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


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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.

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



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