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Consumer Sector Update for 01/24/2018: RCL,SRT,AMZN,JAX


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Top Consumer Stocks

WMT -0.75%

MCD -0.62%

DIS +0.22%

CVS +0.52%

KO +0.59%

Consumer stocks were starting to add to slight declines Wednesday afternoon, with shares of consumer staples companies in the S&P 500 sinking over 0.2% in afternoon trading while shares of consumer discretionary firms in the S&P 500 were falling nearly 0.4%.

Among consumer stocks moving on news:

+/- Royal Caribbean Cruises ( RCL ) sailed to a record high on Wednesday, rising at one point almost 6% to a best-ever $134.76 a share, after the vacation ocean-liner company reported above-consensus Q4 results. On both a GAAP and non-GAAP basis, the company earned $1.34 per share during the three months ended Dec. 31, up from $1.23 per share during the same quarter last year and beating the Capital IQ consensus by $0.03 per share. Revenue grew 4.7% year over year to $2.0 billion, also topping the $1.97 billion analyst mean. Looking forward, Royal Caribbean is modelling adjusted FY18 earnings in a range of $8.55 to $8.75 per share. The Street is at $8.65 per share.

In other sector news:

+ StarTek ( SRT ) rallied Wednesday, increasing almost 33% to a session high of $13.71 a share, after the customer-engagement company disclosed issuing an eight-year warrant to Amazon.com ( AMZN ) to buy up 4 million shares of its common stock at $9.96 apiece. According to a regulatory filing detailing the companies’ agreement, the warrant will vest after Amazon pays StarTek up to $600 million for commercial services provided to the ecommerce giant under an existing contract. If Amazon fully exercised the warrant, it would own about 19.9% of StarTek.

– J. Alexander’s ( JAX ) was falling Wednesday, dropping almost 3% to a session low of $9.93 a share after the restaurant chain said shareholders owning around 20% of the company’s stock have already signaled their support for its proposed acquisition of Ninety Nine Restaurant & Pub. The company is urging all shareholder vote in favor of the deal.

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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