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Consumer Sector Update for 01/18/2018: AMZN,FAT,EA,UQM

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Top Consumer Stocks

WMT +0.85%

MCD +0.10%

DIS +1.33%

CVS -0.30%

KO +0.24%

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: ( 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.

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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