Consumer Sector Update for 02/16/2021: WBAI, ARD, USFD, XLP, XLY

Consumer stocks were advancing premarket Tuesday. Shares of staples companies in the S&P 500 (XLP) were up 0.14% and consumer discretionary firms (XLY) were recently 0.25% higher. (WBAI) was surging past 70% after saying it agreed to acquire Blockchain Alliance Technologies. The company will issue 44.35 million class A ordinary shares to Blockchain Alliance at the first closing in exchange for the entire outstanding share capital of Blockchain Alliance.

Ardagh Group (ARD) was more than 1% higher even as it reported Q4 adjusted earnings of $0.28 per share, down from $0.39 a year ago. Analysts polled by Capital IQ had called for $0.26.

US Foods Holding (USFD) was declining by more than 3% after it reported Q4 adjusted net earnings of $0.05 per diluted share, down from $0.66 a year earlier. The consensus of analysts polled by Capital IQ was $0.09.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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