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Consumer Sector Update for 01/23/2019: QSR,QSR.TO,VIPS,KMB,PG

Top Consumer Stocks

WMT +0.60%

MCD +0.09%

DIS -0.07%

CVS +0.89%

KO +0.27%

Consumer stocks were split between winners and losers Wednesday, with shares of consumer staples companies in the S&P 500 climbing more than 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were down nearly 0.1%.

Among consumer stocks moving on news:

(+) Restaurant Brands ( QSR ) was up almost 9% on Wednesday after saying it has promoted Jose Cil to chief executive officer from his long-time role as president of its Burger King segment. The company also increased its quarterly dividend by 11.1% over its most recent distribution to $0.50 per share.

In other sector news:

(+) Vipshop Holdings Ltd ( VIPS ) was surging Wednesday, rising 10%, after KeyBanc raised its rating on the Chinese discount retailer's shares to overweight from sector weight and also established a $10 price target for the company's stock.

(-) Kimberly-Clark ( KMB ) retreated Wednesday, dropping 3% in recent trading, after the consumer products company recording adjusted Q4 net income of $1.60 per share, up from $1.57 per share during the year-ago period but still lagging the $1.66 per share Street view.

(+) Procter & Gamble ( PG ) was up over 4% as i t report ed earnings and revenue in its fiscal second quarter that topped expectations while raising its guidance for 2019. The company said earnings came in at $1.25 a share, up from $1.19 during the same quarter last year and ahead of consensus compiled by Capital IQ for $1.21 a 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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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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