Sector Update: Consumer Stocks Slipping in Defensive Trade

Friday, November 8, 2019 1:16 PM | MT Newswires

Top Consumer Stocks

WMT -0.69%

MCD +0.33%

DIS +3.32%

CVS +1.39%

KO -0.25%

Consumer stocks were narrowly lower, with the shares of consumer staples companies in the S&P 500 falling more than 0.2% this afternoon while the shares of consumer discretionary firms in the S&P 500 were slipping over 0.1%.

Among consumer stocks moving on news:

(+) Yelp (YELP) rose more than 15% after the e-commerce platform late Thursday reported an 8.9% increase in its Q3 revenue over year-ago levels, rising to $262.5 million and narrowly beating the $262.1 million Capital IQ consensus call.

In other sector news:

(+) (STMP) climbed more than 15% on Friday after reporting adjusted Q3 net income of $1.12 per share, down sharply from $2.76 per share during the same quarter last year but still topping the Capital IQ consensus looking for a $0.72 per share non-GAAP profit. Revenue declined 5% from year-ago levels to $136.2 million, also exceeding the $123.2 million analyst mean.

(-) LivePerson (LPSN) dropped nearly 14% after the conversational e-commerce company reported a Q3 net loss of $0.41 per share, expanding on a $0.12 per share loss during the same quarter last year and missing the Capital IQ consensus expecting a net loss of $0.27 per share. The company also widened its projected FY19 net loss to a new range of $1.51 to $1.45 per share compared with the Street view expecting a $1.12 per share GAAP loss.

Price: 34.70, Change: +4.58, Percent Change: +15.21

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