Consumer discretionary stocks are those that are not essential for day-to-day living. This includes items like entertainment, travel, and luxury goods. Consumer discretionary stocks are typically more volatile than other stocks because they are often the first to be affected by economic downturns.
However, they can also outperform the market during periods of economic expansion. For example, people may cut back on their spending on non-essential items during a recession, but they may be more likely to spend on these items when the economy is doing well.
As a result, Consumer discretionary stocks can be a risky but potentially rewarding investment. Knowing this, here are three consumer discretionary stocks to watch in the stock market before December 2022.
Consumer Discretionary Stocks To Watch Right Now
- The Coca-Cola Company (NYSE: KO)
- Nike Inc. (NYSE: NKE)
- Netflix Inc. (NASDAQ: NFLX)
Coca-Cola Company (KO Stock)
Starting off, The Coca-Cola Company (KO) is an American multinational corporation that specializes in the manufacture and sale of non-alcoholic beverages. The company is best known for its flagship product, Coca-Cola, but it also sells a range of other beverages, including Sprite, Fanta, and Minute Maid.
KO Recent Stock News
In late October, the company announced a beat for its Q3 2022 financial results. In detail, Coca-Cola reported a 3rd quarter 2022 EPS of $0.69 per share and revenue for the quarter of $11.1 billion.
What’s more, the company also notched in a 10.2% increase in revenue versus the same period, the previous year. Also, Coca-Cola raised its FY 2022 guidance. In detail, the company said it now estimates Fiscal Year (FY) 2022 earnings of $2.46 to $2.48 per share. Previously, KO reported they expected FY 2022 earnings between $2.44 to $2.46 per share.
KO Stock Chart
Meanwhile, in the last month of trading action, shares of KO stock are up 3.49%. During Monday morning’s trading session, Coca-Cola stock is trading at $62.85 a share.
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Nike (NKE Stock)
Next, Nike (NKE) is one of the largest and most recognizable brands in the world. In short, the company manufactures and markets shoes, apparel, and athletic equipment. Specifically, Nike offers a wide range of products for both men and women, including running shoes, basketball shoes, training apparel, and more.
NKE Recent Stock News
Just last week, Nike announced that will release its second quarter 2023 financial results on Tuesday, December 20, 2022, after the market close. To quickly recap, during Q1 2023, Nike reported an EPS of $0.93, on revenue of $12.7 billion. Also this month, Nike announced that its Board of Directors has declared a quarterly cash dividend of $0.340 per share. This dividend reflects an 11% increase versus the previous quarter’s dividend which was $0.305 per share.
Additionally, John Donahoe, President, and CEO, of Nike, Inc commented, “Today’s announcement marks NIKE’s 21st consecutive year of increasing dividend payouts. This dividend increase illustrates the continued success of our Consumer Direct Acceleration strategy, as we invest in capabilities that are accelerating our digital transformation and fueling long-term profitable growth.”
NKE Stock Chart
Moving along, in the last month of trading, shares of NKE stock have started to rebound by more than 12%. Meanwhile, during Monday morning’s trading session, Nike stock is trading at $105.90 a share.
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Netflix (NFLX Stock)
Last but not least, Netflix, Inc. (NFLX) is an American technology and entertainment company. Netflix’s primary business is a subscription-based streaming service offering online streaming from a library of films and television series, including those produced in-house.
NFLX Recent Stock News
In October, Netflix announced a beat for its 3rd quarter 2022 financial results. Diving in, Netflix reported third-quarter 2022 earnings of $3.10 per share, along with revenue of $7.9 billion. What’s more, the company said it now estimates fourth-quarter 2022 earnings of approximately $0.36 per share, on revenue of approximately $7.77 billion.
NFLX Stock Chart
In the last month of trading, Netflix stock has pulled back by 2.90%. As of Monday morning’s trading session, shares of NFLX stock are trading at $287.62 a share.
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