Consumer Sector Update for 01/15/2020: AESE,BPY,BPY-UN.TO,BAM,BAM-UN.TO,FLNT,TGT

Top Consumer Stocks

WMT -0.90%

MCD +1.23%

DIS -0.08%

CVS +2.07%

KO +1.71%

Consumer stocks were broadly mixed, with the shares of consumer staples companies in the S&P 500 climbing nearly 0.8% this afternoon while the shares of consumer discretionary firms in the S&P 500 were slipping almost 0.1%.

Among consumer stocks moving on news:

(+) Allied Esports Entertainment (AESE) climbed almost 20% after saying Brookfield Property Partners (BPY) will invest $5 million in the gaming and entertainment company. Allied and the real estate arm of Canadian private equity investors Brookfield Asset Management (BAM) also will work together to develop dedicated e-sports venues at Brookfield's shopping mall properties.

In other sector news:

(+) Fluent (FLNT) soared 40% after the digital marketing firm late Tuesday said it expects Q4 revenue between $79.1 million to $80.1 million, easily topping the Capital IQ consensus expecting $64.38 million in revenue for the three months ended Dec. 31.

(-) Target (TGT) dropped 7.5% on Wednesday after saying it was lowering its forecast for Q4 sales growth at stores open more than 12 months following a disappointing holiday season. The discount retailer said comparable-store sales rose 1.4% during November and December, down from 5.7% during the same period last year. It now sees Q4 same-store sales growing 1.4%, down from its prior outlook expecting between 3% to 4% growth.

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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