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Sector Update: Consumer Stocks Mixed in Afternoon Trading
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Sector Update: Consumer Stocks Mixed in Afternoon Trading
Jun 27, 2024 11:22 AM

01:54 PM EDT, 06/27/2024 (MT Newswires) -- Consumer stocks were mixed Thursday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.4% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.6%.

In corporate news, McCormick ( MKC ) is maintaining its full-year outlook amid improving volume trends as fiscal Q2 results came in better than expectations. Its shares jumped 5%.

Levi Strauss (LEVI) kept its outlook for full-year revenue growth, but said the result is now expected in the middle of the range after the outcome in Q2 missed estimates, despite growing 8% year over year. Its shares sank past 16%.

Simply Good Foods' ( SMPL ) fiscal Q3 revenue rose less than expected, while earnings outperformed analysts' estimates as the company lifted its full-year outlook for core profitability. Its shares were down 1%.

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