Top Consumer Stocks
WMT +1.31%
MCD +0.07%
DIS +0.92%
CVS +0.58%
KO -0.32%
Consumer stocks turned moderately lower, reversing small gains earlier this afternoon. At last look, shares of consumer staples companies in the S&P 500 were slipping almost 0.2% in late trade while shares of consumer discretionary firms in the S&P 500 also were down less than 0.1%.
Among consumer stocks moving on news:
(+) Tesla ( TSLA ) raced almost 6% higher after the electric automaker continued to add more independent directors to the company's board, naming former Oracle ( ORCL ) CEO and founder Larry Ellison and Walgreen Boots Alliance ( WBA ) executive to the board, expanding the panel to 11 members. Separately, analysts at Wedbush Friday reiterated their outperform rating and $440 price target for Telsa shares.
In other sector 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.
(+) AirMedia Group (AMCN) surged 13% 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 5% 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.
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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.
