Top Consumer Stocks
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Consumer stocks were broadly lower on Friday, with the shares of consumer staples companies in the S&P 500 falling more than 1.0% in afternoon trading while the shares of consumer discretionary firms in the S&P 500 were ahead 1.2%.
Among consumer stocks moving on news:
(+) Adient (ADNT) rose 31% after the auto-parts manufacturer Friday said it was selling its 30% stake in Yanfeng Global Automotive Interior Systems to joint venture partner Yanfeng Automotive Trim Systems for $379 million and also selling selected patents and other intellectual property to Adient Yanfeng Seating Mechanisms for an additional $20 million. The transactions are expected to close before the end of the year, subject to regulatory approvals and other customary closing conditions.
In other sector news:
(+) Amazon.com (AMZN) climbed 8% after late Thursday reporting Q4 net income and revenue exceeding Wall Street expectations. The online retail giant earned $6.47 per share during its December quarter following a 21% increase in sales over year-ago levels to $87.38 billion, topping the Capital IQ consensus looking for a $3.96 per share GAAP profit on $86.09 billion in sales.
(-) World Wrestling Entertainment (WWE) dropped nearly 23% after saying George Barrios and Michelle Wilson would immediately leave their jobs as co-presidents and directors at the pro wrestling company. The company late Thursday also named board member Frank Riddick III to be CFO on an interim basis and said it has become the search for a permanent finance chief.
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