Top Consumer Stocks
Consumer stocks were finishing broadly mixed, with shares of consumer staples companies in the S&P 500 sinking just over 0.7% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead nearly 0.4%.
Among consumer stocks moving on news:
(+) China Eastern Airlines Corp ( CEA ) rose almost 6% on Friday after disclosing plans for privately held CES International to acquire the purchase rights for an additional two Boeing ( BA ) B737-800 jet aircraft from the company, assuming all financial responsibility for the purchases and also agreeing to lease both aircraft back to China Eastern. As part of the upcoming transaction, Boeing will refund the deposits for the two jets paid by China Eastern when it agreed to buy 50 aircraft from the manufacturer in July 2015 in a single lump sum, the company said in new regulatory filing.
In other sector news:
(+) The Trade Desk ( TTD ) soared 32% higher after the digital advertising platform earned $1.09 per share during its Q4 ended Dec. 31, improving on a $0.54 per share profit during the final three months in 2017 and beating the Capital IQ consensus by $0.30 per share. Revenue grew 56.4% year over year, rising to $160.5 million from $102.6 million during the year-ago period, also topping the $148 million analyst mean.
(-) Kraft Heinz Co. ( KHC ) plunged as much as 28% to a record low of $34.51 per share after late Thursday saying it received a subpoena from the US Securities and Exchange Commission in October seeking information about procurement accounting and other internal controls at the condiments and grocery products company. Shares also were under pressure after Kraft Heinz reported Q4 net income and sales trailing Wall Street estimates.
(-) Stamps.com ( STMP ) fell to its lowest share price since July 2016, dropping nearly 58% to $83.84 each, after the online stamp seller said it was ending its shipping partnership with the US Postal Service. The company also issued a dismal FY19 outlook, projecting non-GAAP net income in a range of $5.15 to $6.15 per share, trailing the Capital IQ consensus expecting adjusted FY19 earnings of $10.79 per share.
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