Markets

Consumer Sector Update for 11/10/2016: SODA,SHAK,CCE

Top Consumer Stocks

WMT +0.62%

MCD -0.63%

DIS +1.07%

CVS +1.16%

KO -2.95%

Consumer stocks were broadly mixed this afternoon, with shares of consumer staples companies in the S&P 500 sinking nearly 2.7% while shares of consumer discretionary firms in the S&P 500 were posting a 0.3% gain.

In company news, Sodastream International Ltd ( SODA ) jumped out to 28-month high on Thursday after the home soft-drink dispenser reported Q3 net income and sales exceeding Wall Street expectations.

The company earned $0.69 per share during the three months ended Sept. 30, up from a $0.22 per share profit during the same quarter last year and crushing the Capital IQ consensus by $0.45 per share. Revenues grew 12.9% over year-ago levels to $124.2 million, also beating the analyst mean by around $7.42 million.

Sodastream attributed much of the improved results to its growing sparkling water dispenser business, with unit sales rising 23% compared with last year to a nearly two-year high of 788,000 units. The company also reported an all-time quarterly record of 7.7 million gas refills during Q3.

SODA shares were up almost 16% at $32.60 each, previously topping out today at their best price since July 2014 at $33.49 a share.

In other sector news,

(+) SHAK, (+16.0%) Q3 EPS of $0.15 per share tops consensus by $0.01. Revenue climbs 40.0% to $74.6 mln, also beating the $69.2 mln consensus. Issues upside guidance for FY16, FY17.

(-) CCE, (-6.4%) Promotes chief operating officer Damian Gammell to CEO, effective Dec. 28, replacing the retiring John Brock. Q3 EPS of EUR0.66 tops Street view by EUR0.02 per share. Revenue falls 0.1% to EUR2.99 bln, exceeding the EUR2.92 billion consensus.

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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