Consumer Sector Update for 09/10/2019: LAUR,SHOP,SHOP.TO,WEN

Top Consumer Stocks

WMT -0.3%

MCD -3.4%

DIS -1.68%

CVS +0.28%

KO -0.74%

Consumer stocks were lower, with shares of consumer staples companies in the S&P 500 sinking 0.8% this afternoon while shares of consumer discretionary firms in the S&P 500 were dropping 0.7%.

Among consumer stocks moving on news:

(-) Laureate Education (LAUR) fell 8% on Tuesday after the for-profit educator said Wengen Alberta LP would be selling 15 million shares of its common stock through an upcoming public offering. The company also is expecting a delay in the sale of its Inti subsidiary past the end of the year will cause a "one-time negative impact" of around $30 million to its FY19 free cash flow, according to a regulatory filing late Monday.

In other sector news:

(-) Shopify (SHOP) declined 6% after the Canadian e-commerce platform late Monday announced its $450 million acquisition of 6 River Systems. Under terms of the proposed transaction, Shopify will pay $270 million - or 60% of the purchase price - in cash, and will also issue $180 million of its Class A shares for the collaborative warehouse fulfillment services company.

(-) Wendy's Co (WEN) tumbled over 12% on Tuesday after the restaurant chain lowered its FY19 earnings outlook, citing the expected cost of introducing a new breakfast menu next year throughout the US. Excluding one-time items, the company is expecting net income to fall between 3.5% to 6.5% compared with FY18 levels, down from its previous forecast expecting a 3.5% to 7% increase and indicating an adjusted profit in a range of $1.76 to $1.81 per share for the 12 months ending Dec. 29 based on its $1.88 per share in non-GAAP net income last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More