Top Consumer Stocks
WMT +0.77%
MCD +0.42%
DIS -0.71%
CVS -0.10%
KO +0.08%
Consumer stocks were narrowly mixed this afternoon, with shares of consumer staples companies in the S&P 500 gaining about 0.1% while shares of consumer discretionary firms in the S&P 500 were inching about 0.1% lower.
In company news, Inventure Foods ( SNAK ) retreated Friday after the processed food company reported Q4 financial results trailing analyst projections for the final three months of 2015.
The company recorded a net loss of $0.08 per share, coming in $0.07 wider than the Capital IQ consensus expecting a $0.01 per share net loss. Revenue declined 6.8% from the same period last year to $68.7 million, also coming up short of the $71.95 million Street view.
SNAK shares were down more than 12% in late afternoon trading at $5.65 apiece, earlier sinking to a session low of $5.26 a share.
In other sector news,
(+) CKEC, Agrees to $1.1 bln buyout offer from AMC Entertainment ( AMC ), which will pay $30 in cash for each CKEC share. The companies expected to complete the deal before the end of the year, subject to shareholder and regulatory approvals. .
(-) IRG, Reports Q4 net loss of $0.29 per share, which was $0.08 wider than consensus view. Revenue declines 4.7% to $93.3 mln, matching the lone-analyst estimate. Same-restaurant sales slip 2.8% at Brick House + Tavern locations and 2.9% at Joe's Crab Shacks.
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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.
