Top Consumer Stocks
Consumer stocks were broadly lower, with shares of consumer staples companies in the S&P 500 falling just 0.2% while shares of consumer discretionary firms in the S&P 500 were posting a 1.3% decline.
In company news, Yum! Brands ( YUM ) rose Wednesday after the restaurant company reported a 1% rise in December same-store sales for its China division compared with year-ago levels, including 5% growth at its KFC locations and a 11% year-over-year decline at Pizza Hut Casual Dining restaurants.
Overall, Q4 same-store sales rose 2% for the China Division, the company said. That included an estimated 6% increase at KFC and an 8% decline of 8% in Pizza Hut same-store sales during the extended quarterly period that began Sept. 1 and concluded Dec. 31. The company is scheduled to report its Q4 financial results on Feb. 3.
YUM shares were up slightly nearly 1% at $70.17 each following an advance as high as $70.85 a share on Wednesday.
In other sector news,
(+) ESCA, (+10.5%) Rating increase to Buy from Hold at Wunderlich, which also set an $18 price target for the stock.
(-) AXL, (-16.1%) Said it expects to report FY15 sales of around $3.9 bln, compared with Street view looking for $3.93 bln.
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.