Health Care Sector Update for 11/07/2018: ETSY,GNC,KORS

Shutterstock photo

Top Consumer Stocks

WMT +0.63%

MCD +0.31%

DIS -0.37%

CVS +1.51%

KO +0.49%

Consumer stocks were higher Wednesday, with shares of consumer staples companies in the S&P 500 rising 0.2%, while shares of consumer discretionary firms in the S&P 500 were climbing almost 1.7%.

Among consumer stocks moving on news:

(+) Etsy ( ETSY ) climbed more than 25% on Wednesday after the e-commerce platform reported Q3 net income of $0.15 per share on $150.3 million in sales, beating the Capital IQ consensus by $0.01 per share and revenue expectations of $149.7 million. The company raised its FY18 revenue outlook above the Street view and authorized a new stock buyback program for up to $200 million of its common shares.

In other sector news:

(+) GNC Holdings ( GNC ) was 11% higher after announcing a $300 million investment from the Harbin Pharmaceutical Group and also saying that the firm will partner on joint ventures in Hong Kong and China.

(-) Michael Kors Holdings ( KORS ) dropped 15% on Wednesdasy, sinking to its lowest share price since October 2017 after reporting mixed fiscal Q2 financial results, upstaging the high-end apparel company raising its forecast for full-year adjusted EPS.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , US Markets
Referenced Symbols: ETSY , GNC ,

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?