Top Consumer Stocks
Consumer stocks were unchanged to slightly higher in Tuesday early market.
In industry news:
The Redbook weekly survey of same-store sales at 20 of the largest chain stores during the seven days ended July 7 is due out at 8:55 am ET, following a 4.4% rise during the prior week, although month-over-month sales remained on negative ground during the week ended June 30.
Among consumer stocks moving on news:
+ Differential Brands Group ( DFBG ) jumped over 19% ahead of Tuesday's opening bell after saying its Robert Graham subsidiary has signed a licensing agreement with Peerless Clothing International to manufacture and distribute Robert Graham men's and boys' tailored clothing, suit separates and top coats. Peerless will start distributing product throughout the United States and Mexico by the spring of 2019, with the new collection to be sold in high-end department stores and luxury specialty stores, alongside Robert Graham consumer direct channels.
In other sector news:
+ PepsiCo ( PEP ) climbed just over 3% in Tuesday's pre-market trading after reporting improved non-GAAP earnings and revenue and also exceeding Wall Street expectations. Excluding one-time items, the soft-drink beverage company earned $1.61 per share during the three months ended June 16, up from $1.50 during the same quarter last year and topping the Capital IQ consensus by $0.08 per share. Total revenue grew to $16.09 billion from $15.71 billion during the year-ago period, also beating the $16.05 billion analyst mean. PepisCo also reaffirmed its FY18 outlook expecting adjusted net income of $5.70 per share, also surpassing the $5.65 per share Street view. It also sees revenue rising about 2.3% over FY17 levels when it generated $63.53 billion in annual sales. That translates into about $65 billion, matching the analyst consensus for this year.
+ Alibaba ( BABA ) American depositary receipts nudged higher in early Tuesday trading, rising less than 1%, after the Chinese online retailer agreed to invest in the Smartrac Technology Group, a provider of RFID products and internet of things products, Smartrac said Tuesday morning. Financial terms were not disclosed, although Smartrac said Alibaba president Michael Evans will join its supervisory board.