Consumer Sector Update for 11/15/2018: SPB,JCP,WMT

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Top Consumer Stocks

WMT -1.91%

MCD -0.32%

DIS -0.03%

CVS -0.01%

KO -0.34%

Consumer stocks were retreating Thursday, with shares of consumer staples companies in the S&P 500 sinking 0.6% this afternoon, while shares of consumer discretionary firms in the S&P 500 were dropping 0.4%.

Among consumer stocks moving on news:

(+) Spectrum Brands Holdings ( SPB ) was down 7% on Thursday after the consumer products company agreed to sell its auto care business to Energizer Holdings ( ENR ) for $1.25 billion in cash and stock, including $937.5 million in cash and $312.5 million of Energizer Holdings' shares. Energizer Thursday also said it has revised the purchase agreement for its proposed purchase of Spectrum's battery and portable lighting business.

In other sector news:

(+) JCPenney ( JCP ) was 5.7% higher this afternoon, recovering from a 15% slide to a worst-ever $1.04 a share, after the retailer recorded an adjusted Q3 net loss of $0.52 per share, expanding on a $0.35 per share net loss during the same quarter last year but still topping the Capital IQ consensus expecting a non-GAAP net loss of $0.56 per share. Total sales fell to $2.65 billion during the quarter ended Nov. 3 and trailed the $2.77 billion analyst mean. Same-store sales fell 5.4%.

(-) Walmart ( WMT ) was trading 2% lower Thursday afternoon, giving back an earlier, after it reported better-than-expected Q3 earnings and revenue and also raised its FY19 earnings guidance in line with Wall Street estimates. Excluding one-time items, the company earned $1.08 per share on $124.9 billion in revenue, topping the Capital IQ consensus by $0.06 per share.

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: SPB , ENR , JCP , WMT

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