Top Consumer Stocks
Consumer stocks have turned mixed again shortly before Wednesday’s closing bell, with shares of consumer staples companies in the S&P 500 riding a 0.1% decline and giving back a short-lived bounce above their break-even marks, while shares of consumer discretionary firms in the S&P 500 continued to stretch out their prior gains to almost 0.7%.
In company news, Mondelez ( MDLZ ) slid to a 17-month low on Wednesday, with shares of the snack foods company sinking almost 4% to their lowest price since May 2016 at $40.39 each after Berkshire Hathaway (BRK.A,BRK.B) board chairman Warren Buffett threw cold water on speculation Kraft Heinz ( KHC ) may be interested in the one-time Kraft spinoff.
Asked during a television interview on CNBC today whether he was interested in a potential deal for Mondelez, Buffett answered with a simple “no.”
In other sector news,
(+) BOBE, Adjusted fiscal Q1 EPS of $0.37 matches Street views. Revenue rises to $109.3 mln from $85.9 mln during the year-ago period, also exceeding the $102.3 mln consensus. Raises FY18 EPS outlook above $2.17 per share analyst mean; also increases revenue forecast.
(-) BNED, Fiscal Q1 net loss widens to $0.75 per share from $0.60 per share in the year-ago period, missing the $0.59 per share Street call. Net sales increase 48.7% to $355.7 mln, also lagging the $406.2 mln consensus.
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