Top Consumer Stocks
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Consumer stocks turned mixed Tuesday afternoon, with the shares of consumer staples companies in the S&P 500 slipping 0.3% this afternoon while the shares of consumer discretionary firms in the S&P 500 were posting a 0.1% gain.
Among consumer stocks moving on news:
(+) Kroger (KR) was nearly 6% higher shortly ahead of Tuesday’s closing bell after a regulatory filing late Friday showed Berkshire Hathaway (BRK.A,BRK.B) took a new equity stake in grocery store chain. According to the 13F-HR quarterly holdings filing, Berkshire acquired 18.9 million Kroger common shares during the three months ended Dec. 31, paying at $28.99 each.
In other sector news:
(+) GSX Techedu (GSX) rose 8.9% after the Chinese K-12 tutoring company reported sharply improved Q4 financial results also exceeding Wall Street estimates and forecast Q1 revenue above analyst projections. The company earned RMB0.70 per American depositary share during the three months ended Dec. 31, up from RMB0.06 per ADS last year, while revenue grew 413% year-over-year to RMB935 million. Analysts, on average, had been looking for an RMB0.58 GAAP profit on RMB849.3 in revenue, according to Capital IQ.
(+) Advance Auto Parts (AAP) climbed 6.6% after the retailer reported adjusted Q4 net income of $1.64 per share, up from $1.17 per share during the year-ago period and easily topping the Capital IQ consensus for $1.35 per share non-GAAP profit.
(-) Conagra Brands (CAG) slid 6% after the packaged foods company lowered its FY20 earnings and sales outlook below analyst estimates following weaker-than-expected sales during the recent holiday season and the first month of 2020. Excluding one-time items, it is projecting net income in a range of $2.00 to $2.07 per share, down from its prior forecast expecting $2.07 to $2.17 per share and lagging the Street view expecting $2.09 per share.
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