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Consumer Sector Update for 12/20/2018: OSTK, REVG, RAD, FRGI

Top Consumer Stocks

WMT -3.46%

MCD -2.90%

DIS -1.78%

CVS -3.03%

KO -0.71%

Consumer stocks were broadly lower in late trade, with shares of consumer staples companies in the S&P 500 Thursday sinking almost 1.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were posting a nearly 2.0% retreat.

Among consumer stocks moving on news:

(+) Overstock.com ( OSTK ) was more than 3% higher Thursday afternoon, earlier rising almost 9%, after the online retailer said its Medici Land Governance subsidiary has signed a memorandum of understanding to develop a blockchain-based records and information platform next year for the Teton county government in Wyoming.

In other sector news:

(-) Rite Aid ( RAD ) climbed more than 13% at one point on Thursday, only to give back the entire advance this afternoon after the pharmacy retailer late Wednesday reported adjusted Q3 net income of $0.01 per share, unchanged from year-ago levels but still topping the Capital IQ consensus expecting a non-GAAP net loss of $0.01 per share for the three months ended Dec. 1.

(-) Fiesta Restaurant Group ( FRGI ) turned lower Thursday afternoon, reversing a nearly 3% advance earlier Thursday that followed the company's saying it will close 14 of its Pollo Tropical restaurants in Florida and Georgia and nine Taco Cabana restaurants in Texas after recently completing its strategic renewal plan and portfolio review.

(-) REV Group ( REVG ) fell as much as 25% after the specialty vehicle-maker reported surprise declines in fiscal Q4 net income and sales. Excluding one-time items, the specialty vehicle company earned $0.28 per share, down from $0.44 per share during the year-ago period and missing the Capital IQ consensus by $0.25 per share.

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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