Consumer stocks are moderately higher, with shares of consumer
staple companies in the S&P 500 climbing 0.3% while shares of
consumer discretionary stocks in the S&P are advancing
In company news, Coty Inc (
) is down nearly 7% at $15.15 a share, just 3 cents above its new
52-week low that followed the beauty-products company's reporting
fiscal Q4 earnings of $0.03 per share, beating estimates by
Revenue also came in slightly above consensus, but COTY said it
sees revenue in the current quarter slipping marginally compared to
a year ago on top of a slow-down in market share in the U.S. and
Europe over the past few months.
In other sector news,
(+) DAL, (+0.2%) JPMorgan Chase raises the airline to Overweight
from Neutral, noting increasing margins.
(-) CAG, (-0.9%) JPMorgan Chase cuts its rating on the food
producer's shares to Neutral from Overweight, one day after the
company sold its Lightlife meatless product line.
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