Markets

Consumer Sector Update for 12/15/2016: SKYW,AAL,BBD-B.TO,PIR,RLH

Top Consumer Stocks

WMT +0.06%

MCD -0.09%

DIS +1.12%

CVS -1.41%

KO +0.85%

Consumer stocks were slightly higher this afternoon, with shares of consumer staples companies in the S&P 500 adding about 0.4% in value today while shares of consumer discretionary firms in the S&P 500 were climbing about 0.2%.

In company news, Skywest ( SKYW ) shares climbed to a new all-time high on Thursday after analysts at Cowen today increased their price target for the discount airline by $6 to $40 a share, also reiterating their outperform overall rating for the stock.

The move follows Skywest earlier today saying it was cancelling an order for 76 CRJ200 passenger jets from Bombardier (BBD-B.TO) as part of its ongoing fleet transition slated for completion in 2017. Bombardier has agreed to pay a $90 million termination fee by next month, Skywest said, adding it has placed 12 of its dual-class CRJ200 aircraft with American Airlines ( AAL ) through a multiple-year contract by its ExpressJet leasing unit.

SKYW shares were up more than 7% today at $39.25 apiece, retracing much of a prior advance to a best-ever $39.30 earlier today. AAL shares also were higher today, increasing almost 3% to $49.19 each following a 4.2% rise this morning to $49.95 a share.

In other sector news,

(+) PIR, (+37.2%) Adjusted Q3 EPS of $0.22 beats by $0.09. Net sales fall 0.4% to $475.9 mln, topping consensus by $9.1 mln. Raises Q4 results above Street views. Names Terry London CEO. Johnson Rice upgrade to Accumulate. Wedbush doubles price target to $8 while Telsey Advisory Group bumps price target by $1.50 to $7 a share.

(-) RLH, (-12.1%) Prices $16.9 mln public offering of 2.25 mln shares at $8 each, a 12.1% discount to Wednesday's closing price.

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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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