Markets

Sector Update: Consumer

Consumer stocks were higher Friday with shares of consumer staples companies in the S&P 500 rising 0.5%. Shares of consumer discretionary firms in the S&P 500 were up 0.7%.

In company news, Monster Beverage Corp ( MNST ) was higher Friday after the energy-drink company last night reported Q2 earnings that beat analyst estimates and nearly 9% revenue growth.

MNST shares were up nearly 6% in mid-day trade at $68.95 apiece, earlier advancing to a session high of $71.20 a share. The stock has traded within a 52-week range of $51.75 to $75.63 a share, rising about 9% over the past 12 months.

The company earned $0.81 per share, beating the Capital IQ consensus by $0.06. Revenue rose 8.9% year over year to $687.2 mln, roughly matching the $693.9 mln consensus.

MNST management said the Q2 bottom line was again impacted by expenses tied to regulatory matters and litigation concerning the advertising, marketing, promotion, ingredients, usage, safety and sale of the company's Monster Energy brand energy drinks, rising to $7.9 million during the latest quarter, up 88% over year-ago levels.

In other sector news,

(+) MELI, (+14.8%) Q2 adjusted EPS of $0.72 tops estimates by $0.16 per share. Revenue rises 17.5% year over year to $131.8 mln, beating Capital IQ consensus by $20.46 mln.

(-) POST, (-18.4%) Expands peanut butter operations with $128 mln acquisition of American Blanching. Deal is expected to contribute around $135 mln in net sales and between $14 mln to $16 mln of adjusted EBITDA on full-year basis.

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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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