Consumer Sector Update for 07/28/2020: SHW,MCD,TLRD

Consumer stocks were split between winners and losers on Tuesday, with the SPDR Consumer Staples Select Sector ETF climbing 0.5% this afternoon while the SPDR Consumer Discretionary Select Sector ETF was dropping 0.2%.

In company news, Sherwin-Williams (SHW) was hanging on for a 1.4% gain after the paint seller reported non-GAAP Q2 net income of $7.10 per share on $4.6 billion in net sales, exceeding the Capital IQ consensus expecting $5.70 per share and $4.55 billion, respectively. The company Tuesday also raised its FY20 EPS outlook above consensus.

McDonald's (MCD) slid 2.4% after the fast-food restaurant chain reported non-GAAP Q2 net income of $0.66 per share, compared with $2.05 per share during the same quarter last year and trailing the Capital IQ consensus expecting adjusted earnings of $0.76 per share.

Tailored Brands (TLRD) tumbled over 36% to a record low of $0.38 per share after the men's apparel retailer said it was weighing several potential actions, including filing for bankruptcy protection, because of the COVID-19 pandemic's negative impact on its business and raising doubts about its ability to continue as a going concern.

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

In This Story


Latest Markets Videos


Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More