Consumer Sector Update for 05/22/2019: AVP, JWN, LOW, WMT, DIS, MCD, CVS, KO
Top Consumer Stocks:
Consumer heavyweights were declining in pre-bell Wednesday trade.
Stocks moving on news include:
(+) Avon Products (AVP), which was more than 15% higher after the Financial Times and the Wall Street Journal reported that Natura Cosmeticos is buying Avon in an all-stock transaction and will pay more than $2 billion for its US rival.
(-) Nordstrom (JWN) was down more than 10% after reporting Q1 earnings of $0.23 per share, a drop from the $0.51 per share posted in the year-ago quarter. Sales were $3.34 billion, a decline from $3.469 billion recorded last year. Analysts polled by Capital IQ were expecting a profit of $0.43 per share on sales of $3.56 billion.
(-) Lowe's Companies (LOW) was declining more than 8% as it booked fiscal Q1 adjusted earnings of $1.22 per share, up from $1.19 in the comparable period a year ago but missing the estimate of $1.33 from analysts polled by Capital IQ.
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