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TUP

Consumer Sector Update for 01/30/2019: IRBT,SMG,TIS,TUP

Top Consumer Stocks

WMT -2.16%

MCD +0.13%

DIS -1.21%

CVS +1.10%

KO +0.30%

Consumer stocks were ending broadly higher, with shares of consumer staples companies in the S&P 500 climbing nearly 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 1.1%.

Among consumer stocks moving on news:

(+) iRobot Corp ( IRBT ) rose nearly 8% after Wednesday introducing its Terra robotic lawn-mower, adding to its portfolio of Roomba robot vacuum cleaners and Braava robotic mops. The Terra mowers will initially sold in Germany and through a beta program in the United States. Specific availability and pricing will be announced later, the company said.

In other sector news:

(+) Orchids Paper Products ( TIS ) climbed 7% after saying it has secured an extension until May 1 from its new group of lenders led by Black Diamond Commercial Finance to continue working on a potential deal to sell the tissue products company or refinance its outstanding debtload.

(+) Scotts Miracle-Gro ( SMG ) was nearly 2% higher on Wednesday after the lawn and garden products company reported a 35% increase in Q1 sales, rising to $298.1 million from $221.5 million in sales during the year-ago period and also topping the $287.2 million analyst mean.

(-) Tupperware Brands ( TUP ) lost nearly a third of its former value on Wednesday, falling 29%, after reporting a 14% decline in Q4 net sales to $505.9 million from last year and missing the Capital IQ consensus expecting $550.5 million in Q4 sales. The houseware products also slashed its upcoming dividend by 60.3% compared with its most recent distribution to $0.27 per share.

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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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