Consumer Sector Update for 11/21/2019: BERY,GSX,IPAR

Top Consumer Stocks

WMT +0.33%

MCD -0.76%

DIS -0.16%

CVS +0.21%

KO -0.67%

Consumer stocks were mostly lower on Thursday, with shares of consumer staples companies in the S&P 500 falling nearly 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were dropping almost 0.3%.

Among consumer stocks moving on news:

(+) Berry Global Group (BERY) rose 11.6% on Thursday after the consumer packaging company reported non-GAAP net income of $0.90 per share, unchanged from the same quarter last year but still topping the Capital IQ consensus.

In other sector news:

(+) GSX Techedu (GSX) climbed almost 9% after the Chinese online for-profit educator priced an upsized public offering of 18 million American depositary shares previously held by selected investors at $14 each, or 3.9% below Wednesday's closing price. Underwriters also received a 30-day option to buy up to 2.7 million additional ADS from the selling shareholders.

(-) Inter Parfums (IPAR) fell more than 12% after the fragrance company set its initial FY20 guidance, projecting net income of around $2.00 per share on $742 million in revenue, below the Capital IQ consensus looking for a $2.17 per share profit next year on $764.40 million in revenue.

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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