Consumer Sector Update for 07/16/2020: HTHT, BABA, DPZ, XLP, XLY

Consumer stocks were mixed pre-bell Thursday as shares of staples companies in the S&P 500 (XLP) were flat while consumer discretionary firms (XLY) were 0.7% lower in recent trading.

Huazhu Group (HTHT) was over 4% lower after the Chinese hotel management company said it expects Q2 net revenue to decline 32% to 34% from last year.

Alibaba's (BABA) UCWeb subsidiary is cutting jobs in India after the web browser and over 50 other Chinese apps were banned in the country, Reuters reported, citing a letter sent to employees. Alibaba was declining by more than 2% in recent trading.

Domino's Pizza (DPZ) was slightly lower even after it reported fiscal Q2 net income of $2.99 per share, up from $2.19 per share in the prior-year period and ahead of the consensus estimate of $2.25 per share from Capital IQ.

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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