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Sector Update: Consumer Stocks Down in Late Afternoon Trading
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Sector Update: Consumer Stocks Down in Late Afternoon Trading
Jul 15, 2024 1:12 PM

03:50 PM EDT, 07/15/2024 (MT Newswires) -- Consumer stocks were lower in late Monday afternoon trading, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) down 0.3%.

In corporate news, Coca-Cola (KO) is expected to achieve "solid" results in Q2, surpassing organic sales growth and earnings per share expectations and likely raising its 2024 EPS guidance, which should be well-received, Morgan Stanley said in a note Monday. Coca-Cola shares were down 0.3%.

B&G Foods ( BGS ) shares rose nearly 2% after it refinanced and amended a credit agreement to replace $507.3 million of outstanding tranche B term loans with $450 million of new tranche B term loans.

Trump Media & Technology ( DJT ) shares surged almost 33% after former President Donald Trump survived an assassination attempt during a campaign rally in Pennsylvania on Saturday.

Macy's (M) shares sank past 12% after the company said it terminated go-private talks with Arkhouse Management and Brigade Capital due to financing uncertainty and value concerns.

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