Top Consumer Stocks
Consumer stocks were little changed in late trade, with shares of consumer staples companies in the S&P 500 climbing less than 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were down less than 0.1%, reversing a prior gain.
Among consumer stocks moving on news:
(-) Tata Motors Group ( TTM ) fell over 4% on Friday after the Indian autormaker reported a 13.9% drop to 100,551 vehicles in total wholesales during December compared with the year-ago period. Commercial vehicle wholesales declined 14% year over year to 40,653 while passenger vehicle wholesales totaled 59,898 last month, also off 14% from December 2017.
In other sector news:
(+) General Motors Co ( GM ) raced 7% higher on Friday after the automaker offered an upbeat outlook, saying its FY18 earnings should come in ahead of forecasts and predicted even more growth in Y19, projecting net income this year in a range of $6.50 to $7 per share. The Street is expecting GM to earn $5.88 per share in FY19, according to Capital IQ.
(+) Anheuser-Busch Inbev ( BUD ) was ahead more than 4% on Friday after Bloomberg reported that it was mulling an initial public offering of its Asian business which could raise over $5 billion.
(-) Vail Resorts ( MTN ) dropped as much as 15% after the ski resorts company's CEO said North American guest visits during the pre-holiday period between Dec. 1 to Dec. 21 were "much lower than anticipated." The company also said full year earnings before interest, taxes, depreciation and amortization will be slightly below the low end of its prior forecast expecting at least $718 million in EBITDA.
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