Markets
CVS

Consumer Sector Update for 05/02/2018: YUM, CVS, TAP

A generic image of a pen on a chart
Credit: Shutterstock photo

Top Consumer Stocks

WMT -0.92%

MCD -0.85%

DIS +0.19%

CVS -2.67%

KO -1.02%

Consumer stocks were broadly lower Wednesday, with shares of consumer staples companies in the S&P 500 sinking over 1.3% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were slipping just 0.2%.

Among consumer stocks moving on news:

- Yum! Brands ( YUM ) declined Wednesday, at one point dropping almost 6%, despite reporting adjusted Q1 net income topping year-ago comparisons and analyst estimates. Excluding one-time items, the restaurant chains company earned $0.90 per share during the January-to-March fiscal period, up from $0.65 per share during the year-ago quarter and exceeding the Capital IQ consensus by $0.21 per share. Revenue fell to $1.37 billion from $1.42 billion last year, also beating the $1.08 billion analyst consensus.

In other sector news:

- CVS Health ( CVS ) fell Wednesday after the pharmacy retailer reported Q1 revenue narrowly missing analysts forecasts. Revenue rose to $45.7 billion during the three months ended March 31 from $44.5 billion during the year-ago period but trailing the Capital IQ conensus expecting $45.8 billion in quarterly revenue. Excluding one-time items, it earned $1.48 per share, topping the Street view by $0.08 per share. The company is projecting non-GAAP FY18 per-share earnings in a range of $6.87 to $7.08 and Q2 net income between $1.59 to $1.64 per share. Those forecasts exceed the analyst means by at least $0.41 per share for FY18 and at least $0.14 per share for Q2.

- Molson Coors ( TAP ) slumped Wednesday, dropping to a four-year low of $62.01 a share following a nearly 9% spill on Wednesday after reporting Q1 financial results lagging Wall Street expectations. Adjusted Q1 net income fell to $0.48 per share from $0.80 per share during the same quarter last year and missing the Capital IQ consensus by $0.30 per share. Net sales slid to $2.33 billion from $2.45 billion last year, also trailing the $2.45 billion analyst mean.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

CVS YUM TAP

Other Topics

Commodities

Latest Markets Videos