Markets
ETH

Consumer Sector Update for 04/17/2019: ETH,UAL,SFS,APO,ARES,SQBG

Top Consumer Stocks

WMT +0.34%

MCD -0.01%

DIS +1.51%

CVS -2.55%

KO +0.72%

Consumer stocks added to their prior gains in late trade, with shares of consumer staples companies in the S&P 500 climbing over 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 also were ahead almost 0.3%.

Among consumer stocks moving on news:

(-) Ethan Allen Interiors (ETH) was fractionally lower in later trade, drifting lower after Wednesday announcing plans to eliminate 380 jobs at its plants as part of a wider company restructuring intended to boost gross profit for the the furniture builder and retailer by between $5 million to $6 million during FY20. Most of the jobs will be cut at it facility in Old Fort, N.C., with the rest of the reductions in Passaic, N.J.

In other sector news:

(+) Smart & Final Stores (SFS) raced over 20% higher after the retail chain agreed to a $497 million buyout proposal from affiliates of Apollo Global Management (APO). The $6.50-a-share cash offer is expected to close during Q3, pending regulatory approval and other conditions. Apollo previously owned Smart & Final between 2007 to 2012 prior selling the chain to Ares Management (ARES).

(+) United Continental (UAL) climbed more than 4% after the air carrier late Tuesday reported non-GAAP net income of $1.15 per share, more than doubling its $0.49 per share profit during the year-ago period and beating the Capital IQ consensus by $0.19 per share.

(-) Sequential Brands Group (SQBG) dropped 18% on Wednesday after the apparel and home goods company agreed to sell its Martha Stewart and Emeril Lagasse brands and all related intellectual property to Marquee Brands for an estimated $175 million along with an additional earnout opportunity of up to $40 million.

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

ETH UAL APO ARES

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More