Top Consumer Stocks
Consumer stocks were posting small gains on Thursday, with shares of consumer staples companies in the S&P 500 climbing just over 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead less than 0.1%.
Among consumer stocks moving on news:
(+) Spirit Airlines ( SAVE ) climbed 1%. The carrier late Wednesday reported a 4% increase in Q1 total revenue per available seat mile over year-ago levels, lagging its prior guidance by around 100 basis points. It blamed the short-fall on lower-than-expected yields during March and modestly higher capacity production.
In other sector news:
(+) Papa Murphy's Holdings ( FRSH ) raced 31% higher to its best share price since October 2016 at $6.42 a share after agreeing to a $190 million buyout offer from MTY Food Group. Under terms of the proposed transaction, Papa Murphy investors will receive $6.45 in cash for each of their shares.
(-) Bed Bath & Beyond ( BBBY ) dropped nearly 9% after reporting a 11% decline in Q4 sales, falling to $3.31 billion during the 13 weeks ended March 2 compared with $3.72 billion in sales during the 14-week comparable period in 2018. Analysts, on average, had been expecting $3.33 billion in Q4 sales for the housewares retailer. Same-store sales fell 1.4% year-over-year.
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