Main consumer stocks
WMT + 0.1%
MCD + 3.5%
DIS + 2.8%
CVS + 1.1%
KO + 3.1%
Consumer stocks generally ended higher, the SPDR Consumer Staples Select Sector ETF climbing 1.4% Thursday afternoon while the SPDR Consumer Discretionary Select Sector ETF was up 1.6%.
Among the consumption values evolving on the news:
(-) Yelp (YELP) has dropped nearly 10% after it announced a “painful but necessary” series of cost-cutting measures on Thursday, saying it will cut 1,000 jobs and cut another 1,000 workers at amid the sharp drop in customer interest in its online business reviews since. March 10 due to the COVID-19 pandemic. He estimated that the actions for employment could result in charges of $ 8-10 million on his future profits.
In other sector news:
(+) Nautilus Group (NLS) rose nearly 58% after the exercise equipment maker announced on Wednesday that it expected to report about $ 94 million in net sales in the first quarter, up by 11% compared to the same period of the previous year and by building up the Capital IQ consensus seeking sales of $ 75 million.
(+) Mohawk Group Holdings (MWK) climbed nearly 11% after announcing preliminary Q1 sales of $ 25-26 million on Thursday, saying that “stronger demand” from Amazon.com (AMZN) had contributed year over year. sales increase up to 46%. Analysts on average expected $ 23.4 million in revenue for the quarter ended March 31.
(-) John Wiley & Sons (JW-A, JW-B) fell 8.4% after the educational publisher announced Thursday that it was lowering its financial outlook for 2020 and suspending its share buyback program due to the impact of the ongoing COVID-19 pandemic on his business. The company now projects non-GAAP net earnings in the range of $ 2.15 to $ 2.30 per share on revenue between $ 1.81 billion and $ 1.83 billion, down from his previous forecast, looking for adjusted earnings of $ 2.45 to $ 2.55 per share on $ 1.86 billion to $ 1.89. billion in revenue.
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