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GES

Consumer Sector Update for 12/01/2016: CMI,TLYS,GES

Top Consumer Stocks

WMT +0.23%

MCD -0.67%

DIS -0.04%

CVS -0.44%

KO -0.71%

Consumer stocks were mixed in early-afternoon trading, with shares of consumer staples companies in the S&P 500 dropping nearly 0.9% while shares of consumer discretionary firms in the S&P 500 were holding on to less than a 0.1% gain.

In company news, Cummins ( CMI ) sped to a two-year high on Thursday as the diesel- and natural gas-engine manufacturer was exploring the sale of its filtration and coolants business and was hoping to pocket more than $1.5 billion from the deal.

Cummins has tapped an unnamed investment bank to run an auction for the unit sometime during the next two months, according to a Reuters report citing people familiar with the matter.

CMI shares were up almost 1% this afternoon at $142.86 each, earlier hitting its best price since December 2014 at $146.48 a share.

In other sector news,

(+) TLYS, Q3 EPS of $0.22 doubles up Capital IQ consensus. Revenue rises 7.3% over year-ago levels to $152.1 mln, also beating the $143.3 mln Street view. Guides Q4 results in-line with analyst estimates.

(-) GES, Falls to eight-year low after reporting non-GAAP Q3 EPS of $0.11 per share, missing Capital IQ consensus by $0.03 per share. Net sales rise 2.9% to $536.3 mln, also trailing the $548.92 mln consensus. Guides Q4 results below Street estimates.

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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