Markets

Consumer Sector Update for 04/02/2020: SHOP, CRTO, WBA

Top Consumer Stocks

WMT +0.71%

MCD -0.3%

DIS +1.1%

CVS -5%

KO +3.3%

Consumer stocks were mixed, with the SPDR Consumer Staples Select Sector ETF climbing 1% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was down 0.3% in value.

Among consumer stocks moving on news:

(-) Shopify (SHOP) dropped 10.5% despite the Canadian e-commerce company late Wednesday saying it expects to meet or exceed its Q1 forecast expecting between $440 million to $446 million for the three months ended March 31 despite the economic disruption caused by the COVID-19 pandemic. The Street had been looking for $444.8 million in Q1 revenue at the company, which also pulled its FY20 outlook because of the uncertainty over the duration and magnitude of the coronavirus outbreak.

In other sector news:

(+) Criteo (CRTO) jumped more than 15% higher after the online advertising company trimmed its Q1 revenue forecast to a new range of $204 million to $206 million, down from $209 million to $212 million previously but still topping the Capital IQ consensus looking for $201.29 million in revenue at the company during the three months ended March 31.

(-) Walgreens Boots Alliance (WBA) fell 6.8% after the drug-store retailer Thursday withdrew its FY20 forecast, explaining it could not accurately predict the impact of the COVID-19 pandemic on sales and per-share earnings.

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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SHOP CRTO WBA

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