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Consumer Sector Update for 09/07/2017: GPRO, RH, BKS

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Top Consumer Stocks

WMT +0.05%

MCD +0.87%

DIS -3.96%

CVS +0.57%

KO +0.51%

Consumer stocks were broadly lower today, with shares of consumer staples companies in the S&P 500 slipping less than 0.1% while shares of consumer discretionary firms in the S&P 500 were plunging almost 0.9% lower.

In company news, GoPro ( GPRO ) jumped to a session high of $10.89 a share after the wearable camera company today said it is expecting its fiscal Q3 revenue to be at the top end of its forecast range of $290 million to $310 million, likely exceeding the Capital IQ consensus looking for $304 million in revenue for GoPro during the July-to-September period.

The company also said it is expecting to turn a profit during the three months ending Sept. 30 after excluding one-time items. That also would likely beat the analyst mean modeling a $0.05 per share non-GAAP net loss this quarter.

GoPro does not expect to produce GAAP net income during the current quarter, it said.

In other sector news,

(+) RH, (+42.6%) Non-GAAP Q2 EPS of $0.65 beats consensus call of $0.47. Adjusted sales rise to $619 mln, also topping the $606.4 mln analyst mean. Lifts FY17 earnings outlook above Street, sales remain in-line. Upgrade at Buckingham Research to Buy from neutral.

(-) BKS, (-7.0%) Fiscal Q1 net loss of $0.15 was wider than the $0.12 loss seen by analysts. Sales fall 6.6% to $853.3 mln, also missing the $871.8 mln analyst mean. Same-store sales decline 4.9% from last year.

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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