Markets

Consumer Sector Update for 01/16/2018: LAUR,BEBE,RILY,CAR

Top Consumer Stocks

WMT -0.09%

MCD +0.02%

DIS -1.57%

CVS +0.69%

KO +0.76%

Consumer stocks were mixed today, with shares of consumer staples companies in the S&P 500 climbing nearly 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were dropping nearly 0.6%.

Among consumer stocks moving on news:

Laureate Education ( LAUR ) shares rose Tuesday after the for-profit educator today reported a 2.4% increase in total enrollments at the end of Q4 to almost 1.07 mln, easing slightly ahead of its guidance from the end of Q3. New enrollments declined, however, falling 13.7% to 32,800 for the final three months of 2017 compared to the same period last year. Online and partnerships new enrollments dropped 900 students year-over-year while new enrollments at the company Walden Universtiy were down by 270 students, or about 4% compared with last year.

In other sector news:

+ bebe stores ( BEBE ) raced over 18% higher on Wednesday after asset managers B. Riley Financial ( RILY ) converted an existing loan into common stock and now owns a 29% interest in the apparel chain. The financial services company said the move provides bebe with a tax-efficient platform that can be leveraged for investing in profitable businesses. It also expects bebe to keep generating dividends following its purchase of cash-generating companies and using its net operating losses.

- Avis Budget Group ( CAR ) dropped over 10% to a session low of $44.11 a share after announcing an increase in its preliminary FY17 revenue to $8.85 bln, roughly in-line with the $8.8 bln Street view. The company today also approved a shareholder rights plan to fend off a prospective buyout offer from SRS Investment Management and preserving its "ability to evaluate and pursue all strategic actions."

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.


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

In This Story

RILY LAUR CAR BEBE

Other Topics

Commodities

Latest Markets Videos