0.51%

MCD +0.02%

DIS +1.69%

CVS -0.68%

KO +0.67%

Consumer stocks were mixed, with shares of consumer staples companies in the S&P 500 rising almost 0.4% this afternoon, while shares of consumer discretionary firms in the S&P 500 were falling 1.7%.

Among consumer stocks moving on news:

(+) Revlon ( REV ) surged 34% after reporting an 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 single estimate of a $0.40 per share net loss, according to Capital IQ.

In other sector news:

(-) Potbelly ( PBPB ) still was down 8% Friday afternoon after the restaurant chain reported Q3 financial results falling short of analyst forecasts and forecasting FY18 earnings also lagging Wall Street expectations.

(-) New Age Beverages Corp ( NBEV ) fell 24% on Friday after pricing a $45 million public offering of 12.9 million shares at $3.50 each, representing a 25% 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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