Consumer Sector Update for 04/12/2019: RBZ,DLPH,DIS,NFLX,GRUB,UBER

Top Consumer Stocks

WMT +0.85%

MCD +1.54%

DIS +11.52%

CVS +0.32%

KO -0.05%

Consumer stocks still were broadly higher, with shares of consumer staples companies in the S&P 500 climbing just over 0.2% in late trade this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead over 0.6%.

Among consumer stocks moving on news:

(+) Reebonz Holding Ltd (RBZ) still was trading over 69% higher after the luxury e-commerce platform disclosed plans for a $12 million public offering of its ordinary shares as well as offering another $12 million of warrants to buy additional shares. It expects to use the net proceeds for working capital as well as funding a potential expansion of its business and acquiring additional resources for its product and data teams.

In other sector news:

(+) Walt Disney (DIS) rose over 12% to a best-ever $130.90 a share after Friday saying its ad-free Disney+ streaming service will launch on Nov. 12 in the US at $6.99 per month. Rival service Netflix (NFLX) shares were down almost 4% this afternoon.

(+) Delphi Technologies (DLPH) was advancing Friday, climbing over 5% in recent trade, after BofA-Merrill Lynch raised its stock rating for the auto parts manufacturer to buy compared with its previous neutral call.

(-) GrubHub (GRUB) fell more than 5.6% on Friday after Wedbush lowered its price target for food ordering and delivery service by $30 to $100 a share "to better reflect the continued changes in (its) competitive dynamics" from fast-growing rivals like Uber Eats, which makes deliveries from 220,000 restaurants worldwide compared with GrubHub's 105,000 restaurant partners.

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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