Consumer Sector Update for 05/08/2019: SGMS,MTCH,LYFT

Top Consumer Stocks

WMT -0.41%

MCD +0.29%

DIS +1.69%

CVS +1.01%

KO +0.13%

Consumer stocks were rising, with shares of consumer staples companies in the S&P 500 climbing fractionally while shares of consumer discretionary firms in the S&P 500 were ahead 0.4%.

Among consumer stocks moving on news:

(+) Scientific Games (SGMS) was surging Wednesday, climbing more than 17%, after the casino and lottery equipment company reported a 3% increase in revenue to $837 million during its Q1 ended March 31 from $812 million during the same quarter last year and beating the Capital IQ consensus by $4.7 million.

In other sector news:

(+) Match Group (MTCH) was posting a 13% advance after late Tuesday reporting Q1 net income and revenue exceeding Wall Street forecasts. The online dating platforms company earned $0.42 per share during Q1, exceeding the analyst consensus expecting no change from its year-ago loss of $0.33 per share. Revenue rose 14% over the same quarter last year, also beating the $463.69 million consensus call.

(-) Lyft (LYFT) dropped about 7% after the ride-sharing service narrowed its adjusted Q1 net loss compared with the same quarter last year, reporting a net loss of of $9.02 per share for the three months ended March 31, excluding one-time items, improving on an $11.40 per share non-GAAP loss last year but still missing the Capital IQ consensus expecting an adjusted net loss of $1.07 per share. It also projected Q2 revenue ahead of the Street consensus.

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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