Weekly Market Movers: Discount Stores on Top; Airlines Drop

August 19, 2019

Last week, discount stores observed an increase in overall sentiment, jumping from -18 to a positive 36. Main drivers included Costco Wholesale and Walmart. Costco Wholesale announced its quarterly dividend of 0.65 per share on Tuesday.

Walmart, on the other hand, saw a sentiment increase of 18 points as the retailer reported strong Q2 results and raised its earnings expectations for the year.

At the same time, the airline industry witnessed a sentiment drop from 18 to -29. Industry movers included Air Berlin and Ryanair, but the main drop was driven by Cathay Pacific Airways and Jet Airways (India).

Last Friday, Cathay Pacific Airways’s CEO, Rupert Hogg, announced his resignation as the company faced pressure from Beijing over the employee’s participation in the anti-government protest in Hong Kong.

Jet Airways (India), which has stopped flight operations since April 18, 2019, and is currently undergoing a corporate insolvency resolution process, announced that the communication of its financial results is delayed due to data unavailability. This was a key factor in the major downward trend in their sentiment score.


1 Companies that contributed most to last week’s industry sentiment change.

2  Top trending event related to the respective company.

3  Weekly aggregated company sentiment score (ranging from -100 to +100).

4  Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).

*Industry name and classification as per Morning Star

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