Consumer Sector Update for 08/03/2018: DISH,NUS,MED,SHAK

Top Consumer Stocks

WMT +1.14%

MCD +0.50%

DIS +0.99%

CVS +1.65%

KO +1.12%

Consumer stocks were broadly higher in late Friday trading, including a nearly 1.3% rise for shares of consumer staples companies in the S&P 500 while shares of consumer discretionary firms in the S&P 500 were climbing slightly more than 0.3%.

Among consumer stocks moving on news:

+ DISH Network ( DISH ) soared as much as 14% on Friday, overcoming a drop in subscribers by also reporting a big jump in Q2 net income for the three months ended June 30 over its year-ago profit and also exceeding analyst estimates. The pay-TV television company earned $0.83 per share compared with just $0.09 per share last year and topping the Capital IQ consensus by $0.13 per share while net sales fell 4.9% to $3.46 billion and also sneaking past the $3.44 billion Street view. Total subscriptions fell 2.3% year over year to 13 million.

In other sector news:

+ Medifast ( MED ) raced to a record high on Friday, rising almost 31% to a best-ever $229.20 a share after the weight-management foods company's Q2 profit almost doubled from the year-ago period, rising to $1.16 per share from $0.63 per share last year and breezing past the Capital IQ consensus expecting $0.95 per share. Revenue rose 55% year over year to $117.3 million, also exceeding the $101.75 million analyst mean. Its Q3 forecast topped the Street view expecting $1.05 per share on $99.4 million in revenue by at least $0.12 per share and $20.6 million, respectively.

+ Nu Skin Enterprises ( NUS ) climbed to its best share price since early January 2014 at $88.68 a share, rising almost 17%, after reporting improved Q2 sales that also topped Wall Street forecasts and prompting analysts at Stifel to lift their investment rating for the personal-care products company to Hold from Sell and raise their price target for its stock by $13 to $70 a share. The upgrade followed Nu Skin also guiding Q3 and FY18 sales above Street views and increasing its stock buyback authorization by another $408 million to a new total of $500 million.

- Shake Shack ( SHAK ) stumbled Friday, at one point falling over 10%, after the restaurant chain issued an outlook for FY18 sales trailing analyst estimates, upstaging better-than-expected Q2 financial results. The company is projecting sales this year in a range of $446 million to $450 million, lagging the Capital IQ consensus for the 12 months ending Dec. 31 by at least $2.15 million. Same-Shack sales are seen rising 0% to 1% over last year.

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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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