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Consumer Sector Overview for the Week of September 25–29

PART:
1 2 3 4 5
Part 3
Consumer Sector Overview for the Week of September 25–29 PART 3 OF 5

Top Losers in the Consumer Sector: September 25–29

Top losers in the consumer sector

Before the market opened on September 28, Kellogg (K) announced that its current CEO John A. Bryant decided to retire. The company’s board of directors unanimously elected Steven A. Cahillane as the new CEO effective on October 2, 2017. Previously, Cahillane was the president and CEO of Nature’s Bounty Company. Kellogg’s shares fell 1.6% last week. Its shares have fallen 15.4% YTD (year-to-date) as of September 29.

Top Losers in the Consumer Sector: September 25–29

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On September 27, Raymond James downgraded Walgreens Boots Alliance (WBA) stock to “market perform” from “outperform.” The stock fell 1.5% last week.

Last week, Goldman Sachs reduced the target price for Molson Coors Brewing Company’s (TAP) stock to $104 from $105. Credit Suisse also cut the target price to $92 from $96 with a “neutral” rating. The stock fell 1.4% last week.

TripAdvisor’s shares fell ~9.0% last week after Guggenheim Partners cut its estimates for the company. Guggenheim Partners cited increased competition from Priceline (PCLN). Guggenheim analyst Jake Fuller lowered his 2H17 revenue growth estimates for the company from 7% to 5%. He expects the cost-per-click revenue to fall 1.6% instead of rising 1.5%. He maintained a “neutral” rating on the stock. Later in the week, Cowen and Company cut the target price for the stock to $38 from $42 with a “market perform” rating.

Darden Restaurants (DRI) announced its fiscal 1Q18 results on September 26, 2017, before the market opened. Earnings of $0.99 per share increased in the first quarter and were in line with analysts’ estimate. The adjusted EPS rose 12.5% year-over-year. The revenue surpassed estimates by 0.26%. The revenue for the quarter rose 12.9% year-over-year to $1.94 billion in 1Q18. The stock fell 4.9% last week.

Nike (NKE) reported its fiscal 1Q18 results on September 26, 2017, after the market closed. The company posted EPS (earnings per share) of $0.57 in fiscal 1Q18—a decrease of 21.9% compared to EPS of $0.73 in fiscal 1Q17. The company reported revenue of $9.07 billion in fiscal 1Q18—a slight increase of 0.1% compared to fiscal 1Q17. The revenue missed analysts’ estimates by 0.1%, while the EPS surpassed estimates by 19.0%. The stock fell 2.6% last week.

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