Markets
AMC

Consumer Sector Update for 03/04/2016: SNAK, CKEC, IRG, AMC

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.

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

AMC

Other Topics

Commodities

Latest Markets Videos