Consumer Sector Update for 07/05/2018: CTRP,ISCA,VLRS,BKS

Top Consumer Stocks

WMT -0.12%

MCD +0.39%

DIS +1.12%

CVS +0.80%

KO +1.36%

Consumer stocks still were mostly higher Thursday afternoon, with shares of consumer staple companies in the S&P 500 climbing almost 1.3% while shares of consumer discretionary stocks in the S&P 500 were nearly 0.5% higher in recent trade.

Among consumer stocks moving on news:

- Ctrip ( CTRP ) declined Thursday, falling over 3% in late trade, after the online vacation reservation website saw its lawsuit against a Chinese car rental company tossed out after after the court earlier this week ruled Ctrip's accusation of misconduct by Ehi Car Services was "unsustainable," "factually incapable of proof" and "wholly unmeritorious." The suit related to Ctrip's attempt to block a deal announced in April where Ehi Car Services would be taken private by a consortium led by its Chief Executive Officer Ray Ruiping Zhang in a transaction valued at about $937.5 million. Ctrip said it remains committed to the merger agreement.

In other sector news:

+ International Speedway ( ISCA ) gained Thursday after reporting improved non-GAAP Q2 net income and revenue, also beating Wall Street estimates. Excluding one-time items, the motorsports company earned $0.37 per share during the three months ended May 31, up from $0.30 per share during the same quarter last year and topping the Capital IQ consensus by $0.01 per share. Sales grew to $171.7 million from $165.3 million during the year-ago period, exceeding the $169.1 million analyst mean. Looking forward, the company continues to project non-GAAP FY18 sales in a range of $680.0 million to $695.0 million, straddling the $687.9 million Street view. It also sees adjusted earnings between $1.90 to $2.10 per share, also i-line with expectations for $1.99.

+ Controladora Vuela Compania de Aviacion ( VLRS ) was more than 3% higher in Thursday trading after the Mexico air carrier better known as Volaris said its total capacity jumped 14.8% in June over year-ago levels amid a 12.1% rise in total demand to 1.5 billion. The airline carried 1.5 million passengers last month, marking a 14.1% year-over-year increase. Network load factor was 87.0% during June, down 2.1 percentage points from last year.

- Barnes & Noble ( BKS ) was fractionally lower Thursday afternoon, seesawing between small gains and losses, after the bookseller late Tuesday said CEO Demos Parneros was fired for violating company policies. The company did not specify what policies the former chief executive violated, although the Barnes & Noble board said it acted on advice of its outside law counsel and later added the move was not due to "any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud." The company has formed a leadership team to share CEO duties until its executive search committee identifies and hires a new CEO.

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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