Top Consumer Stocks
Consumer stocks were posting small gains, with shares of consumer staples companies in the S&P 500 climbing less than 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead almost 0.3%.
Among consumer stocks moving on news:
(+) Avis Budget Group ( CAR ) sped to a 9% advance on Monday after Goldman Sachs upgraded its rating on the company's shares and a new regulatory filing showed mutual fund investor Vanguard Group added to its equity stake in the rental vehicle company during the final three months of 2018, acquiring another 273,572 Avis shares. Vanguard now owns more than 6.55 million of the company's stock, equal to 8.4% of its outstanding stock compared with 6.28 million shares previously.
In other sector news:
(+) Restaurant Brands International ( QSR ) was posting a small gain this afternoon, rising about 1.5%, after the Burger King and Tim Horton's parent company reported non-GAAP Q4 net income of $0.68 per share, improving on a $0.66 per share adjusted profit during the year-ago period and topping the Capital IQ consensus by $0.01 per share.
(-) Lions Gate Entertainment (LGF.A,LGF.B) dropped almost 4% on Monday after the movie and television studio's latest release, "Cold Pursuit," in its first weekend in theaters, came in third place, grossing about $10.8 million, according to Box Office Mojo.
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.