Consumer Sector Update for 01/26/2018: AMZN,KR,SBUX,NBEV,CL,KR


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Top Consumer Stocks

WMT +1.28%

MCD +1.55%

DIS +1.39%

CVS +0.44%

KO +1.54%

Consumer stocks turned solidly higher this afternoon, with shares of consumer staples companies in the S&P 500 climbing just more than 0.4% while shares of consumer discretionary firms in the S&P 500 were climbing nearly 0.8%.

In industry news:

Anti-trust regulators in the U.S. Department of Justice reportedly are near a deal that would allow the proposed $3.9 bln Sinclair ( SBGI ) – Tribune ( TRCO ) merger to go through, accepting the companies’ planned station divestitures to resolve competition issues. Official word was expected as soon as Friday or early next week, a source familiar with the deal process told Broadcasting and Cable.

Among other consumer stocks moving on news:

Amazon.com’s ( AMZN ) share price pushed past $1,400 for the first time ever on Friday, topping out at $1,400.06 a share, amid reports the online retailer recently met with privately held bulk grocery seller Boxed.com to discuss a potential buyout. It met with Boxed.com CEO Chieh Huang on Wednesday at its Seattle headquarters, according the New York Post. Boxed.com previously was linked to possible bid by grocery store retailer ( KR ), which was said to offer between $300 mln to $400 mln for the four-year-old internet concern. The bid was rejected.

In other news:

+ New Age Beverages ( NBEV ) raced almost 12% higher Friday to a session high of $4.15 a share after the company bega nationwide distribution of its new Coco-Libre Sparkling and gained authorization to bring the beverage into more than 9,500 outlooks, including grocery and convenience stores, warehouse and military sellers and pharmacy retailers.

– Colgate-Palmolive (CL) fell to a session low of $72.57 a share, sliding almost 6%, after the company posted a 4.5% year over year increase in Q4 revenue to $3.89 bln but still lagged the Capital IQ consensus by $30 mln. Excluding one-time items, the company earned $0.75 per share, unchanged from last year and matching the analyst mean.

– Starbucks (SBUX) dropped as much as 5% on Friday after the firm reported a 6% increase in fiscal Q1 total sales over the same quarter last year to $6.07 bln but still trailed Wall Street estimates by around $110 mln. Global and U.S. same-store sales rose 2%. Excluding one-time items (including a $0.07 per share benefit resulting from recent tax legislation), the company earned $0.65 per share compared to $0.52 per share last year and beating analyst projections by $0.08 per share.

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