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Analyzing the Consumer Sector’s Underperformers Last Week

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Underperformers on August 6–10

Kraft Heinz (KHC) fell 7.5% last week after a few brokerage firms reduced the stock’s target price. RBC cut the target price to $73 from $74. Jefferies cut the target price to $75 from $80.

Newell Brands (NWL) released its second-quarter results on August 6 before the market opened. The company’s revenues for the quarter fell 8.0% YoY (year-over-year) to $3.7 billion and missed the estimates by 2.6%. Newell Brands’ earnings fell 5.7% YoY to $0.82 per share and exceeded the forecast of $0.77 per share. The stock fell 21.6% last week.

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News Corporation (NWSA) released its third-quarter results on August 10 after the markets closed. The company’s revenues for the quarter rose 29.5% YoY to $2.7 billion and beat the estimates by 1.6%. News Corporation’s earnings fell 27.3% YoY to $0.08 per share and beat the estimate of $0.06 per share. The stock fell 12.5% last week.

Delphi Technologies (DLPH) released its second-quarter results on August 8 before the market opened. The company missed the revenue estimate of $1.2 billion and reported revenues of $1.23 billion. However, Delphi Technologies’ earnings of $1.29 per share beat analysts’ estimate of $1.24. The stock declined 8.7% last week.

Booking Holdings (BKNG) released its second-quarter results on August 9 before the market opened. The company’s revenues for the quarter rose ~17.0% YoY to $3.5 billion and beat the estimates by ~3.0%. Booking Holdings’ earnings increased 36.5% YoY to $20.6 per share and beat the estimate of $17.3 per share. The stock fell 6.5% last week.

Marriott International (MAR) released its second-quarter results on August 9 before the market opened. The company’s revenues for the quarter rose by ~17.0% YoY to $3.5 billion and beat the estimates by ~3.0%. Marriott International’s earnings increased 36.5% YoY to $20.6 per share and beat the estimate of $17.3 per share. The stock fell 6.3% last week.

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