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Consumer stocks were ending near the bottom of Friday’s leaderboard, with shares of consumer staples companies in the S&P 500 dropping over 0.7% while shares of consumer discretionary firms in the S&P 500 turned in a 0.4% retreat.

In company news, Macy’s ( M ) shares have continued to lose ground this afternoon, periodically finding a new session low amid market talk would-be suitor Hudson’s Bay Company (HBC.TO) may be having trouble lining up the equity financing it would need to make a formal offer to the U.S. department-store retailer.

The venerable Canadian retailer approached Macy’s over a month ago about a potential takeover but has since found trouble finding an institutional investor to back up its bid, people familiar with the situation told Reuters. Macy’s currently is not in talks for a possible transaction, the sources said, adding the company is becoming increasingly skeptical Hudson’s Bay will actually make an offer.

Reuters also was reporting Hudson’s Bay has convinced one wealthy family to take a piece of the deal but said other equity investors such as mall operator Simon Property Group ( SPG ) are relunctant to sign on, believing a Macy’s buyout would require them to invest more money in mall real estate at a time when many investors are shunning mall-based retailers because of the consumer trend to online shopping.

M shares were down almost 4.5% at $31.74 each this afternoon, recently falling to a session low of $31.18 a share. HBC.TO shares were down about 3% at C$11.88 in late Friday trade at the Toronto Stock Exchange.

In other sector news,

(+) HABT, Non-GAAP Q4 EPS of $0.07, beating the Capital IQ consensus by $0.04 per share. Net sales increase 21.9% over last year to $73.9 mln, also edging out the $73.29 mln consensus. Projected FY17 sales of $338 mln to $342 mln straddle Street view.

(-) AOBC, Q3 sales rise 10.8% to $233.5 mln but still lag the $235.06 mln analyst mean. Non-GAAP EPS of $0.66 tops Street view by $0.10 per share.

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