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May 6, 2021, 1:50 p.m. EDT

Best Stocks To Buy Now? 4 Consumer Discretionary Stocks In Focus

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May 06, 2021 (StockMarket.com via COMTEX) -- Are These The Best Consumer Discretionary Stocks To Invest In Now?

For new investors, the question of "how to know what stocks to buy" is not often one with a clear answer. However, consumer discretionary stocks appear to be heating up on the stock market today . What do these two have in common? Well, to begin with, most new investors would be familiar with consumer discretionary companies and their offerings. Big names such as Nike ( NYSE: NKE ) or Amazon ( NASDAQ: AMZN ) would be household names that most people know of today. As such, newer investors could be more inclined to invest in consumer discretionary stocks based on general consumer spending trends which they understand.

At the same time, seasoned investors could also be looking towards this industry as well. Namely, this would be because of the ever-growing list of signs pointing towards broader economic recovery now. Earlier today, it was announced that U.S. weekly jobless claims continue to decline at 498,000 this week. This marks the first time the figure has been below 500,000 since the pandemic started last March. Meanwhile, private employment figures remain on the rise as well.

By and large, all this could lead to consumers having more discretionary funds to spend which bodes well for the industry. Having read this far, you might be interested to invest in some top consumer discretionary stocks yourself. In that case, here are four making headlines on the stock market right now.

Top Consumer Discretionary Stocks To Watch

AB InBev SA

AB InBev is a multinational drink and brewing company that is based in Leuven, Belgium. Its portfolio includes approximately 630 beer brands in 150 countries. The company's brand portfolio includes global brands like Budweiser, Corona, and Stella Artois. BUD stock currently trades at $74.96 as of 12:54 p.m. ET and has been up by 5.27% on today's opening bell. Investors seem to be responding to news of the brewer picking Michel Doukeris as its next CEO. The company also just reported its first-quarter results today.

In it, total volumes for the quarter are up by 13.3%. The company reports that it is reaching more customers with a diverse portfolio and has enjoyed share gains in core and value segments. Both premium and Beyond Beer revenue grew by double-digits. In detail, its premium beer portfolio grew revenue by 28% in the first quarter.

Beyond Beer in particular is expected to grow to a $58 billion category by 2024. Total revenue for the quarter was also up by 17.2% and its normalized earnings per share are $0.55 for the quarter. All things considered, will you buy BUD stock?

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ViacomCBS Inc.

Viacom is a diversified multinational mass media conglomerate that is headquartered in New York City. In essence, the company delivers premium content to audiences across traditional and emerging platforms worldwide. It operates over 170 networks and reaches approximately 700 million subscribers in over 180 countries. VIAC stock currently trades at $38.08 as of 12:54 p.m. ET and has been up by 140% in the last year. The company reported its first-quarter results today.

Diving in, its global streaming revenue grew by 65% year-over-year, fueled by strong increases in user and product monetization. It also added 6 million global streaming subscribers to reach 36 million total subscribers in the quarter. Total revenue for the quarter was a whopping $7.41 billion, a 14% increase year-over-year. Viacom also reported a diluted earnings per share of $1.42 for the quarter. It ended the quarter with a free cash flow of $1.58 billion. With such strong financials, will you consider buying VIAC stock for the long run?

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