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Consumer Sector Update for 12/28/2018: BTI,AMCN,CVNA,MO,PM

Top Consumer Stocks

WMT +1.05%

MCD +0.04%

DIS +0.11%

CVS +0.61%

KO -0.39%

Consumer stocks were higher, with shares of consumer staples companies in the S&P 500 climbing fractionally this afternoon, while shares of consumer discretionary firms in the S&P 500 were ahead about 0.5%.

Among consumer stocks moving on news:

(+) British American Tobacco ( BTI ) climbed as much as 4% on Friday, leading an advance for traditional cigarette-makers, after US Food and Drug Administration Commissioner Scott Gottlieb late Thursday suggested the agency might take additional steps to curtail teen use of e-cigarettes unless manufacturers "forcefully address the epidemic." Phillip Morris ( PM ) and Altria ( MO ) also were higher in recent trade.

In other sector news:

(+) AirMedia Group ( AMCN ) surged 16% on Friday after saying board chairman, CEO and chief financial officer Herman Man Guo was continuing with his stock purchase plan, buying 500,000 American despositary shares between Dec. 7 to Dec. 27 at an average of 24 cents apiece. Guo in March committed to purchasing $5 million of the out-of-home advertising company's stock.

(-) Carvana ( CVNA ) fell 3% on Friday. The online auto-seller said it assisted in the refinancing of company-originated vehicle loan receivables it previously sold, repurchasing the package for $134.4 million and immediately reselling it to another trust owned by the same purchaser for the same price plus a $2.3 million arrangement fee.

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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