Consumer Sector Update for 09/12/2019: ANGI,CELH,LKQ,MIK

Top Consumer Stocks

WMT +0.85%

MCD +1.34%

DIS +0.96%

CVS +0.02%

KO +0.83%

Consumer stocks were ending mostly higher, with shares of consumer staples companies in the S&P 500 climbing over 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead just over 0.7%.

Among consumer stocks moving on news:

(-) ANGI Homeservices (ANGI) slipped 3.5% this afternoon. The company said it has promoted Michael Wanderer to chief people officer, effective immediately. He joined the company last year from Handy Technologies, which was acquired by ANGI Homeservices in October 2018.

In other sector news:

(+) LKQ Corp (LKQ) climbed over 12% after ValueAct Capital disclosed a 5.2% equity stake in the auto-parts manufacturer and said it was continuing talks with LKQ management on a range of issues, including whether it "makes sense" for a ValueAct employee to join the company's board.

(-) The Michaels Cos (MIK) fell 5.5% after S&P late Wednesday cut its outlook for the retailer to negative, citing the impact of tariffs and the risk of soft consumer spending. The ratings shop also reaffirmed its BB- credit rating for the company.

(-) Celsius Holdings (CELH) dropped more than 13% on Thursday after the fitness beverages company priced 6.94 million shares at $3.60 each, or 13.7% below its last closing price. Net proceeds will fund its acquisition of Func Food.

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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