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Consumer Sector Update for 01/29/2018: WMT, MCD, DIS, CVS, KO, DPS, NBEV, PEP, DEO

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Top Consumer Shares:

WMT: -0.2%

MCD: +0.2%

DIS: -0.07%

CVS: flat

KO: -0.1%

Consumer shares were mostly lower ahead of the opening bell on Monday.

Expected movers:

– Dr Pepper Snapple Group ( DPS ): surged 30% after the company said it has agreed to merge with privately held Keurig Green Mountain

– New Age Beverages ( NBEV ) rose 5% after it said it has formed a partnership with Simple Again to bring its products to juice bars and health clubs in the US

Other news:

– Pepsico ( PEP ): SunTrust initiates coverage for the company with a hold rating and $125 price target

– Diageo ( DEO ): received an investment-rating downgrade to sector perform from outperform from RBC Capital Markets

News from overseas:

– FTSE 250-listed convenience food company Greencore Group PLC (GNC.LN) unveiled the sale of its cakes & desserts business in Hull to Bright Blue Foods Ltd.

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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