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Consumer Sector Update for 08/03/2018: WING,MED,BGS

Top Consumer Stocks

WMT +0.27%

MCD +0.08%

DIS - 0.40%

CVS +0.17%

KO +0.58%

Consumer stocks were climbing in early trading.

Among consumer stocks moving on news:

+ Wingstop ( WING ) climbed over 9% in Friday's pre-market trading after the eatery chain reported above-consensus Q2 net income, earning $0.23 per share and beating the Capital IQ consensus by $0.03 per share. Total revenue matched analyst projections, rising to $37 million from $31.6 million last year. The company also increased its quarter dividend by 29% to $0.09 per share.

In other sector news:

+ Medifast ( MED ) rose almost 19% in late trade Thursday night after the weight-management foods company said its Q2 profit almost doubled compared with 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 $0.98 per share. Revenue rose 55% year over year to $117.3 million, also exceeding the $101.75 million analyst mean. Its Q3 forecast is for revenue of $120.0 million to $125.0 million, topping the Street view expecting $99.4 million and for EPS of $1.05 to $1.10 versus the Street view of $0.93 EPS.

- B&G Foods ( BGS ) fell over 4% ahead of Friday's opening bell after reporting adjusted Q2 net income trailing the $0.44 per share consensus call by $0.06 per share. Net sale rose to $388.4 million from $361.7 million during the year-ago quarter and beating the Street view by $1.5 million. It issued Q3 guidance straddling the analyst mean expecting a $2.08 per share non-GAAP profit on $1.72 billion in revenue.

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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