Consumer Sector Update for 01/18/2018: FAT, UQM, EAE
Top Consumer Stocks
Consumer stocks still were narrowly mixed Thursday, with shares of consumer staples companies in the S&P 500 dropping over 0.3% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were climbing about 0.1%.
Among consumer stocks moving on news:
– FAT Brands ( FAT ) retreated again on Thursday after the restaurant-chain company announced its international expansion through a partnership aiming to open three, co-branded Fatburger and Buffalo Express restaurants in Scotland over the next five years. The first restaurant is scheduled to open later this year, the company said.
FAT Brands’ stock closed 5.5% lower on Wednesday after announcing plans for a $50 million offering of non-convertible preferred stock and warrants to buy additional common shares and using the net proceeds to fund its purchase of Hurricane Grill & Wings as well as repaying outstanding debt.
In other sector news:
+ UQM Technologies ( UQM ) rose Thursday after the electric motor manufacturer said it has received a $1.2 million order for its explosion-proof e-drive system from Keshi, which produces commercial mining vehicles in China.
+ Electronic Arts advanced after analysts at Bernstein began coverage of the electronic-games company with an Outperform Rating and a $139 price target.
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