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

Top Consumer Stocks

WMT +0.15%

MCD +0.54%

DIS +1.31%

CVS +1.15%

KO +1.18%

Consumer stocks were mostly higher Thursday, with shares of consumer staple companies in the S&P 500 climbing almost 1.1% in the afternoon while shares of consumer discretionary stocks in the S&P 500 were more than 0.5% higher in recent trading.

Among consumer stocks moving on 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, in line with expectations for $1.99.

Among consumer stocks moving on news:

In other sector news:

+ 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.

+ Alibaba ( BABA ) was narrowly higher on Thursday, climbing back from a nearly 1% mid-morning decline, after the Chinese online retailer reportedly opened its Taobao marketplace to Russian shoppers. Russian consumers will have initial access to around three million products, including children's clothing and related items, with delivery provided by Alibaba's Cainiao logistics unit, according to Russian daily newspaper Kommersant, citing Russian customers.

- Barnes & Noble ( BKS ) was fractionally lower Thursday afternoon 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 group to share CEO duties until a permanent successor is hired. It also has formed a executive search committee to find a new CEO.

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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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