Consumer Sector Update for 04/16/2019: SGMS,WYNN,OMC,PKG

Top Consumer Stocks

WMT +0.86%

MCD +0.13%

DIS -1.19%

CVS -0.94%

KO -0.23%

Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 slipping more than 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead over 0.5%.

Among consumer stocks moving on news:

(+) Scientific Games Corp (SGMS) jumped nearly 8% on Tuesday after the gambling products company said it was partnering with Wynn Resorts (WYNN) to launch digital sports betting and iGaming applications for the casino company throughout the United States. The initial launch is planned for New Jersey, where state lawmakers approved legislation enabling sports betting last June, and will use several Scientific Games products, including its managed sports trading service and content aggregation system.

In other sector news:

(+) Omnicom Group (OMC) climbed almost 5% after the public relations and ad shop reported Q1 net income of $1.17 per share, improving on a $1.14 per-share profit during the year-ago period and beating the Capital IQ consensus for the three months ended March 31 by $0.07 per share.

(-) Packaging Corp of America (PKG) dropped nearly 5% after BofA-Merrill Lynch lowered its investment rating on the containerboard and corrugated packaging company to neutral from buy.

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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