Consumer Sector Update for 08/29/2017: ANMOVFINL

Top Consumer Stocks

WMT +1.03%

MCD -0.28%

DIS +0.06%

CVS +0.82%

KO +0.09%

Consumer stocks were ending mixed this afternoon, with shares of consumer staples companies in the S&P 500 rising almost 0.4% while shares of consumer discretionary firms in the S&P 500 were slipping less than 0.1% just before the closing bell.

In company news, AutoNation ( AN ) was narrowly lower Tuesday afternoon, improving slightly from its session lows of $41.70 a share earlier today that followed reports the auto seller has closed 18 dealerships in the greater Houston area this week due to extreme flooding in the wake of Tropical Storm Harvey.

Adding to the company's weather-related woes, CNBC also was reporting it was likely hundreds of cars on AutoNation lots have received severe water damage.

In other sector news,

(+) MOV, Retains quarterly cash dividend of $0.13 per share, payable Sept. 25 to shareholders of record on Sept. 11. Also authorizes a new stock buyback program to repurchase up to $50 mln of its common shares.

(-) FINL, Net sales fall 3.3% to $469.4 mln, trailing $477.7 mln consensus. Lowers FY17 forecast, now expects comp-store sale to decline 3% to 5% vs. prior call expecting a dip in the lower-single percentage digits. Projected EPS lags $1.11 consensus by at least $0.51 per share. Cut to the equivalent of Sell at Buckingham Research, Citigroup and FBR & Co.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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