Consumer Company Shares Flat on Mixed Earnings - Consumer Roundup

Published November 09, 2017
Dow Jones Newswires

Shares of retailers and other consumer-services companies were flat after a mixed batch of earnings. Shares of department store Macy's rose after it reported quarterly profit in excess of most investors' expectations. Rival department store Kohl's saw its shares tumble after quarterly profit lagged Wall Street targets. Shares of British luxury clothier Burberry Group slid after it said it doesn't expect sales growth until fiscal 2021, despite a rebound in earnings in the latest quarter thanks to Chinese demand. Mattel shares rose after investor Mario Gabelli said he was a buyer of the toy maker's shares, saying recent declines had given it a compelling valuation. A rally in shares of casino operator MGM Resorts in the wake of its earnings was warranted, according to one brokerage. "The upside in the third quarter suggests a market that was in much better shape going into the quarter than many investors were expecting," said analysts at brokerage Nomura Securities, in a research note. Shares of D.R. Horton, the largest U.S. home builder by volume, rose after it posted better-than-expected earnings in its latest quarter.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 09, 2017 16:22 ET (21:22 GMT)