Top Consumer Stocks
Consumer stocks were broadly mixed, with shares of consumer staples companies in the S&P 500 sinking nearly 0.7% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead over 0.4%.
Among consumer stocks moving on news:
(-) 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.
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.
(-) 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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