Consumer Sector Update for 08/04/2020: NKLA, H, LEA, XLP, XLY

Consumer stocks were retreating premarket Tuesday as shares of staples companies in the S&P 500 (XLP) were 0.14% lower, while consumer discretionary firms (XLY) were down 0.18% in recent trading.

Nikola (NKLA) was advancing by more than 5% after its executive chairman Trevor Milton tweeted that the company would have $940 million by end-August.

Hyatt Hotels (H) was 0.6% lower after it reported Q2 adjusted net loss of $1.80 per diluted share versus earnings of $0.76 per share a year earlier. The average analyst estimate compiled by Capital IQ was for a loss of $1.41 per share.

Lear (LEA) was unchanged after it booked Q2 adjusted loss of $4.14 per share compared with a net profit of $3.78 per share in the prior year period. The average Street estimate from analysts polled by Capital IQ was $4.54 loss per share.

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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