19 Jan Consumer Sector Update for 01/18/2018: AMZN,FAT,EA,UQM
Top Consumer Stocks
Consumer stocks were ending broadly higher today, with shares of consumer staples companies in the S&P 500 edging less than 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were climbing almost 1.3%.
Among consumer stocks moving on news:
Amazon.com ( AMZN ) was holding on to a slim rise late in Thursday trading after the online retailer pared its list of potential locations for a second company headquarters to 19 U.S. cities as well as a lone Canadian contender. The company received proposals from 238 cities throughout North America and is now promising to “dive deeper” into the remaining 20 bids to evaluate “the feasibility of a future partnership that can accommodate” Amazon demands for the estimated $5 bln project and up to 50,000 new employees.
The candidate list now consists of Atlanta; Austin, Texas; Boston; Chicago; Columbus, Ohio; Dallas; Denver; Indianapolis; Los Angeles; Miami; Montgomery County, Maryland; Nashville; Newark; New York City; Northern Virginia; Philadelphia; Pittsburgh; Raleigh, North Carolina; Toronto, and Washington, DC.
In other sector news:
+ UQM Technologies ( UQM ) rose Thursday after the electric motor manufacturer today said it has received a $1.2 mln order for its explosion-proof e-drive system from Keshi, which produces commercial mining vehicles in China.
+ Electronic Arts advanced today after analysts at Bernstein today began coverage of the electronic-games company with an Outperform Rating and a $139 price target.
– FAT Brands ( FAT ) retreated again on Thursday, adding to a 5.5% Wednesday decline, despite the restaurant-chain company today announcing its international expansion through a partnership aiming to open the first of three, co-branded Fatburger and Buffalo Express restaurants in Scotland later this year. The stock fell yesterday after the company disclosed plans for a $50 mln offering of non-convertible preferred stock and warrants to buy additional common shares.
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