Consumer firms were flat to lower premarket Tuesday as the S&P 500 (XLP) ETF was inactive while the consumer discretionary firms (XLY) ETF was recently trading 0.28% lower.
Tailored Brands (TLRD) was declining by more than 23% after saying it is considering taking measures, such as filing for bankruptcy, as the impact of the COVID-19 pandemic on its business has raised doubts about its ability to continue as a going concern.
New Oriental Education & Technology Group (EDU) was over 4% lower after reporting net income of $0.30 per adjusted share in Q4 versus earnings of $0.60 a share in the year-earlier quarter. The consensus estimate of analysts polled by Capital IQ was for $0.35 per adjusted share.
McDonald's (MCD) was down more than 1% as it posted Q2 non-GAAP earnings of $0.66 per diluted share, down from $2.05 a year earlier. That was lower than the $0.76 average estimate of analysts polled by Capital IQ. There were also media reports Tuesday that the company may close some stores inside Walmarts.
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