Consumer Sector Update for 06/29/2017: APRN,AYI,RAD,WBA

Top Consumer Stocks

WMT -0.88%

MCD -0.73%

DIS -1.05%

CVS -1.27%

KO -1.11%

Consumer stocks were ending sharply lower, with shares of consumer staples companies in the S&P 500 sinking about 1.0% while shares of consumer discretionary firms in the S&P 500 were dropping nearly 0.9%.

In company news, Blue Apron ( APRN ) was edging higher late in its first day as a public company, hanging on to a 2% gain late Thursday after the food-kit delivery company earlier priced a $300 million initial public offering of 30 million shares at $10 each, the low-end of a revised $10 to $11 per share range.

The new stock opened mid-morning at the $10 IPO price and soon topped out at $11 a share within the first hour of trading before slowly drifting back through today's narrow price range.

In other sector news,

(+) AYI, (+7.4%) Non-GAAP EPS of $2.15 exceeds Capital IQ consensus by $0.12 per share. Revenue rises 4.7% over year-ago levels to $891.6 mln, also topping the $878.7 mln consensus.

(-) RAD, Walgreens ( WBA ) scraps prior merger proposal, instead agrees to acquire 2,186 Rite Aid stores plus related assets and inventory for $5.175 bln.

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

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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.

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