Markets

Consumer Sector Update for 03/04/2019: FTDR,ALRM,PLCE

Top Consumer Stocks

WMT -0.06%

MCD -2.35%

DIS -0.42%

CVS -3.34%

KO +0.14%

Consumer stocks were drifting lower, with shares of consumer staples companies in the S&P 500 falling 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were down 0.4%.

Among consumer stocks moving on news:

(-) Frontdoor ( FTDR ) slumped Monday, sinking 1.5%, after the home-services company disclosed plans for a secondary offering of more than 16.7 million common shares now owned by Service Master through one or more debt-for-equity swaps expected to take place by mid-June.

In other sector news:

(-) Alarm.com ( ALRM ) fell nearly 7% after Imperial Capital lowered its stock rating for the home and business security company to in-line from outperform previously but also increased its price target for the company's stock by $3 to $61 a share.

(-) Children's Place ( PLCE ) dropped 12% after reporting adjusted Q4 net income of $1.10 per share, more than halving its $2.52 per share profit during the same quarter last year ago and missing the consensus estimate expecting $2.10 per 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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