Sector Update: Consumer Stocks Largely Retreating With Broader Tuesday Markets
01:09 PM EDT, 05/11/2021 (MT Newswires) -- Consumer stocks were sinking in Tuesday trading, with the SPDR Consumer Staples Select Sector ETF retreating 1.3% while the SPDR Consumer Discretionary Select Sector ETF was declining 1.6%.
In company news, Hanesbrands (HBI) dropped over 14% after Tuesday projecting non-GAAP Q2 net income and revenue trailing Wall Street forecasts and also issuing below-consensus FY21 guidance.
JELD-WEN Holding (JELD) fell more than 10% after the home-building products company disclosed plans for a secondary offering of 10 million common shares owned by Canadian conglomerate Onex (ONEX.TO) and reducing its equity stake by over 40% to 14.9 million JELD-WEN shares.
International Game Technology (IGT) rose over 15% after the casino equipment company reported a surprise Q1 profit, earning $0.44 per share and beating the Capital IQ consensus expecting a $0.07 per share net loss. Revenue grew 25.3% year over year to $1.02 billion, over topping the $876.2 million Street view.