Markets

Consumer Sector Update for 08/08/2017: AMC,KORS,CVGI

Highs and Lows Stock Data

Top Consumer Stocks

WMT +0.43%

MCD -0.24%

DIS +0.50%

CVS -0.77%

KO -0.19%

Consumer stocks were mostly lower this afternoon, with shares of consumer staples companies in the S&P 500 declining about 0.3% while shares of consumer discretionary firms in the S&P 500 were posting a more than 0.1% decline.

In company news, AMC Entertainment ( AMC ) was slightly more than 1% higher shortly before Tuesday's closing bell after the movie theater chain today disclosed plans to its 50% ownership stake in Open Road Releasing to Tang Media Partners, pocketing one-half of the $28.8 million in total proceeds from the transaction.

AMC and Tang Media also have signed a separate marketing agreement for films released by Open Road after the sales process closes. Financial terms of that pact were not disclosed.

In other sector news,

(+) KORS, Fiscal Q1 EPS drops to $0.80 from $0.83 per share during the year-ago period but beating Street view by $0.18 per share. Net sales fall 3.6% from same quarter last year to $952.4 mln but also exceed the $919.2 mln analyst mean.

(-) CVGI, Q2 EPS of $0.08 lags Capital IQ consensus by $0.05 per share. Revenue climbs 9.5% to $195.1 mln, beating the $186.2 mln Wall Street call.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

CVGI AMC

Other Topics

Commodities