Consumer Sector Update for 04/17/2019: SFS, APO, PEP, SQBG, WMT, MCD, DIS, CVS, KO
Top Consumer Stocks:
Most consumer majors were advancing pre-market Wednesday.
Stocks moving on news include:
(+) Smart & Final Stores (SFS), which was more than 20% higher after the company said it agreed to be bought by affiliates of Apollo Global Management (APO) for $6.50 per share in cash.
(+) Pepsico (PEP) was up more than 2% as it reported fiscal Q1 core earnings of $0.97 per share, up slightly from $0.96 per share in the prior-year period and higher than the $0.93 per share Street estimate provided by Capital IQ.
(+) Sequential Brands Group (SQBG) was advancing more than 2% after it agreed to sell the Martha Stewart and Emeril Lagasse brands, and all related intellectual property, to Marquee Brands for an estimated $175 million with an earnout opportunity of up to an additional $40 million.
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