Weekly Market Movers: Industrial Distribution on Top; Apparel and Manufacturing Drops

February 17, 2020

Last week, the sentiment for the Industrial Distribution industry jumped 55 points. Hyundai Corp and SiteOne Landscape Supply Inc. were among the leaders of the category with a sentiment score of 53 points and 33 points respectively.

Top Industry: Industrial Distribution

Hyundai signed a partnership agreement with California EV startup Canoo to create EV platforms based on the US company’s proprietary skateboard architecture for upcoming Hyundai and Kia models. Using Canoo’s architecture, Hyundai expects to have a standardized development process for its electrified vehicles.

SiteOne Landscape Supply reached a new 52-week high last Wednesday at $104.05. Many equities analysts issued reports on the company shares including a ‘hold’ rating from Zacks Investment Research, Deutsche Bank and UBS Group. The company will publish its quarterly earnings tomorrow with a current analysts’ estimate of $0.01 per share.

Flop Industry: Apparel and Manufacturing

Meanwhile, the sentiment for the Apparel and Manufacturing industry dropped 46 points during the week from Feb 10 – 16. Under Armour Inc and UniFirst Corp ranked bottom in the category. 

The sentiment for Under Armour reached -33 points last week. The company said the coronavirus outbreak in China would have a $50 million to $60 million hit on first-quarter sales. Under Armour’s CEO also mentioned that the supply chain impacts will be more visible later in the year as the company prepares for tighter supply of affected items.

UniFirst Corp was a target of short interest in January. As of January 31st, there was short interest totalling 296,300 shares, an increase of 11.9% since January 15th. Furthermore, CEO Steven S. Sintros sold 726 shares and VP David A. Difillippo sold 776 shares of the company’s stock in a transaction that occurred last week.

Notes:

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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