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Consumer Sector Update for 08/08/2018: AMZN,VSI,F,MGA,MG.TO

Top Consumer Stocks

WMT +0.43%

MCD +1.64%

DIS -1.95%

CVS +4.22%

KO -0.63%

Consumer stocks were ending broadly mixed today, with shares of consumer staples companies in the S&P 500 sinking almost 0.7% this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing more than 0.2%.

Among consumer stocks moving on news:

+ Amazon.com ( AMZN ) climbed to a new, all-time high on Wednesday, rising 1.5% to a best-ever $1.890.46 a share, aided by its Whole Foods Market unit introducing a grocery pickup service at its stores in Sacramento, Calif., and Virginia Beach, Va., with plans to add more cities over the rest of the year. Under the new program, Amazon Prime members can place grocery orders through a smartphone app and pick up their purchase as soon as 30 minutes later for a $4.99 fee, or for free if the customer spends at least $35 and is willing to wait one hour. Prime customers also will be able to use assigned parking spots at Whole Foods stores.

In other sector news:

+ Vitamin Shoppe ( VSI ) rose to a 13-month high, climbing over 28% to its best share price since July 2017 at $10.40, after reporting a surprise Q2 profit and net sales also exceeding Wall Street expectations. Excluding one-time items, the specialty retailer earned $0.30 per share during the three months ended June 30,

topping the two-analyst consensus expecting a $0.02 per share normalized Q2 net loss. Total sales slipped 1.1% year-over-year to $293.1 million, also beating the $283.4 million two-analyst mean.

+ Ford ( F ) turned narrowly higher again in late Wednesday trading, staying in a tight range a few pennies either side of its Tuesday close at $10.08 a share, following reports the automaker will introduce an entry-level sport utility vehicle in China next year in a bid to revive lagging sales. The new Ford Territory was developed with Ford's local partner, Jiangling Motors Corp, and is one of around 50 new or redesigned vehicles Ford expects to launch in China over the next six years. It also will begin sales of a redesigned Ford Focus later this year.

- Magna International (MGA,MG.TO) dropped as much as 24% Wednesday after the Canadian auto-parts company trimmed its FY18 profit and sales forecasts, blaming the expected impact of U.S. tariffs and a rising dollar. The company, whose Q2 financial results also missed analyst estimates, lowered its sales projections by $600 million compared with its prior guidance, now expecting between $40.3 billion to $42.5 billion in revenue this year but still straddling the Capital IQ consensus looking for $41.88 billion in FY18 sales. It also cut its outlook for non-GAAP FY18 earnings by $100 million to a new range of $2.3 billion to $2.5 billion.

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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