Markets

Consumer Sector Update for 04/15/2019: VIPS,ADNT,LYFT

Top Consumer Stocks

WMT +1.18%

MCD +0.29%

DIS +1.51%

CVS +2.38%

KO +0.43%

Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 climbing over 0.6% this afternoon while shares of consumer discretionary firms in the S&P 500 were up fractionally.

Among consumer stocks moving on news:

(-) Vipshop Holdings Ltd (VIPS) fell about 6.3% after disclosing in a new regulatory filing Monday that Bill Huang was stepping down as chief technology officer at the Chinese online discount retailer, effective Monday, and would be replaced by Daniel Kao, who held the same post at Vipshop between June 2012 to October 2016.

In other sector news:

(+) Adient (ADNT) rose 14% on Monday after the car seat manufacturer disclosed plans by its US subsidiary for a $750 million private placement of senior secured notes due 2026.

(-) Lyft (LYFT) dropped 5.7% after the ride-sharing company said it removed and will replace around 3,000 electric pedal-assist bicycles from its bike-sharing program in New York, Washington and San Francisco because of a "stronger than expected braking force on the front wheel."

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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