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Sector Update: Consumer Staples Stocks Giving In To Late Tuesday Selling

05/11/2021 11:55

03:53 PM EDT, 05/11/2021 (MT Newswires) -- Consumer stocks continued to sputter late in Tuesday trading, with the SPDR Consumer Staples Select Sector ETF posting a 1.1% retreat while the SPDR Consumer Discretionary Select Sector ETF was declining 1.1%.

In company news, CarLotz (LOTZ) tumbled more than 15% after the used vehicle seller reported a Q1 net loss of $0.15 per share compared with its $0.03 per share loss during the first three months of 2020.

Hanesbrands (HBI) dropped over 11% 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 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.

To the upside, International Game Technology (IGT) rose almost 17% 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, topping the $876.2 million Street view.