Top Consumer Stocks
WMT +0.58%
MCD +0.35%
DIS +0.79%
CVS -0.08%
KO -0.20%
Consumer stocks were mostly higher in late Wednesday trade with the S&P Consumer Staples Index advancing 0.1% while the S&P Consumer Discretionary Index was ahead almost 0.8%
In company news, Dave & Buster's ( PLAY ) was hanging on to a solid gain Wednesday after the food and entertainment company beat Wall Street expectations with its Q4 financial results.
Pro forma EPS was $0.33, up from $0.18 per share last year and beating the Capital IQ consensus by $0.05 per share.
Net sales fell rose 17.2% from year-ago levels to $207.1 million, topping analyst estimates by around $2.8 million. Sales at stores open more than one year grew 10.5%, also edging out expectations for a 10.0% gain.
Looking forward, the company is expecting between $808 million to $822 million in revenue during the current fiscal year ending in December, straddling the Street view looking for $818 million in net sales. Same-store sales increase are seen at 3% to 4%, in-line with expectations for a 3.9% increase.
PLAY shares were up over 3% at $31.60 apiece, earlier climbing nearly 8% to $32.99 a share. The stock has traded within between $15.89 to $33.15 a share since the company priced its initial public offering on Oct. 10, already rising more than 75% over that span through yesterday's close.
In other sector news,
(+) ZEP, Agrees to $692 mln buyout offer from New Mountain Capital, with the private equity firm paying $20.05 per share for the household products company. The deal includes a 30-day "go-shop" provision, allowing ZEP to solicit alternative proposal.
(-) LGF, Prices secondary offering of 10 mln shares of its common stock previously held by MHR Fund Management at $32 apiece.
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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.
