Consumer Sector Update for 06/13/2019: ELY,TLRD,RH,LAUR

Top Consumer Stocks

WMT -0.44%

MCD -0.40%

DIS +3.96%

CVS +1.59%

KO -0.59%

Consumer stocks stayed mixed heading into Thursday's close, with shares of consumer staples companies in the S&P 500 falling almost 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing over 0.7%.

Among consumer stocks moving on news:

(+) Callaway Golf (ELY) shares jumped almost 14% on Thursday after a new regulatory filing showed Jana Partners owns a 9.2% equity stake in the golf equipment company. Jana said Callaway shares are "undervalued and represent an attractive investment opportunity," adding it plans to soon engage company management for talks about its strategic alternatives, including a potential sale or asset divestment.

In other sector news:

(+) RH (RH) raced 17% higher after the home furnishings retailer late Wednesday reported fiscal Q1 results exceeding Wall Street expectations and also raised its fiscal 2019 outlook. Excluding one-time items, it earned $1.85 per share during the three months ended May 4 on $598.4 million in net sales, beating the Capital IQ consensus by $0.32 per share and $14.7 million, respectively.

(-) Laureate Education (LAUR) slid almost 3% on Thursday after the for-profit educator said it priced a secondary offering of 10 million shares of its common stock previously owned by Wengen Alberta LP but did not provide the offering price or say how much its controlling shareholder received in gross proceeds.

(-) Tailored Brands (TLRD) declined over 3% on Thursday after the men's apparel company projected non-GAAP earnings for its current quarter ending in late July lagging Wall Street expectations. The company is looking for Q2 net income in a range of $0.65 to $0.70 per share, excluding one-time items, missing the Capital IQ consensus by at least $0.26 per share.

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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